dfcu bank has overcome the challenging economic environment to post an impressive Shs114bn net profit in half year results for 2017, up from Shs23.3bn in June 2016. This impressive performance follows dfcu’s acquisition of Crane Bank early this year-at an undisclosed fee. According to dfcu, certain assets and liabilities acquired from Crane
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Stanbic Bank Uganda Ltd (SBU) has recorded Shs95.4bn net profit in its half year results for 2017, down from Shs107.2bn recorded in the year ended June 2016. This represents a decline of 11%. Releasing the results on Tuesday morning at Serena Hotel, Kampala, Patrick Mweheire , the Stanbic Bank Uganda Chief
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The Bank of Uganda (BoU) Governor Prof. Emmanuel Tumusiime-Mutebile has revealed fresh details on the collapse of Crane Bank, the then 4th largest bank by assets in Uganda. Addressing bankers at an informal dinner held at Serena Hotel, Kampala on August10, 2017, Mutebile began by saying that much of the commentary
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The banking sector and the legal fraternity in Uganda are mourning the untimely death of Ecobank Uganda Ltd long serving Head Legal & Company Secretary. Annette Mwiriza Mukunda, wife to Julius Mukunda breathed her last on Thursday in India. She was battling Cervical Cancer. “Death has robbed us of our Company Secretary-
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Justine Bagyenda, the Executive Director Supervision-Commercial Banking at Bank of Uganda (BoU) has spoken out on the state of Uganda’s banking sector following the collapse of Crane Bank that has been in the news since late last year. “The banking sector is strong and resilient,” Bagyenda said. She made the remarks on
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The Bank of Uganda (BoU) has maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 10% on account of low inflation levels and a boost in economic activity. Annual headline inflation declined to 5.7% in July 2017, down from 6.4% in June 2017 due to a
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The Bank of Uganda (BoU) is expected to reduce its Central Bank Rate (CBR), a benchmark lending rate for commercial banks tomorrow August11, 2017. In June, BoU eased the monetary policy to 10%, down from 11% in April, 2017 as a result of subdued inflationary pressures and weak growth prospects. Stephen Kaboyo,
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Real estate mogul Sudhir Ruparelia has turned down mediation talks with Bank of Uganda (BoU) over the collapse of Crane Bank. The High Court had asked BoU and Sudhir to settle the case out of Court (through mediation), but the latter has rejected the mediation plans, arguing that BoU which sued
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Uganda’s economic recovery may take a little longer going by the rate at which private sector credit is growing. Latest statistics from Bank of Uganda (BoU) and Ministry of Finance, Planning and Economic Development indicate that lending to the private sector has been subdued since 2017 started despite easing in the
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Bank of Uganda (BoU) has denied reports that it is hiding Shs10bn in a secret account in Germany. In a press statement issued Monday morning, BoU Communications Director, Christine Alupo, describes the reports as misrepresentation "of the information that was provided in the testimony by the Bank of Uganda (BoU) before
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