Pearl Bank

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Pearl Bank Uganda
Company type Parastatal
Industry Financial services
Founded1926;99 years ago (1926)
Headquarters4 - 6 Nkrumah Road
Kampala, Uganda
Key people
Andrew Otengo Owiny
Chairperson [1]
Julius Kakeeto
Managing Director / Chief Executive Officer [2]
Products Loans, checking, savings, investments
RevenueIncrease2.svgAftertax:UGX:35.4 billion (US$9.71 million) (2024) [3]
Total assets UGX:1.427 trillion (US$391,426,100) (2024) [3]
Number of employees
1,153 (2023) [4]
Website www.pearlbank.co.ug

Pearl Bank Uganda Limited is a commercial bank in Uganda, licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator. The bank was formerly known as PostBank Uganda. [5]

Contents

The institution received her tier-1 banking license in December 2021. [6] [7] Before that, Pearl Bank Uganda was classified as a non-bank credit institution, still under the supervision of the Bank of Uganda. [8]

Overview

As of December 2024, Pearl Bank Uganda had total assets worth UGX:1.427 trillion (US$391,426,100), [3] with shareholders' equity of UGX:165 billion (US$45.3 million). [9] In December 2023, customer deposits totaled UGX:790 billion (approx. US$213.6 million), and its loan book stood at UGX:603 billion (approx. US$163 million). [10]

History

Pearl Bank Uganda has been in existence since 1926. [11] It started out as a department in the Post Office. In February 1998 PostBank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.

Pearl Bank Uganda was incorporated under the Companies Act in February 1998 as a limited liability company. The bank's operations are supervised by the Bank of Uganda under the Financial Institutions Act. Before December 2021, it was classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda (BOU). That month, it received a Tier I banking license from BOU. [8]

In June 2025, the bank officially announced its rebrand to Pearl Bank Uganda Limited, pending final regulatory approval from the Bank of Uganda. In November 2025, Pearl Bank came out officially to the public.

The name “Pearl Bank” is inspired by Uganda’s global identity as the “Pearl of Africa.” It reflects the bank’s deep national roots, modern outlook, and purpose-driven ambition to foster prosperity for all Ugandans.

Ownership

Pearl Bank Uganda is wholly owned by the Government of Uganda. [11]

Branch network

As of February 2021, Pearl Bank Uganda maintained a branch network of 33 fixed branches and 17 mobile banking units, totaling 50 branches. [12]

Fixed branches

  1. Arua Branch - Arua
  2. Bombo Branch - Bombo
  3. Bugolobi Branch - Bugoloobi, Kampala
  4. Bulenga Branch - Bulenga
  5. City Branch - Nkrumah Road, Kampala (Head Office)
  6. Entebbe Branch - Entebbe
  7. Fort Portal Branch - Fort Portal
  8. Gulu Branch - Gulu
  9. Hoima Branch - Hoima
  10. Iganga Branch - Iganga [13]
  11. Jinja Branch - Jinja
  12. Kabale Branch - Kabale
  13. Kakiri Branch - Kakiri
  14. Kampala Road Branch - Kampala Road, Kampala
  15. Kamwenge Branch - Kamwenge [14]
  16. Kanungu Branch - Kanungu [15]
  17. Kasese Branch - Kasese
  18. Kayunga Branch - Kayunga
  19. Kitgum Branch - Kitgum
  20. Lacor Branch - Lacor Hospital, Gulu
  21. Lira Branch - Lira
  22. Masaka Branch - Masaka
  23. Mbale Branch - Mbale
  24. Mbarara Branch - Mbarara
  25. Mubende Branch - Mubende
  26. Mukono Branch - Mukono [1]
  27. Nakasongola Branch - Nakasongola
  28. Ndeeba Branch - Ndeeba, Kampala
  29. Ntungamo Branch - Ntungamo
  30. Soroti Branch - Soroti
  31. Wandegeya Branch - Wandegeya, Kampala
  32. William Street - Kampala. [16]
  33. Anaka Branch - Nwoya

Mobile branches

The mobile branches are located in the following towns and districts: [17]

  1. Budaka - Budaka District
  2. Bududa - Bududa District
  3. Bukedea - Bukedea District
  4. Butaleja - Butaleja District
  5. Fort Portal - Kabarole District
  6. Kamwenge - Kamwenge District
  7. Kapchorwa - Kapchorwa District
  8. Kibaale - Kibaale District
  9. Kyegegwa - Kyegegwa District [18]
  10. Kyenjojo - Kyenjojo District
  11. Manafwa - Manafwa District
  12. Pallisa - Pallisa District
  13. Sironko - Sironko District
  14. Tororo - Tororo District

Governance

The activities of PostBank Uganda are directed by its board of directors. As of February 2021, the chairperson of the board was Andrew Otenga Owiny. [1] The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director. As of November 2019, the managing director and chief executive officer is Julius Kakeeto. [2]

Rebrand

In June 2025, the shareholders of the bank, approved the name change from PostBank Uganda to Pearl Bank Uganda. The rebrand required approval from the Bank of Uganda. [5] [19]

See also

References

  1. 1 2 3 Daily Monitor Reporter (19 February 2021). "PostBank Gets New Board Chair". Daily Monitor . Kampala. Retrieved 19 February 2021.
  2. 1 2 Javia Ssebwami (11 November 2019). "Post Bank Uganda announces new managing director". PML Daily. Kampala. Retrieved 3 April 2020.
  3. 1 2 3 Muhereza Kyamutetera (6 June 2025). "From PostBank to Pearl Bank: Uganda's Boldest Banking Transformation Shines On". CEO Magazine Uganda. Kampala, Uganda. Retrieved 20 November 2025.
  4. ↑ "Postbank Uganda Integrated Report As of 31 December 2023" (PDF). Postbank Uganda. Kampala, Uganda. 31 July 2024. Retrieved 8 August 2024.
  5. 1 2 Martin Luther Oketch (12 June 2025). "PostBank rebrands to Pearl Bank". Daily Monitor . Kampala, Uganda. Retrieved 18 November 2025.
  6. ↑ Amon Katungulu (14 December 2021). "Pearl Bank elevated to tier one commercial bank". Nile Post Uganda. Kampala, Uganda. Retrieved 14 December 2021.
  7. ↑ Godfrey Ivudria (16 December 2021). "Post Bank Becomes A Fully-Fledged Commercial Bank". East African Business Week . Kampala, Uganda. Archived from the original on 16 December 2021. Retrieved 17 December 2021.
  8. 1 2 Dorothy Nakaweesi (15 December 2021). "Post Bank becomes Uganda's 27th commercial bank". Daily Monitor . Kampala, Uganda. Retrieved 16 December 2021.
  9. ↑ Albert Douglas Kikonyogo (6 June 2025). "PostBank reports stellar 2024 performance, plans to rebrand". Techjaja.com. Kampala, Uganda. Retrieved 20 November 2025.
  10. ↑ Muhereza Kyamutetera (11 April 2024). "Increased Lending To SMEs And Agriculture Leads Pearl Bank Assets To Surpass UGX One Trillion". CEO Magazine Uganda. Kampala, Uganda. Retrieved 8 August 2024.
  11. 1 2 "Our History" . Retrieved 29 May 2020.
  12. ↑ "List of Pearl Bank Branches". Pearl Bank Uganda. Archived from the original on 31 December 2013. Retrieved 29 May 2014.
  13. ↑ Kiirya, Donald (21 March 2009). "Central Bank commends PostBank". New Vision. Archived from the original on 31 May 2014. Retrieved 29 May 2014.
  14. ↑ Mafaranga, Hope (25 October 2009). "Uganda: Post Bank Goes to Kamwenge". New Vision via AllAfrica.com . Retrieved 29 May 2014.
  15. ↑ Baraire, Patson (7 November 2010). "Uganda: Kanungu Gets Its Second Commercial Bank". New Vision via AllAfrica.com . Retrieved 29 May 2014.
  16. ↑ Faridah Kulabako (18 February 2011). "Banks Intensify Branch Growth to Raise Customer Base". Daily Monitor . Kampala, Uganda. Retrieved 29 May 2014.
  17. ↑ Senyonyi, Taddewo (6 January 2014). "Banking On Wheels: Banks Innovatively Reaching Out to The Unbanked In Remote Areas". The CEO Magazine (Kampala). Retrieved 5 June 2014.
  18. ↑ Ghosh, Ishita (28 September 2010). "The Ugandan Millionaire". Theworkzine.com. Retrieved 29 May 2014.
  19. ↑ Lydia Labanya (6 June 2025). "Postbank Uganda Rebrands to Peal Bank Uganda". New Vision . Kampala, Uganda. Retrieved 18 November 2025.
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