Pearl Bank Tops URA Rankings on Revenue Growth, Collection Efficiency and Digital Financial Services

By Okidi Patrick

Pearl Bank Uganda Limited has been crowned winner in the best in revenue growth and expansion category at the annual bankers’ conference organized by the Uganda Revenue Authority (URA), a recognition that highlights the bank’s expanding role in Uganda’s digital financial inclusion and its contribution to domestic revenue growth and mobilization.

According to the Uganda Revenue Authority, the bank was recognized for it’s strong performance in revenue collection and digital financial services, demonstrating notable growth in both transaction volumes and value while supporting the government’s tax administration framework.

The conference, held under the theme “Financial Institutions as a Catalyst to Scaling Enterprise Productivity and Tax Base Expansion: A Pathway to 10-Fold Economic Growth,” underscored the increasingly important role of banks in supporting Uganda’s economic transformation agenda.

According to the bank’s Chief Corporate and Institutional Banking Officer, Mr. Abaasi Mawanda, the recognition affirms the institution’s commitment to stimulating entrepreneurship and services, sustainable financial inclusion thus enabling prosperity within the country.

He noted that the bank’s strategy is closely aligned with government priorities aimed at accelerating economic growth and broadening the country’s revenue base.

The Bank’s focus is on simplifying banking, expanding access to digital financial services, and bringing more enterprises into the formal financial system. This is critical not only for improving productivity but also for expanding the tax base and supporting the government’s ambition of achieving the ten-fold economic growth,” Mawanda said.

He added that the evolving role of banks is increasingly extending beyond traditional financial intermediation to becoming strategic enablers of economic development through innovation and enterprise support.

As Uganda intensifies efforts to grow domestic revenues without increasing the tax burden on citizens, partnerships between financial institutions and government agencies such as the Uganda Revenue Authority are becoming increasingly important in linking enterprise growth, digital payments, and tax compliance.

For Pearl Bank, the recognition marks a significant milestone and reinforces the institution’s commitment to supporting Uganda’s tenfold growth strategy.