Dr. Fabian Kasi: An architect of strategic transformation at Centenary Bank

Centenary Bank’s remarkable financial performance in 2024 stands as a testament to the visionary leadership of its Managing Director, Dr. Fabian Kasi. Under his stewardship, the bank has not only achieved record-breaking profits but has also solidified its role as a catalyst for socio-economic transformation in Uganda.

2024 Financial Milestones: A Testament to Strategic Vision

In 2024, Centenary Bank reported a net profit of UGX 342.3 billion, marking a 15.2% increase from the previous year. This growth was driven by a 13% expansion in the loan book, reaching UGX 3.72 trillion, and a 12.3% rise in total assets to UGX 7.11 trillion. The bank maintained a healthy Non-Performing Loan (NPL) ratio of 2.6%, reflecting prudent credit risk management.

Operating income grew by 8.5%, fueled by a 10.9% increase in interest income from loans and advances. Investments in marketable securities also saw an 18.2% uptick, contributing to the bank’s robust financial standing.

Dr. Fabian Kasi: The Architect of Transformation

Since assuming leadership in 2010, Dr. Fabian Kasi has transformed Centenary Bank from a modest local institution into Uganda’s second-largest bank. His emphasis on financial inclusion, particularly for rural communities, has been central to this transformation. Under his guidance, the bank’s customer base has expanded significantly, with over 3 million clients served through a network of 81 branches and more than 7,400 agents nationwide.

Dr. Kasi’s commitment to values-based banking is evident in the bank’s initiatives that prioritize social impact alongside profitability. His leadership style, characterized by humility and relatability, has fostered a corporate culture that resonates with both employees and customers.

Driving Financial Inclusion and Community Development

Centenary Bank’s mission to serve underserved populations has led to significant investments in microfinance, SME lending, and agricultural financing. In 2024, the agricultural loan portfolio grew by 18.4%, benefiting over 50,000 smallholder farmers. The microfinance loan book increased by 24.8%, reflecting the bank’s dedication to empowering micro-entrepreneurs.

Beyond financial services, the bank allocates 2% of its annual profits to Corporate Social Investment (CSI) initiatives. These funds support health programs, including cancer prevention and the annual Cancer Run, as well as education and environmental projects.

Embracing Digital Transformation

Recognizing the importance of technology in modern banking, Centenary Bank has invested significantly in digital infrastructure. A notable partnership with Oracle, valued at $14 million, aims to enhance the bank’s digital capabilities, improve customer experience, and ensure technological sustainability.

These digital advancements are designed to extend banking services to remote areas, aligning with the bank’s goal of increasing financial accessibility across Uganda.

Recognition and Awards

Centenary Bank’s achievements have garnered both national and international recognition. In 2024, the bank was honored as Uganda’s Best Bank at the Global Finance World’s Best Banks Awards.  Additionally, it was named the Most Admired Financial Services Brand in Uganda, reflecting its strong brand presence and commitment to societal impact.

A Legacy of Impact

Dr. Fabian Kasi’s leadership has not only propelled Centenary Bank to financial success but has also embedded a culture of social responsibility and community engagement. His approach exemplifies how banking can serve as a force for good, transforming lives and fostering sustainable development.

As Centenary Bank continues its journey, it stands as a model for how financial institutions can balance profitability with purpose, driven by visionary leadership and a steadfast commitment to the communities they serve.