CashNews.co
Q1: As dfcu Bank celebrates its 60th anniversary, how do you reflect on the bank’s journey and its impact on the community?
A: Our evolution from a development finance institution to a leading commercial bank has been guided by a mission to empower Ugandans economically. We have consistently introduced innovative financial products and services that meet the changing needs of our customers, from SMEs to individual entrepreneurs. Our dedication to key economic sectors such as Agriculture, Investment Clubs and SACCOs and women entrepreneurship have created a ripple effect of positive change.
We have recorded several success stories from our clients which highlight the profound impact which dfcu Bank has made in the lives of millions of Ugandans over time.
Q2: What are some of the key achievements dfcu Bank is proud of as it marks this milestone?
A: Reflecting on our journey, we are immensely proud of the pivotal role we have played in fostering economic development across Uganda. Our significant contributions to the SME sector have enabled countless businesses to grow and thrive, creating jobs and driving innovation. Our Women in Business program has made a remarkable impact by empowering thousands of women entrepreneurs with the skills and resources needed to succeed. In Agriculture, our partnership with the Agribusiness Development Centre has been transformative, supporting farmers and agribusiness stakeholders to achieve greater productivity and market access.
Additionally, our trailblazing initiatives, such as introducing asset leasing finance have set new standards in the banking industry, reinforcing our position as a leader in financial innovation.
Q3: As you release the half-year financials, how has dfcu Bank performed, and what are the highlights?
A: We are pleased to report strong performance in our half-year financials, reflecting our strategic focus on customer experience, growth and innovation. Despite the challenging economic environment, dfcu Bank has achieved robust financial results, with significant growth in customer deposits and a reduction in loan defaults. Our asset quality remains strong, and we have continued to increase our operational efficiency.
Q4: What differentiates dfcu Bank as a Ugandan bank compared to other financial institutions operating in the country?
A: dfcu Bank is truly and proudly a Ugandan bank. dfcu was formed as a development finance institution in 1964 through a partnership with the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC).
As a development financial institution, we played a pivotal role in transforming Uganda’s economic landscape through providing the necessary capital for businesses to thrive, for infrastructure to be built, and for innovation to take root. dfcu provided long-term financing solutions in the 60s for businesses and projects that are now ingrained in our country’s rich heritage such as Nytil Textiles, Uganda Breweries, Mweya Safari Lodge and others.
What sets dfcu Bank apart is our unwavering commitment to the Ugandan people and our deep integration into the local economy. Our products, strategies and operations are designed with a deep understanding of Uganda’s unique economic landscape. This local focus means we are not just providing financial services; we are actively contributing to the growth and development of the country.
Our initiatives, such as supporting local SMEs, empowering women entrepreneurs, and financing agribusinesses, demonstrate our dedication to driving economic progress and improving the lives of Ugandans. This local commitment and our true Ugandan roots are what truly make us a Ugandan bank.
Q5: Any final thoughts on dfcu Bank’s legacy and its role in Uganda’s future?
A: dfcu Bank’s legacy is built on a foundation of trust, innovation, and unwavering commitment to Uganda’s development. As we celebrate 60 years, we are proud of the positive impact we have made and are inspired by the stories of those we have supported. Our role in Uganda’s future is to continue being a catalyst for growth, providing financial solutions that empower individuals and businesses, and driving sustainable development. We are grateful for the support of our customers, staff, and stakeholders, and we look forward to the next chapter of our journey with optimism and determination.