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The Uganda Development Bank, Uganda Development Bank Ltd is hosting its 2024 Annual General Meeting under the theme: “Empowering Uganda’s Economy: Creating a Sustainable Future for All.” Stay tuned and follow the conversation via #UDB_AGM2025 for live updates and key highlights.

In 2024, Uganda Development Bank Ltd stood tall on the continental & global stage: 🏆 Regional Bank of the Year - East Africa 🌍 4x Sustainability Leader at Karlsruhe Awards 📈 'AA+ (Uga)' Fitch Rating 🤝 Among top 6 DFIs in Africa with AA AADFI rating #UDB_AGM2025

In 2024, the Uganda Development Bank Ltd recorded a net profit of UGX 57.8 billion, marking a 16% increase from UGX 49.8 billion in 2023. This growth was driven by the continued strategic investments in interest-earning assets and a steadfast focus on cost prudence and efficiency. #UDB_AGM2025

Finally, UDB shone in 2024. Named Regional Bank of the Year - East Africa at African Banker Awards for strong performance & green lending. Also secured AA+ (Uga) Fitch Rating & AA rating from AADFI, solidifying its role as a top African DFI. #UDB_AGM2025

Uganda Development Bank gained continental and global recognition in 2024: — East Africa Regional Bank of the Year — 4x Karlsruhe Sustainability Award winner — Fitch Rating: AA+ (Uga) — AADFI ‘AA’ rating: among Africa’s top 6 DFIs #UDB_AGM2025

In 2024, Uganda Development Bank Ltd supported enterprises created & sustained 55,553 jobs—up 7.2% from 2023. Of these, 59.9% were held by youth & 31.3% by women, reflecting UDB’s inclusive growth mission. #UDB_AGM2025

The Bank stays focused on lean, efficient operations with a stable 31% cost-to-income ratio in 2024. Return on assets rose to 3.26% and return on equity edged up to 3.89%, reflecting steady value creation for shareholders. #UDB_AGM2025

Uganda Development Bank continues to finance Uganda’s growth. In 2024, UGX 389B was disbursed to strategic sectors, boosting inclusive development. The Bank’s total assets rose by 7% to UGX 1.78T as per their 2024 Annual Report #UDB_AGM2025

UDB-supported enterprises created & sustained 55,693 jobs in 2024, up 7.2% from 2023, with 59.9% youth & 31.3% women employed. Economic output rose 3.2% to UGX 6.05T, taxes hit UGX 316B, & forex earnings soared 17% to UGX 1.1Trn #UDB_AGM2025

Tax contributions from Uganda Development Bank Ltd-financed enterprises rose to UGX 316B in 2024, up from UGX 236B in 2023—a clear sign of growing business productivity and economic impact. #UDB_AGM2025

In his remarks: The Minister of Finance, Planning & Economic Development, Hon. Matia Kasaija applauded the bank for its exceptional contribution towards the realization of the Country's National Development Plan and Vision 2024. #UDB_AGM2025

Amidst a more optimistic global and domestic economic environment reflected in Uganda's GDP growth rising to 6.4% from 6.0% the previous year, UDB demonstrated both resilience and responsiveness. #UDB_AGM2025

The industrial sector remained the largest beneficiary of Uganda Development Bank's financing, accounting for 50% of the Bank's total investments. #UDB_AGM2025

The industrial sector led UDB’s investments: 🔹 50% of portfolio 🔹 UGX 822B invested •46.8% in agro-industrialization •50% in manufacturing •3.2% in minerals #UDB_AGM2025