Pride Microfinance has announced its transition to a Tier II credit institution, now operating as Pride Bank Limited.
The transition follows the granting of a Credit Institution License (Class 5) by the Bank of Uganda on November 26, 2024, a significant milestone in the institution’s journey of providing inclusive financial solutions to Ugandans.
“Having achieved Tier 2 banking license, we now stand ready to offer expanded financial solutions, including competitive savings products, enhanced credit faclines, and seamless digital banking” said Mr. Edward Nkangi, Executive Director, Pride Bank Limited.
“We shall continue to push for financial inclusion because this is a very important aspect of who we are as Pride and therefore we intend to reach more customers with banking solutions that positively impact their lives”
As a fully Ugandan institution, Pride Bank is committed to extending inclusive customer centric financial services to Ugandans and empowering communities through convenient banking.
Speaking on Tuesday BoU’s Mackey Owumu who represented the Governor Dr. Michael Atingi-Ego hailed Pride for the transition.
“This development is a very welcome one. Pride will now have many new products to roll out including opening foreign exchange accounts. The transition of gives the benefit of being able to do credit finance. It also gives room for a lot of external funding sources both private and government who will be interested in funding the bank,” Owumu said.
“The bank will now be bigger on loan tickets because of the bigger capital.”
According to officials, with 45 branches and two contact offices nationwide, Pride Bank is committed to extending inclusive customer centric financial services to Ugandans and empowering communities through convenient
“With this transition, Pride Bank will expand its product offerings, including enhanced deposit and loan products, digital banking solutions, and other financial services tailored to meet the evolving needs of its customers.”
