Business
UDB reports sh63.4b profit, 69,000 jobs
“Government remains committed to supporting Uganda Development Bank. At the same time, we expect the Bank to progressively build a diversified and sustainable funding model that enhances its resilience and reduces dependence on Government capitalisation and external credit lines,” Musasizi said.
Patricia Ojangole (R), the managing director at UDB explains how the bank performed.
By: Ali Twaha, Journalist @New Vision
KAMPALA - Uganda Development Bank (UDB) has reported a sh63.4b profit after tax and the creation of 69,202 jobs as at end of December 2025.
Finance Minister Henry Musasizi, together with State Minister for Privatisation and Investment Amina Mukalazi, commended the UDB board and management, led by Board Chairman Geoffrey Kihuguru, for the strong performance.
The figures were released at its Annual General Meeting held at the Ministry of Finance, Planning and Economic Development on August 13. The government said it expects the bank to build a sustainable funding model as it continues to expand its support to businesses.
“Government remains committed to supporting Uganda Development Bank. At the same time, we expect the Bank to progressively build a diversified and sustainable funding model that enhances its resilience and reduces dependence on Government capitalisation and external credit lines,” Musasizi said.
The bank held sh2.26 trillion in assets and sh1.77 trillion in gross loans. It disbursed sh502.2b to 112,392 borrowers during the year under review, according to officials.
“Government remains committed to supporting Uganda Development Bank. At the same time, we expect the Bank to progressively build a diversified and sustainable funding model that enhances its resilience and reduces dependence on Government capitalisation and external credit lines,” Musasizi said.
The bank held sh2.26 trillion in assets and sh1.77 trillion in gross loans. It disbursed sh502.2b to 112,392 borrowers during the year under review, according to officials.
Musasizi urged UDB to ensure its financing delivers jobs, productive enterprises, increased production and inclusive growth, stressing that performance must be judged by real, measurable and verifiable development outcomes.
Musasizi urged UDB to ensure its financing delivers jobs, productive enterprises, increased production and inclusive growth, stressing that performance must be judged by real, measurable and verifiable development outcomes.
“The jobs that we created are real. We created over 69,000 jobs in 2025. As Uganda’s national Development Finance Institution, we remain committed to supporting investments that create jobs, strengthen enterprises, expand productive capacity and contribute to lasting prosperity,” Patricia Ojangole, managing director at UDB, said.
Total equity grew 24.8% to sh1.89 trillion, while net loans and advances increased to sh1.63 trillion. Nearly two-thirds of the financing went into agriculture, agro-industrialisation and manufacturing.
The bank approved sh518.4b for 120 projects. Ojangole said development finance works best when it opens opportunities that commercial markets alone cannot provide, helping businesses create jobs, raise production and expand exports.
“The jobs that we created are real. We created over 69,000 jobs in 2025. As Uganda’s national Development Finance Institution, we remain committed to supporting investments that create jobs, strengthen enterprises, expand productive capacity and contribute to lasting prosperity,” Patricia Ojangole, managing director at UDB, said.
Total equity grew 24.8% to sh1.89 trillion, while net loans and advances increased to sh1.63 trillion. Nearly two-thirds of the financing went into agriculture, agro-industrialisation and manufacturing.
The bank approved sh518.4b for 120 projects. Ojangole said development finance works best when it opens opportunities that commercial markets alone cannot provide, helping businesses create jobs, raise production and expand exports.