KAMPALA — Pearl Bank has expanded its lending to agriculture, small and medium enterprises and other productive sectors, with its loan book crossing the Shs1 trillion mark as the bank seeks to position itself as a leading indigenous financial institution.
The bank, formerly known as PostBank Uganda, also says it is expanding digital financial services and financial inclusion as part of its strategy to support Uganda’s long-term economic transformation.
Managing Director Julius Kakeeto said the rebrand, which took place a year ago, was intended to strengthen the bank’s national identity and position it to compete more effectively in the financial sector.
Since the rebrand, Kakeeto said the bank has expanded its corporate banking operations, increased lending to agriculture and SMEs, attracted new customers and funding partners and continued expanding Wendi, its digital financial inclusion platform.
The bank’s loan book has grown from about Shs760 billion at the end of 2025 to more than Shs1 trillion.
Kakeeto attributed the growth partly to retained earnings and continued shareholder support, which he said had provided the capital needed to expand lending.
“Capital is like fuel. It keeps you on the road. It has enabled us to keep lending and keep growing our loan book. This year alone, our loan book has grown by more than 30% so far,” Kakeeto said.
Agriculture remains major lending area
Agriculture accounts for about 35% of Pearl Bank’s loan portfolio, with the bank increasingly targeting activities beyond primary production, including agro-processing, value addition and exports.
The bank has also participated in government-backed financing programmes, including the Agriculture Credit Facility and Small Business Recovery Fund, as well as financing for large-scale farmers.
Kakeeto said the bank was increasingly aligning its lending with the Government’s ATMS priorities — agro-industrialisation, tourism development, mineral development, and science, technology and innovation — alongside sectors that support their growth.
The strategy places the bank’s lending within a broader effort to direct financing towards enterprises expected to contribute to production, employment and exports.
Wendi drives financial inclusion
Financial inclusion remains another major area of the bank’s strategy, particularly through Wendi.
Pearl Bank says the platform has facilitated more than Shs3 trillion in Parish Development Model disbursements to more than three million households.
Its agency network has also expanded, with the bank reporting more than 14,000 agents and plans to reach about 20,000.
The bank ultimately wants to establish an agent presence in every parish, according to Kakeeto.
Digital channels are also changing the way customers transact with the bank.
Kakeeto said branches accounted for about 80% of Pearl Bank transactions five years ago, compared with about 8% currently, even as the overall volume of transactions has increased fivefold.
He said the share of branch transactions is expected to decline further as customers increasingly use mobile, agency and other self-service channels.
Bank targets indigenous growth
Kakeeto said the bank’s commercial expansion would remain linked to its stated purpose of fostering prosperity for Ugandans.
“We would like to see an indigenous or homegrown bank with a local identity that is at the forefront of fostering prosperity for Ugandans in real terms with measurable and quantifiable goals that deliver impact to Uganda’s economy,” he said.
Over the next five years, the bank expects digital banking, affordable credit, strategic partnerships and increased financing for productive enterprises to remain central to its growth strategy.
Pearl Bank’s history dates back to 1926, when it operated as a Post Office Savings Department. It later became PostBank Uganda and was incorporated as a limited liability company in 1998.
The bank is wholly owned by the Government of Uganda and operates as a fully-fledged commercial bank.
According to the bank, it currently has 59 branches and more than 8,000 agents, supported by digital platforms including the Pearl Bank App, Pearl Online and smart ATMs.
In 2023, the bank adopted a five-year strategic plan built around its “Grow. Prosper” tagline and a focus on financial inclusion and entrepreneurship.