The bank was founded in 2012 as
NC Bank Uganda and received a commercial banking license from the Bank of Uganda in April 2012. The bank opened for business in May 2012. In September 2019, the two parent companies of NC Bank Uganda and
Commercial Bank of Africa (Uganda), both based in Kenya, received regulatory approval to merge their businesses, thereby merging their subsidiaries in Uganda to form
NCBA Bank Uganda, effective 1 October 2019, subject to the approval of the Bank of Uganda. In June 2020, Bank of Uganda gave consent for the merger of NC Bank Uganda with CBA Uganda. The merger process is expected to be complete by 31 September 2020. The combined bank had total assets of USh548 billion (approx. US$149 million), as of 31 March 2020. ==Management==