The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | PostBank has announced its financial results with a 19% increase in net profit for the year ended December 31st, 2022.
The state-owned bank reported a net profit of UGX. 15.1 billion, a solid year-over-year growth of 19.3% up from the UGX. 12.2 billion net profit posted in 2021.
PostBank’s total assets grew significantly by 21.3% from UGX. 745 billion in 2021 to UGX. 946. 6 billion in 2022, which is almost 1 trillion.
The bank’s total income also increased from UGX. 144.5 billion in 2021 to UGX. 159.2 billion in 2022, which can be attributed to the bank’s digital transformation journey that began in 2020.
Julius Kakeeto, Managing Director, PostBank Uganda, commented on the bank’s financial performance and thanked the shareholder for supporting PostBank. “Our shareholder has resolved to capitalize retained earnings of the UGX. 19Bn as at 31st December 2022.”
