Uganda’s commercial banks are increasingly turning away borrowers, a latest report from the Bank of Uganda (BoU) reveals. According to BoU’s Monetary Policy Report for June 2017, growth in Private Sector Credit (PSC) remains subdued, despite the easing of the Central Bank Rate (CBR), a benchmark lending rate for commercial
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Equity Bank Uganda has unveiled the EazzyClub App, a web based solution the bank has put in place for Investment Clubs and other Savings and credit Cooperative Societies (SACCO). The App manages SACCO and investment group contributions and activities instantly and transparently, saving both time and money. [caption id="attachment_2121" align="alignnone"
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Small and Medium Enterprises (SMEs) will blossom once agency banking takes root in Uganda, Equity Bank Uganda Executive Director, Anthony Kituuka has said. He revealed this while addressing members of over 40 Investment Clubs at a Cocktail event held on Thursday at the Protea Hotel, Kampala. The event was aimed
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Barclays Bank has become the latest lender to sack its employees in an exercise targeting about 130 employees. In a statement to The Standard, the lender confirmed it was rolling out a Voluntary Exit Scheme that is open to all permanent employees. “This exercise will take place over a period
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The Capital Markets Authority (CMA) says it is not aware that KCB Group #ticker:KCB has made a bid to acquire a 70 per cent stake in the National Bank of Kenya (NBK), #ticker:NBK urging investors to exercise caution when trading in the lenders’ shares. The regulator, in a cautionary statement
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By Patrick Mweheire, Chief Executive Officer, Stanbic Bank Uganda The 2017/18 National Budget delivered on the 8th June 2017, might have left many Ugandans apprehensive about the state of the economyand curious about some of policy levers the Government is using to uplift the real economy and get the country growing again.
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The Bank of Uganda (BoU) on Monday reduced its Central Bank Rate (CBR), a benchmark lending rate for commercial banks to 10% for the Month of June, down from 11% in April, 2017. Announcing the move at BoU headquarters in Kampala, BoU Governor, Prof. Emmanuel Tumusiime Mutebile attributed the reduction
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Stanbic Bank Uganda has appointed Daniel Ogong as its new Head of Marketing and Communications, Business Focus reveals. He takes over from Sonia Karamagi, who has been Acting as Head of Marketing and Communications. Ogong joins Uganda’s most profitable bank from Nile Breweries where he previously worked for 15 years
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Commercial banks play a big role in the economic development of a country-for they offer the much needed credit to not only the private sector, but also government. In this article, Business Focus brings Uganda’s leading banks in as far as lending is concerned. These figures are derived from financial
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Depositors will soon start enjoying increased cover on their money should lending institutions collapse. According to Kenya Deposit Insurance Corporation (KDIC) Acting Chief Executive Mohamud Ahmed, the agency is about to get approval to raise the deposit insurance cover from the current figure of KShs100,000. “The review is set to
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