Centenary Bank Uganda
A Ugandan commercial bank focused on inclusive finance, rural development, agriculture, and small-business banking.
Last updated August 25, 2026
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Overview
Centenary Bank, formally Centenary Rural Development Bank Limited, is a commercial bank headquartered in Kampala and licensed by the Bank of Uganda. It is one of Uganda’s most prominent locally rooted financial institutions and has built its identity around extending formal financial services to households, farmers, small traders, processors, manufacturers, and other customers who have historically been underserved by conventional banking. Although it operates across the wider commercial-banking market, its business model retains a strong development-finance and microfinance orientation. The institution began in 1983 as the Centenary Rural Development Trust, a credit trust established by Simeon Lutaakome, Hugh Francis Pulle, Paul Kateregga, Vincent Kirabo kya Maria, Emmanuel Mpande, and John Ogutu. The trust started offering financial services to the public in 1985. In 1993, it received a commercial-banking licence from the Bank of Uganda and became Centenary Rural Development Bank. This transition provided the foundation for the bank’s later expansion from a rural-development initiative into a full-service banking network. Centenary’s core market has included rural farmers, agricultural processors, small businesses, importers, exporters, and individuals with limited access to conventional credit. Its lending activities have therefore covered agriculture, trade, production, and other income-generating activity alongside standard deposit, payment, and transaction services. The bank’s development orientation has also led it to work with external institutions, including a 2011 programme with the World Bank Group aimed at supporting lending to Uganda’s agricultural sector. The bank has progressively invested in technology and alternative delivery channels. In 2017 it introduced a new core-banking platform developed by Intrasoft International and entered a Mastercard partnership intended to expand mobile-banking capabilities. It later connected its customers to international remittance transfers through WorldRemit. In 2020, Centenary introduced instant paperless accounts, targeting people who were outside or only lightly served by the formal banking system. It also expanded premium-card services through the Cente Platinum Mastercard, introduced in 2021. Centenary Bank operates within the Centenary Group, which also includes Centenary Technology Services, responsible for group information and communications technology functions, and the Centenary Foundation, which supports social programmes. The group expanded beyond Uganda when Centenary Rural Development Bank acquired MyBucks Bank Malawi in 2023; the Malawian operation subsequently became Centenary Bank Malawi and included a minority shareholding by the Roman Catholic Archdiocese of Lilongwe. In Uganda, the bank’s headquarters are located at Mapeera House on Kampala Road in Kampala. Its branch and automated-teller network has covered Uganda’s central, western, northern, and eastern regions. The institution has been described as the largest majority-indigenous Ugandan commercial bank, reflecting its domestic ownership base and local-market orientation. Reported assets reached approximately UGX 4.8 trillion at the end of 2021 and approximately UGX 7.11 trillion at the end of 2024, according to the cited reference material. Centenary’s present positioning combines mass-market banking, agricultural and small-enterprise finance, digital access, payments, and regional group expansion.
History
Centenary Bank traces its origins to the Centenary Rural Development Trust, established in Uganda in 1983 by Simeon Lutaakome, Hugh Francis Pulle, Paul Kateregga, Vincent Kirabo kya Maria, Emmanuel Mpande, and John Ogutu. The organisation was created as a credit trust with a rural-development purpose rather than as a conventional commercial bank. It began providing financial services to the public in 1985, creating an institutional base for serving customers who had limited access to formal finance. In 1993, the institution received a commercial-banking licence from the Bank of Uganda and became Centenary Rural Development Bank. The change in status enabled it to broaden its services while retaining a strong emphasis on rural communities, agricultural activity, microfinance, and small businesses. Its lending focus developed around farmers, processors of agricultural products, small traders, small manufacturers, importers, and exporters. This combination of commercial banking and development-oriented lending became a defining feature of the brand. The bank expanded its physical presence across Uganda and established its headquarters at Mapeera House on Kampala Road in Kampala. By the late 2010s, its network included branches and automated teller machines serving the central, western, northern, and eastern regions. It was described as Uganda’s largest majority-indigenous commercial bank, distinguishing it from institutions primarily identified with foreign ownership or international banking groups. Centenary also developed partnerships to strengthen its lending and technology capabilities. In 2011, it worked with the World Bank Group on a programme supporting agricultural lending. In 2017, it moved to a new core-banking platform supplied by Intrasoft International and partnered with Mastercard on mobile-banking solutions. During the same year, a WorldRemit arrangement enabled customers to receive transfers through the remittance provider. These initiatives reflected a shift toward more integrated digital and payment services while preserving the bank’s inclusion-oriented customer base. In May 2009, John Giles left the managing-director position after three years in the role. Fabian Kasi is identified in the supplied reference material as the current managing director. The bank subsequently continued to develop products for both mass-market and premium customers. In May 2020 it launched instant paperless accounts, designed to reduce barriers to account opening for unbanked Ugandans. In December 2021 it introduced the Cente Platinum Mastercard, a debit product aimed at premium customers. Centenary Bank became part of the wider Centenary Group, whose activities include banking, technology services, and social programmes. Centenary Technology Services, also known as Cente-Tech, supports information and communications technology functions, while the Centenary Foundation is responsible for social initiatives. The group’s regional expansion accelerated in March 2023 when Centenary Rural Development Bank acquired MyBucks Bank Malawi. That business was rebranded Centenary Bank Malawi and operated with Centenary Group as majority owner and the Roman Catholic Archdiocese of Lilongwe as a minority shareholder. The bank’s reported scale increased over time. Reference material gives total assets of approximately UGX 4.8 trillion at the end of 2021 and approximately UGX 7.11 trillion at the end of 2024. Its continued identity is built around Ugandan commercial banking with particular depth in agricultural finance, microfinance, small-enterprise lending, deposits, payments, and digital access.
- 2023
Malawi expansion completed
[1]Centenary Rural Development Bank acquired MyBucks Bank Malawi and established Centenary Bank Malawi.
- 2020
Instant paperless accounts launched
[1]Centenary introduced paperless account opening for previously unbanked customers.
- 2017
Core-banking and mobile-services modernization
[1]The bank adopted a new Intrasoft International core-banking platform and partnered with Mastercard on mobile banking.
- 2011
Agricultural lending programme launched
[1]Centenary began a World Bank Group-linked programme to develop agricultural lending in Uganda.
- 1993
Commercial-banking licence obtained
[1]The Bank of Uganda licensed the institution as a commercial bank.
- 1985
Public financial services began
[1]The Centenary Rural Development Trust began offering financial services to the public.
- 1983
Centenary Rural Development Trust established
[1]The organisation that would become Centenary Bank was founded as a credit trust by six Ugandan and international development figures.
Products and positioning
A locally rooted Ugandan commercial bank combining full-service banking with financial inclusion, rural development, agricultural finance, and support for small businesses and lower-income customers.
Lending
Agricultural and rural-development loans
Loans designed for farmers, agricultural processors, and other rural economic participants. Agricultural finance is central to the bank’s development-oriented identity and has also been supported through external-sector partnerships.
Lending
Microfinance and small-business lending
Credit and related banking services for individuals, small traders, small manufacturers, and other customers with limited means or limited access to conventional commercial finance.
Digital banking · 2020
Instant paperless accounts
A paperless account-opening service introduced in 2020 to lower administrative barriers and broaden access to formal banking among unbanked Ugandans.
Cards and payments · 2021
Cente Platinum Mastercard
A Mastercard debit card introduced for premium customers, extending Centenary’s card portfolio beyond basic transactional services.
Digital and payment services · 2017
Mobile banking and remittance services
Digital banking capabilities developed through the Mastercard partnership and remittance connectivity provided through WorldRemit, supporting remote account access and international transfers.
Brand decisions
2023
Acquire MyBucks Bank MalawiM&ABackground
Centenary Group pursued regional expansion beyond its established Ugandan banking market.
Action taken
Centenary Rural Development Bank acquired MyBucks Bank Malawi and rebranded the operation Centenary Bank Malawi.
Aftermath
The transaction gave the group a banking presence in Malawi, with the Roman Catholic Archdiocese of Lilongwe retaining a minority interest.
2020
Launch instant paperless accountsProduct launchBackground
Many Ugandans remained outside the formal banking system or faced practical barriers to opening accounts.
Action taken
Centenary launched instant paperless accounts aimed at unbanked customers.
Aftermath
The service reinforced the bank’s financial-inclusion positioning.
2017
Modernize core banking and mobile servicesStrategyBackground
The bank sought to strengthen its technology infrastructure and expand digital financial access.
Action taken
Centenary introduced an Intrasoft International core-banking platform and partnered with Mastercard on mobile-banking solutions.
Aftermath
The move formed part of the bank’s broader expansion of digital, card, and payment services.
Recent events
- 2023
Centenary Rural Development Bank acquired MyBucks Bank Malawi[1]
M&A
The Ugandan banking group acquired MyBucks Bank Malawi, which became Centenary Bank Malawi and extended the group’s operations into Malawi.
- 2021
Centenary Bank unveiled the Cente Platinum Mastercard[1]
Product launch
The bank introduced a premium debit card for its higher-value customers.
- 2020
Centenary Bank launched instant paperless accounts[1]
Product launch
The bank introduced paperless account opening intended to make formal banking more accessible to unbanked Ugandans.
- 2017
Centenary Bank deployed a new core-banking platform and expanded Mastercard cooperation[1]
Product launch
Centenary introduced a core-banking platform developed by Intrasoft International and signed a Mastercard partnership focused on mobile-banking solutions.
- 2017
Centenary Bank connected customers to WorldRemit transfers[1]
Other
The bank entered an arrangement with WorldRemit to enable transfers from the international remittance service.
- 2011
Centenary Bank introduced a World Bank-linked agricultural lending programme[1]
Other
The bank launched a programme with the World Bank Group to support lending to Uganda’s agricultural sector.
Sources2 sources
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