Centenary Bank to Hold 40 Years Countrywide Celebrations

Centenary Bank executives addressing the media ahead of 40 years celebrations

Centenary Group has appreciated its regulator the Bank of  Uganda and stakeholders  for guidance as it declared four months countrywide jubilation to its 40 years of service in Uganda and transforming lives of its clientele. 

The countrywide celebrations were made on Saturday in the presence of the board chairman of Centenary Group, the Chief Executive Officer Centenary Group, the Board Chairman Centenary Bank and the Executive Director Centenary Bank.

Joseph Balikudembe, Executive Director Centenary Bank, said Centenary Bank since inception in 1983 has not only been one of the leading commercial microfinance banks in Uganda but also one of the best in Africa.

Balukudembe said they embarked on a journey to provide financial services to Ugandans especially those that were struggling to access financial services from the banks that at the time. Centenary bank, according to Balukudembe was ranked ninth about 10 years ago but today it is the second position due to growth in loans to their clients and deposits growth.

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Balikudembe was addressing the audience in Kampala at St. Augustine chapel. He explained that Centenary started with a dream that millions of ordinary Ugandans would have access to affordable financial services and also increase financial literacy something they have achieved.

” For those who may not remember, Centenary bank started in 1983 but the idea many know started in 1979 as a credit trust and it’s mandate strengthened in 1993 with the reception of a license to operate as a commercial bank from the regulator bank of Uganda. Therefore, over the years, the story for Centenary Bank has been one of resilience, hard work and sweat from all each and everyone here today,” he noted.

Balikudembe added that Centenary Bank is the largest commercial microfinance bank in the country serving in excess of 2.5 million customers with an asset base of slightly above 5.5 trillion shillings.

At this point in time Centenary has given over 3000 jobs as a group, directly to become one of Uganda’s largest and best employers while indirectly creating more than 6000 jobs through the center agent platform,  positively impacting communities through the corporate social responsibility program with other partners majorly focusing at health, education environment and social mission. 

Gustavio Bwoch, the Board Chairman of Centenary Bank, said they are committed to their shareholders and customers. Bwoch added that they are running the bank in a sustainable way by adopting to environmental, social and governance agenda.

Bwoch, however, applauded the bank customers because the bank exists because of customers. “Without customers, Centenary would be no more. Mapeera house is a signature of Centenary bank and those who started the vision, built it for the future therefore as the bank grows, the customers also grow,” Bwoch said.

By Benjamin Mwibo

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