Dfcu Bank have been reassured of a strong base by Dfcu Ltd. According to Dfcu Ltd, the financial institution is well positioned for growth. Dfcu was established in 1964 with the aim of creating a commercially operated development organization to support the economic transformation of Uganda. The reassurance comes on
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The Chief Executive Officer of Arise Holdings Ltd, which is DFCU Bank’s biggest shareholder, has resigned from the bank’s board of directors, throwing the future of the financial institution following it’s controversial takeover of Crane Bank into more turmoil . Mr Deepak Malik’s resignation, which was issued in a letter
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The Chairman of the DFCU Bank Group, Elly Karuhanga has revealed that the bank is preparing for new shareholders. Karuhanga told a local radio station that the bank is strong and that shares are being bought and sold by the company. Analysts believe that the remarks are admission that the
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Dfcu Bank is set to lose its major and oldest investor, CDC. CDC, Britain’s oldest Development Finance Institution, joined hands with the Government of Uganda in 1964 to set up Dfcu. CDC’s investment in Dfcu, according to the institution’s official website, is US$15.1m (equity) and US$10m (subordinated loan) As of
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Ecobank Uganda has launched a transact and win promotion geared at driving utilization of the bank’s state-of-the-art Ecobank Mobile App under the tagline “putting power at your fingertips.” Speaking at the launch event on Sunday at Riders Lounge during the Australian Formula One Grand Prix that attracted Uganda’s top corporates,
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The Finscope Uganda 2018 report has revealed that only 3 percent of the Uganda’s adult population borrow money from a commercial bank. The report was launched Wednesday morning at Kampala Serena Hotel. The Finscope survey found that the breadth of access to financial services is quite wide in Uganda, with
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dfcu Bank in partnership with NTV Uganda and Price Waterhouse Coopers (PwC) have launched Season II of the Investment Clubs Challenge dubbed ‘Battle for Cash.’ Battle for Cash is a nationwide campaign targeted at instilling a savings and investment culture in Uganda. In 2017, dfcu Bank held a six-month
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Bank of Uganda (BoU) has expressed disappointment that no financial institution has applied formally for a license to offer Islamic Banking services in Uganda. Dr. Louis Kasekende, the Deputy Governor, BoU said the Financial Institutions (Islamic Banking) Regulations, 2018 are now in place. “These regulations permit the BOU to issue
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Chief executives of publicly traded Kenyan banks are paid nearly 50 times what the median bank employee earns, the latest executive pay data shows, offering insight into the extent of wage inequalities in Kenya’s private sector, reports Business Daily. This remuneration structure means a typical bank employee in Kenya will
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By Aloysious Kasoma Orient Bank Uganda has marked 25 years of banking business under the guardianship of a successful family. The bank which has since hit 23 branches and 25 ATMs across the country held its celebrations at Serena Hotel on the Tuesday. Speaking during the event, the founder and
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