The Development Finance Company of Uganda (DFCU) earlier this week realized there financial year report for 2024-2025 with a profit after tax of UGX72 Billion from UGX 28 billion as of last year showing a 151% increase. The groups’ earnings per share increased from UGX 38.39 in 2023 to of UGX 96.35. This performance is largely driven by our major trading entity, dfcu Bank, and the details of which have been highlighted in the chief executive’s statement.
In the monitor publication earlier this week, DFCU group Board of Directors, led by Jimmy D. Mugerwa as chairman unveiled the 2024financial results highlighting growth and strategic achievements of the institute. The report detailed key financial milestones, including a significant surge in profitability, strengthened market performance and reinforcing position as a leading financial institution in Uganda.
significant rise from UGX 28 billion in 2023.
In a Monitor publication earlier this week, the DFCU Group Board of Directors, led by Chairman Jimmy D. Mugerwa, unveiled the 2024 financial results, highlighting the institution’s impressive growth and strategic achievements. The report detailed key financial milestones, including a significant surge in profitability and strengthened market performance, reinforcing DFCU’s position as a leading financial institution in Uganda.
“The performance mainly attributed to the strategic focus on key drivers of our business, which has led to better efficiencies in delivery of customer service and risk management” he stated.
According to Charles Mudiwa Chief Executive Officer/Managing Director at DFCU this year’s performance was more than just numbers but also reaffirming our commitment to innovation, inclusivity, and impact, while ensuring a stronger financial footing for the future.
“And we aspire to be the top five banks in terms of profitability, I think we indicated that last year, we need a strategy session, that by 2026, we aspire to be the top five in terms of profit in the country. That’s the future that we’re looking at and that’s what we’re planning as DFCU” he added.
Through the “60 acts of kindness” staff-led campaign, UGX 1.5 billion has been invested into communities across Uganda, driving meaningful change by transforming lives, fostering economic growth and improving livelihoods in Uganda
Over UGX 79.2 million has been invested in community development, benefiting more than 10,000 people across the country. Through the GROW funding initiative, over UGX 11.2 billion has been disbursed to support 212 women across 30 districts. This initiative focuses on empowering women by providing financial literacy training and essential supplies to enhance their technical skills and economic opportunities.
In addition, the DFCU Foundation has played a significant role in fostering economic resilience by training 27,000 smallholder farmers and entrepreneurs. A total of 402 enterprises have undergone training, with 54% of them being women-led businesses. This initiative has had a far-reaching impact, directly improving the livelihoods of 40,000 individuals and indirectly benefiting over 100,000 people through increased economic stability, knowledge-sharing, and strengthened business networks.
“So, we continue to make an impact with the communities and to support women we transform lives in business Uganda, that’s what we do and the work of our hands demonstrates what it means for us in terms of making this impact “Charles M. Mudiwa added. Moving forward the group aims at refocusing on strategy development and rebuilding up technology for better results and effective service delivery.
“We need to focus on the key economic sectors in Uganda and we’ve identified these and we’re very clear about how we drive each of the key economic sectors through an ecosystem play that will drive the business going forward into those sectors. So, our focus will be driving the key economic sectors, which we call in sector specialization. The second one is our customers build a strong customer intimacy platform.” Charles added.
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Rebecca Birungi, Acting Chief Finance Officer at DFCU Bank, highlighted the importance of accelerating digital transformation initiatives to drive greater efficiency, customer satisfaction, and revenue growth in the coming year. She emphasized that continued investment in innovative digital solutions will be key to enhancing bank performance and profitability.
“Driven by our continued effort to invest in people in terms of strategic hires, training as well as technology in order to serve our customers better as well as grow both our digital channels, agent network. Some of the platforms that we had in 2024, we had the new ATM platform, we revamped our digital channels, there was also the ATM switch. “she added
Despite the uncertainties of 2024, DFCU showcased resilience, achieving strong financial performance. With a focus on growth, innovation, and digital transformation, the bank remains committed to strengthening its market position and impacting communities.
