MD Julius Kakeeto on what drove Pearl Bank loans past Shs1 trillion

Pearl Bank Managing Director Julius Kakeeto has attributed the lender’s Shs1 trillion loan book milestone to stronger capital, shareholder support and increased financing for productive sectors.

The government-owned bank’s loan portfolio has grown from about Shs760 billion at the end of 2025 to more than Shs1 trillion.

Kakeeto said on September 16, 2026 that the bank had expanded its lending by more than 30 per cent this year.

He said retained earnings and continued support from the shareholder had provided the capital needed to finance that growth.

“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 has emerged as a major driver of the loan portfolio, accounting for about 35 per cent of the bank’s lending.

Kakeeto said Pearl Bank now wants to move beyond financing primary agricultural production and put more money into agro-industrialisation, value addition and exports.

The bank also participates in government programmes such as the Agriculture Credit Facility and Small Business Recovery Fund. It also finances large-scale farmers.

Pearl Bank is aligning more of its lending with the government's ATMS priorities of agro-industrialisation, tourism, mineral development, science, technology and innovation.

Kakeeto also linked the bank’s growth to changes introduced since PostBank Uganda rebranded to Pearl Bank a year ago.

He said the new identity was intended to position the lender as a competitive homegrown bank capable of delivering measurable economic impact.

Since then, Pearl Bank has strengthened corporate banking, agriculture and SME financing. It has also attracted new customers and funding partners.

Digital services have become another part of the growth strategy.

Through its Wendi platform, the bank says it has facilitated more than Shs3 trillion in Parish Development Model disbursements to over three million households.

Its agency network has also expanded to more than 14,000 agents. The bank is targeting about 20,000 agents before working towards a presence in every parish.

Kakeeto said changing customer behaviour has reduced dependence on physical branches.

Five years ago, branches handled about 80 per cent of the bank’s transactions. That share has fallen to about eight per cent despite overall transaction volumes increasing fivefold.

Pearl Bank expects branch transactions to decline further as more customers turn to mobile, agency and self-service channels.

Kakeeto said the long-term ambition is to build an indigenous bank that combines commercial growth with a wider contribution to Uganda's economy.

“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.

The bank plans to keep digital banking, affordable credit, partnerships and financing for productive businesses at the centre of its strategy over the next five years.

Pearl Bank, formerly PostBank Uganda, is wholly owned by the government.