Overview:
UDB was awarded for its progressive development banking, socially and economically supportive lending, and commitment to green and sustainability strategies. The bank has demonstrated leadership in every category required of a development bank, making significant contributions to uplifting the lives of Ugandans while weathering extreme external shocks.
Uganda Development Bank (UDB) has been named the Regional Bank of the Year for East Africa at the 18th edition of the African Banker Awards. The prestigious award recognizes UDB’s outstanding contributions to the growth and development of Africa’s banking sector.
The African Banker Awards, held annually, celebrate the achievements of individuals and institutions that have made significant contributions to the continent’s banking industry. This year’s ceremony saw Development Finance Institutions (DFIs) emerge as the stars of the show, underscoring their vital role in the African financial ecosystem.
UDB was awarded for its progressive development banking, socially and economically supportive lending, and commitment to green and sustainability strategies. The bank has demonstrated leadership in every category required of a development bank, making significant contributions to uplifting the lives of Ugandans while weathering extreme external shocks.
“We are honored to receive this coveted award, particularly considering the high-caliber recipients who have received it in the past,” said Patricia Ojangole, Managing Director of UDB. “Being named Regional Bank of the Year for East Africa is a testament to our hard work, dedication, and resolve to accelerate financial inclusion and facilitate Uganda’s socio-economic transformation.”
In addition to the Regional Bank of the Year award, UDB also received a Silver Award (A+ rating) from the Association of African Development Finance Institutions (AADFI) for its operational efficiency, governance systems, development impact, and overall institutional sustainability.
The AADFI Peer Review is a rigorous evaluation process that assesses the performance of African DFIs against the Performance Standards for Green and Inclusive Recovery-oriented Services (PSGRS). UDB was assessed on key areas such as governance, risk management, financial management, and impact assessment, among others.
UDB’s commitment to excellence and sustainable socio-economic development in Uganda has earned it a reputation as a leading development finance institution on the continent. The bank’s holistic sustainability approach has seen it undergo a comprehensive review of its operations to ensure alignment with global best practices.
The awards ceremony, held in Nairobi, Kenya, brought together industry leaders, policymakers, and stakeholders from across Africa to celebrate the continent’s banking sector achievements.