dfcu bank Chief of Business & Executive Director, William Sekabembe has revealed that banks that will not invest in technology are set to become obsolete. “Our commitment is to invest in technology. If banks don’t invest in technology, they will become irrelevant,” Sekabembe said, adding: “We are enhancing our technology
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Bank of Uganda (BoU) Deputy Governor, Dr. Louis Kasekende has made steps to block a forensic audit by the Auditor General into the operations of the Central Bank and its role in the closure of four commercial banks. Kasekende wrote to the Attorney General on April 19, 2018, protesting an
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By Kiconco Katabaazi Patrick /Advocate-Public Policy Specialist It is at this time of the year that the press and public domain gets busy with buzz about the budget and tax proposals. According to section 13 (11a) of the Public Finance Management Act,2015 the Minister of Finance is mandated to present
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Equity Bank has been voted the best lender after it shrug off effects of the legal cap on lending rates to beat rivals in the profit growth race. Think Business banking awards ranked Equity top ahead of Barclays Bank “Equity and Citi Bank scored highly on financials,” said Ochieng Oloo,
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Barclays Africa Group Ltd shareholders Tuesday approved that the group changes its name to Absa Group Limited in July, setting in motion the start of one of the largest re-brand projects in Africa at this time. “The vote in support of our name change in July marks another milestone in
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Ugandan banks have recorded high Non-Performing Loans (NPLs) and bad loans written off in recent years due to high interest rates and a sluggish economy that have forced many borrowers to default on their loans. Business Focus exclusively ranked banks with most loan defaulters/NPLs basing on the results banks have
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Patrick Mweheire, the Chief Executive of Stanbic Bank, Uganda’s largest commercial Bank has been elected the new Chairman of the Uganda Bankers Association (UBA). He takes over from Fabian Kasi who held the position for the past three years. Mweheire is an accomplished banker with extensive commercial and investment banking
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2017 was a tough year for Uganda’s banking sector just like the past five years. However, the results commercial banks have been releasing in the past two months indicate that the sector is slowly recovering from the 2011 crisis when inflation and interest rates hit 30%, a thing that resulted
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Banks have in the last two months been releasing their financial results for the year ending December 31, 2017. The results obtained and analysed by Business Focus indicate that the banking sector is yet to fully recover from the 2011 crisis that saw inflation cross the 30% mark, a thing
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The Chief Executive Officer of Standard Chartered Bank of Kenya, Lamin Manjang earned a total of KShs104 million (UShs3.84 billion) in the year ended December 2017, the lender has disclosed in its latest annual report. Mr Manjang, who has worked for several subsidiaries of the parent company Standard Chartered Plc,
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