Pride Bank has unveiled five new financial products aimed at meeting the evolving needs of individuals, entrepreneurs and businesses across the country.
Speaking at the launch of the products at the bank’s head offices in Bukoto Kampala, Veronicah Namagembe the bank’s managing director, noted that the new products align with the bank’s resolve to deliver relevant and impactful financial solutions.
“As a Tier two banking institution, Pride Bank has the mandate and capacity to go further in serving and impacting Ugandans. The new products are timely, targeted and speak directly to the everyday realities of our customers from business growth, to home ownership and to wealth preservation,” she said.
The products include the SME Corporate Loan, home improvement loan, Mortgage loan, trade finance and a forex savings account.
Namagembe noted that these products are part of the bank’s broader strategy to expand financial inclusion and provide Ugandans with banking solutions that address their real life needs and aspirations.
The launch of the products comes at a time when Uganda’s economy is gaining momentum and there is increasing demand for accessible credit and diversified saving options.
Namagembe revealed that despite having transformed into a commercial bank, they remain committed to their purpose of existence for the past thirty years which is transforming lives responsibly.
“With that purpose we have three high impact goals with in which we operate and they are aligned to the seventeen sustainable development goals. These are boosting sustainable agriculture value chain, growing sustainable SMEs to drive economic transformation and fostering economic resilience through financial inclusion,” she further said.
Joseph Fetaa the bank’s head of business remarked that the new products were born out of extensive research and client engagement.
“Whether it’s a small business looking for trade support or a young couple saving for a home, Pride Bank has a solution tailored for their journey. At this critical stage of Uganda’s economic recovery, our responsibility as a bank is to empower people to make confident financial choices,” he noted.
Fetaa revealed that the SME Corporate loan was developed to support small and medium sized enterprises with the capital they need to grow and thrive.
“Recognizing that SMEs are the engine of Uganda’s economy, this product provides accessible financing that allows businesses to scale operations, manage cash flow or invest in new opportunities,” he noted.
He added that the home improvement loan is designed to help individuals upgrade or renovate their homes thereby enhancing the quality of life for families and communities while the mortgage loan provides a path way for aspiring home owners to access long term financing for property acquisition which is a key need for middle income earners and professionals.
On the other hand, the forex savings account is a strategic addition enabling customers to save in major international currencies a timely offering for exporters, diaspora families and those seeking to preserve the value of their income in a fluctuating currency environment,” Fetaa added.
Pride Bank is a licensed financial institution regulated and supervised by the Bank of Uganda. Since its establishment, Pride Bank has grown to become a leading provider of inclusive financial solutions in Uganda, focusing on empowering economically vulnerable communities. The bank delivers its services through a network of 47 fully connected branches across the country and has already disbursed sh3trn in loans to Ugandans.