This study examined the relationship between financial risk management and the financial performance of commercial banks in Uganda, with a specific focus on Centenary Bank Mukono Branch. The study was guided by three specific objectives: to assess the credit risk management practices at Centenary Bank Mukono Branch, to evaluate the liquidity risk management strategies employed by the bank, and to determine the effect of operational risk management on the financial performance of the bank. The study employed a cross-sectional research design and used both quantitative and qualitative approaches. A sample of 60 respondents was drawn from the bank's staff and customers using purposive and simple random sampling techniques. Data were collected using structured questionnaires and interview guides. Descriptive statistics, correlation analysis, and regression analysis were used to analyze the data. The findings revealed that credit risk management had a significant positive effect on financial performance (r = 0.712, p < 0.05). Liquidity risk management was also found to significantly influence financial performance (r = 0.681, p < 0.05). Operational risk management showed a moderate but significant relationship with financial performance (r = 0.598, p < 0.05). The study concluded that sound financial risk management practices were critical determinants of the financial performance of Centenary Bank Mukono Branch. The study recommended that the bank should strengthen its credit appraisal systems, maintain adequate liquidity buffers, and invest in robust internal control mechanisms to mitigate operational risks and enhance overall financial performance.