Kampala, Uganda — July 2025 — dfcu Bank has announced a significant leap in its financial performance for the year ending 2024, posting a net profit of Shs72.1 billion—more than double the Shs30.6 billion it recorded in 2023. This remarkable growth has enabled the bank to double its dividend payout to shareholders, reflecting renewed investor confidence and robust operational results.
Strong Financial Growth Amid Economic Challenges
The surge in profit was driven primarily by a 25% increase in net interest income, underpinned by expanded lending activities and improved interest margins. Additionally, the bank recorded enhanced efficiency in its operations and a notable decline in non-performing loans (NPLs), which fell to industry-leading levels.
dfcu Bank’s total assets grew by 10% in 2024, highlighting an expanding customer base and growing market share in Uganda’s competitive banking sector. The bank’s CEO, [Name], attributed the strong results to strategic investments in digital banking platforms and a focus on customer-centric services.
“Our performance this year demonstrates dfcu’s resilience and commitment to delivering value to our customers and shareholders despite the challenging economic environment,” said Charles M.Mudiwa.
Dividend Boost Rewards Shareholders
In light of the strong financial results, dfcu’s board has recommended a dividend payout of Shs37.5 billion, doubling the Shs18.5 billion distributed in the previous year. This move is expected to bolster investor confidence and enhance shareholder value.
The increased dividend payout signals a positive outlook for dfcu Bank’s future, reflecting confidence in its sustained profitability and growth trajectory.
Looking Ahead: Digital Innovation and Expansion
As part of its growth strategy, dfcu Bank continues to invest heavily in digital technologies aimed at enhancing customer experience and operational efficiency. The bank is also exploring opportunities to expand its product offerings to both retail and corporate clients.
Industry analysts view dfcu’s 2024 results as a strong indicator of recovery and growth in Uganda’s banking sector, which has been navigating post-pandemic challenges and regional economic uncertainties.