Pride
Microfinance (MDI) has announced its official transition to a Tier II credit
institution, now operating as Pride Bank Limited.
The announcement was made at a press
conference held at the Kampala Serena Hotel. The transition follows the
successful granting of a Credit Institution License (Class 5) by the Bank of
Uganda on November 26th, 2024.
Speaking at the press conference, Edward
Nkanji, Executive Director of Pride Bank Limited, said that having achieved the
Tier II banking license, Pride Bank now stands ready to offer an expanded array
of financial solutions to better serve the needs of Ugandans.
Speaking on behalf of the board, Fred
Omach Mandir the chairman of the board expressed gratitude to the central bank
for granting pride a tier II financial institution license.
Representing Bank of Uganda, the Director
Non-bank financial institutions Mackay Aomu said that Pride had met all the
requirements for the elevation to tier II status and implored the team to work
harder and even achieve Tier I status.
Tags
National Economic Empowerment Dialogue tasks the Bank of Uganda to tackle fraud in banks.
Popular and Recent News
Comment