Fred Jachan Omach (L), Pride’s Board Chairwith other bank officials during the unveiling at Kampala Serena Hotel
HABARI DAILY I Kampala, Uganda I It’s now known as Pride Bank, fully owned by Government and fully Ugandan.
The banking institution transitioned to a Tier II credit institution, after 30 years of service to Ugandans.
Speaking during the unveiling of their new status, Edward Nkangi, the Pride Bank Limited Executive Director said that the new position gives them leeway to offer a range of financial services.
These, he said, include competitive savings products, enhanced credit facilities, and expanded digital banking services.
“This amplifies our commitment to financial inclusion. Our aim now is to reach more customers with impactful banking solutions,” said Nkangi, during the unveiling which was held at Kampala Serena Hotel Tuesday.
Fred Jachan Omach, Pride’s Board Chair credited Government for the economic stability and conducive environment for their unprecedented growth.
“Our advent from the leading microfinance institution to a Tier Two credit institution to a banking institution is due to Bank of Uganda’s (BoU’s) unwavering dedication to financial stability in the country,” he said.
Mackey Owumu, who represented the BoU Bank Governor Dr. Michael Atingi-Ego, refered to Pride’s transition as the third significant progression of its kind, following Equity Bank and Finance Trust Bank.
Wilbrod Owor, Executive Director of the Uganda Bankers Association, encouraged the Pride Bank managers to appreciate the institution’s security and stability as they embark on the new journey.
“Make sure you safeguarding public savings and provide business growth capital to your clients. This will be a fruit of stability and growth in your financial assets,” he said.
Pride Bank Limited now offers expanded financial products and services, including enhanced deposit and loan options, alongside its digital banking offerings.
Its transition follows the Bank of Uganda’s granting of a Credit Institution License (Class 5) on Nov. 26, 2024.
This institution was previously operating as Pride Microfinance (MDI) with 45 branches and two contact offices nationwide.
The rebranded Pride Bank Limited is wholly owned by the Ugandan government, and offers customer-centric financial services countrywide.
