The 2018 financial results of Centenary Rural Development Bank Ltd commonly referred to as Centenary Bank will leave a smile on its shareholders after the bank posted impressive results again. According to the bank’s financial statements for the year ended 31st December 2018, Uganda’s biggest indigenous bank recorded Shs107.63bn net
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Shareholders of Tropical Bank Uganda Ltd will not be smiling to the bank again after their bank posted losses for the third consecutive year. According to the bank’s financial statements for the year ended 31st December 2018, Tropical Bank losses increased by 4.9% to Shs5.78bn in 2018, up from Shs5.52bn
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Equity Group Holdings (EGH) has announced plans to acquire banking assets of Atlas Mara in four African countries in a transaction to be done through shares swap. This follows an agreement into the deal by Equity’s Board of Directors. Atlas Mara is a financial services company listed on the London
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Ecobank Uganda is past dark days after posting a net profit of Shs4.78bn in 2018, up from Shs1.54bn recorded in 2017. This means that the bank has now recorded profits for the third consecutive year. The bank’s financial statements for the year ended December 31, 2018 released today indicate that
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Equity Bank Uganda Ltd is increasingly becoming a dominant financial institution in Uganda’s banking industry. Having joined the Ugandan market over 10 years ago, the bank has come up with strategies aimed at making it the number one bank in Uganda in 10 years to come. In a market of
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Uganda BRAC, one of the largest Microfinance institutions in has transformed into a Tier 2 Credit Institution (Bank) after receiving a license from the Bank of Uganda. BRAC boasts of over 270,000 customers. According to Jimmy Onesmus Adiga, the Chief Executive Officer, the bank will trade as BRAC Uganda Bank
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Barclays Bank of Uganda Ltd recorded Shs68.84bn profit after tax in 2018, down from Shs72bn registered in 2017, representing a reduction of 4.38%. This is according to the bank’s financial results for 2018 released yesterday. A critical look at the figures show that the profit reduced due to increased expenditure
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Bank of Uganda, the regulator of the banking sector in the country is set for tough times ahead following the refusal by MPs to approve the Shs484.2bn the Central Bank had requested for recapitalization. The MPs instead reduced the figure to Shs200bn on grounds that the figure wasn’t justified and
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By Felix Oketcho The International Finance Corporation (IFC), a member of the World Bank has extended $1.9million (about Shs7.1bn) to Agent Banking Company of Uganda (ABC) to support growth of agent banking services in rural areas. The partnership between Agent Banking Company and IFC was officially launched this morning at
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The robbers who stole KSh11 million (UShs405m) from four ATMs belonging to Barclays in Nairobi over the Easter weekend belonged to one gang suspected to have worked in cahoots with employees from the bank and a security company, Daily Nation reports. On Monday, detectives from the Directorate of Criminal Investigations
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