{"id":14606,"date":"2025-06-11T17:01:53","date_gmt":"2025-06-11T17:01:53","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=14606"},"modified":"2025-06-11T17:02:02","modified_gmt":"2025-06-11T17:02:02","slug":"postbank-to-change-name-to-pearl-bank","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/postbank-to-change-name-to-pearl-bank\/","title":{"rendered":"PostBank to change name to Pearl Bank"},"content":{"rendered":"\n

The shareholders of PostBank Uganda have approved a resolution to change the company’s to Pearl Bank Uganda Limited, in a move aimed at aligning with the bank\u2019s strategic growth agenda and national pride.<\/p>\n\n\n\n

The rebrand is now subject to regulatory approval by the Bank of Uganda.<\/p>\n\n\n\n

This development was announced during the bank\u2019s 2024 Annual General Meeting (AGM) held at the Ministry of Finance (MoFPED) offices in Kampala on where shareholders lauded the bank\u2019s strong financial performance, having posted a Profit After Tax (PAT) of UGX 35.4 billion in 2024 to emerge as one of Uganda\u2019s most profitable government entities.<\/p>\n\n\n\n

Finance Minister Matia Kasaija, while speaking at the AGM, confirmed the shareholder resolution and underscored the symbolic value of the new name.<\/p>\n\n\n\n

\u201cI stand here to announce that we shareholders of PostBank have approved the rebrand of the bank to a name that evokes a sense of pride in all of us, in being Ugandan,\u201d Kasaija said. \u201cPostBank will rebrand to become Pearl Bank Uganda Limited, which is subject to Bank of Uganda approvals.\u201d<\/p>\n\n\n\n

Kasaija explained that the name was inspired by Sir Winston Churchill\u2019s description of Uganda as\u00a0\u201cThe Pearl of Africa\u201d, to reflect the country\u2019s beauty, diversity, and richness in natural and human resources.<\/p>\n\n\n\n

<\/p>\n\n\n\n

The company’s total income rose by 20% from UGX 206 billion to UGX 248 billion, while customer deposits surged by 25% from UGX 790 billion to UGX 990 billion. The bank\u2019s loan book also expanded by 19%, from UGX 603 billion to UGX 719 billion.<\/h3>\n\n\n\n

PostBank\u2019s net profit of UGX 35.4 billion reflects a 28% growth from the previous financial year, affirming its transformation trajectory since becoming a fully licensed Tier I commercial bank in December 2021.<\/p>\n\n\n\n

Board Chairman, Andrew Otengo Owiny ,said the bank has become a \u201ctransformative force\u201d in Uganda\u2019s financial landscape, continuing to support key government initiatives such as digitizing Parish Development Model (PDM) payments via the Wendi platform, which ensures direct and transparent disbursements to beneficiaries.<\/p>\n\n\n\n

PostBank Managing Director, Julius Kakeeto said the rebrand is part of a broader strategy to position the company as a dominant indigenous bank.<\/p>\n\n\n\n

\u201cRebranding enables the bank to attract strategic partners and high-value deposit customers,\u201d Kakeeto noted. \u201cThis will allow the bank to scale support to MSMEs and the agricultural value chain, helping improve productivity and incomes of Ugandans.\u201d<\/p>\n\n\n\n

PostBank\u2019s name change comes after five years of solid transformation and growth, during which the Bank has expanded access to financial services, increased support to MSMEs and agriculture, and demonstrated strong performance in driving inclusive banking.<\/p>\n\n\n\n

The development also comes just weeks after Pride Microfinance changed its name to Pride Bank<\/a>, following an upgrade from Tier III to Tier II status by the central bank.<\/p>\n\n\n\n

Editor:mmserwanga@gmail.com<\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The shareholders of PostBank Uganda have approved a resolution to change the company’s to Pearl Bank Uganda Limited, in a<\/p>\n","protected":false},"author":1,"featured_media":14607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[65],"tags":[],"class_list":["post-14606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/06\/PostBank-AGM-2025.webp","jetpack-related-posts":[{"id":6872,"url":"https:\/\/prowebinhost.com\/anzu\/the-high-court-of-london-exonerates-dfcu-of-connivance-with-bou-over-crane-bank-sale%ef%bf%bc\/","url_meta":{"origin":14606,"position":0},"title":"THE HIGH COURT OF LONDON EXONERATES DFCU OF CONNIVANCE WITH BoU OVER CRANE BANK SALE\ufffc","author":"UgandaUpdate","date":"October 9, 2022","format":false,"excerpt":"By Jackson Oboth The High Court of London presided over by Judge Pelling QC has exonerated DFCU bank and it's\u00a0 Directors of underhand involvement in the purchase of Crane Bank assets. 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