The study focused on risk exposure and financial performance on the banking industry in Uganda a case of centenary bank in Rubirizi district. The study was guided by the following objectives; to examine the effect of credit risk management and the financial performance in centenary bank Rubirizi district, to investigate the effect of market risk management and financial performance in centenary bank Rubirizi district, and to establish the contribution of liquidity risk management and financial performance in centenary bank Rubirizi district. A case study was carried out that adopted both qualitative and quantitative approaches. Through the census sampling technique, Primary data was collected from 40 respondents. These included; the branch manager, team leaders, relationship managers, loan officers, teller staff and customers using selfadministered questionnaires and interview guides, while secondary data was obtained with the guidance of a documentary review checklist from books kept by bank management, Bank of Uganda journals and Bank of Uganda annual reports. A statistical package SPSS was used to analyse the quantitative data collected through the questionnaires and content analysis was used to analyse qualitative data collected. The findings of the study revealed that credit risk exposure was essential for bank performance. The findings on the relationship between market risk and financial performance revealed that the bank had in place internal controls to mitigate market risk exposure much as the internal controls were not as effective as possible to mitigate the risks arising out of the market. From the findings it was also established that liquidity risk exposure determined the performance of the bank which was justification that a reduction in liquidity risk would help the bank to be able to meet its day-to-day financial obligations as they fall due, be more accountable to the different stakeholders and ensure efficiency in its operations. The study therefore recommends, that since the model could not determine the variance of financial performance at centenary bank, the management of the bank should draw a lot of emphasis on the identification, measurement and control of credit risk, market risk and liquidity risk through designing of appropriate strategies to reduce financial risks and in turn enhance the bank’s financial performance.