Stanbic Bank Uganda (SBU) is set to recruit 1,000 agents as Ugandan banks ready themselves to embrace a new model of banking-agency (agent) banking, Business Focus has established. This was revealed by Patrick Mweheire, the SBU Chief Executive Officer at the side-lines of a press conference to announce the bank’s
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Stanbic Bank Uganda (SBU) has posted Shs191bn net profit in 2016, up from Shs151bn recorded in 2015. This represents 25% growth. This was revealed Wednesday morning at Serena Hotel, Kampala by the bank’s top management during a media presentation of the bank’s financials for 2016. Like many other banks, Stanbic
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Diamond Trust Bank (DTB) Uganda has significantly written off loans worth Shs34.4bn in 2016, up from Shs5.9bn in 2015, Business Focus reveals. This is contained in the bank’s financial results for the year ended 2016 released last week. As a result of the high Non-Performing Loans (NPLs)affecting the banking industry
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KCB Group has posted UShs1.01trn in Pre-Tax profit for year ending December 31, 2016, up from UShs923.7bn recorded in 2015, representing 10% growth. KCB Group CEO and MD, Joshua Oigara, attributed the improved performance to the bank’s continued and deliberate focus on growth, efficiency, and value creation for shareholders. The
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dfcu Bank has recorded Shs46.2bn net profit in 2016, up from Shs37bn in 2015, representing a growth of 25%. According to dfcu’s financial statements released on Tuesday, loans advanced to customers increased slightly to Shs842.4bn in 2016, up from Shs806.4bn in 2015. This slow growth in lending could be attributed
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On the 15th March 2017, Stanbic Bank Uganda hosted the Africa- China Economic Forum in Kampala. The Forum which will be an annual event is aimed at bringing together Chinese business community and Ugandan companies doing business with china to discuss trade and investment opportunities between the bilateral trading
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To compete favourably with MTN Uganda, Airtel Uganda has partnered with JUMO to introduce ‘Wewole’, a loan product that will allow its subscribers to have credit services through the Airtel Money platform. The new service was launched today (Thursday) at Airtel headquarters in Kampala. Airtel Uganda Managing Director, Anwar Soussa
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On February 15, 2017, the Bank of Uganda (BoU), Uganda’s Central Bank cut the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, to 11.5%, down from 12% in December 2016. Prof. Emmanuel Tumusiime-Mutebile, the Governor, BoU, said that a cautious easing of monetary policy was warranted to
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On January27, 2017, the Central Bank of Uganda, the Bank of Uganda (BoU) announced that dfcu had acquired Crane Bank. It was revealed that dfcu beat off competition from other 12 financial institutions to emerge winner. “… Bank of Uganda has now transferred the liabilities including deposits of Crane bank
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The Bank of Uganda Governor, Prof. Emmanuel Tumusiime-Mutebile has said competition in Uganda’s banking sector is so stiff so much that banks can’ make excessive profits unlike before. Mutebile made the remarks during the closing of the launch of the Eighth Edition of the World Bank’s Uganda Economic Update: “Step
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