BoU Applauds NCBA’s Expansion Strategy with New Branch Launch in Namanve”

NCBA Bank Uganda has opened a new branch in the bustling Namanve Industrial Business Park, marking a significant step in expanding its presence in Uganda.According to the bank, the new branch is strategically located in an area with a growing community of manufacturers and businesses, providing much-needed access to financial services.

During the branch opening on Friday, Mark Muyobo, the managing director of NCBA Uganda, expressed his enthusiasm for the new branch and its potential to contribute to the economic development of the industrial park.“I am grateful to our dedicated team and loyal customers for their support. Together, we have seen impressive growth in our profitability, and we are excited to continue on this path of success,” Muyobo said.

Hanington Wasswa, director Commercial Banking at Bank of Uganda, commended NCBA for their expansion efforts, emphasizing the importance of broadening access to banking services for all members of the community.“While NCBA Uganda is largely a corporate bank, the opening of a new branch here, will enhance access to banking services and entrench the relationship with manufacturers in the industrial park and factory workers, at Namanve Business Park as well as residents and businesses within the vicinity,” Wasswa said.

He expressed optimism that the latest branch opening, will strategically position the bank to better provide banking services conveniently, especially to existing and prospective customers within Namanve and neighboring areas.In his remarks, John Gachora, the Group Managing Director of NCBA Bank, highlighted the bank’s commitment to investing in Uganda and supporting local businesses.

“For that, should show that we will continue to invest in this country, we will continue to support your businesses. Please talk to us. That’s what we’re here for… We are very committed to supporting Uganda, as well as the customers.”The new branch is designed to serve a wide range of customers, from traditional to tech-savvy individuals.

NCBA Bank’s range of products and services, including Asset Financing and Mortgage Financing, are poised to further support the growth of businesses within the industrial park.The branch opening in Namanve signifies NCBA’s dedication to providing innovative banking solutions tailored to meet the unique needs of the local community.