Centenary Bank profit after tax fell by 8.7% to Shs100.27bn in the year ended December 31, 2017, down from Shs109.9bn recorded in 2016. According to the 2017 results released by Centenary Bank on Friday, the fall in profit is largely due to increased Non-Performing Loans (NPLs) and bad loans written
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Ecobank, the leading pan-African banking group, is inviting African fintech entrepreneurs to enter its Ecobank Fintech Challenge. Now in its second year, the initiative gives African start-ups the chance to promote their fintech solutions, and potentially to partner Ecobank in rolling-out their solutions across Ecobank’s 33 markets. Ecobank is currently
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KCB Bank Uganda Ltd recorded an impressive Shs10.2bn net profit in the year ended December 31, 2017, up from Shs5.4bn recorded in 2016. This represents an increase of 88.8%. This could be attributed to the bank’s general improved performance in various areas. For example, the bank’s use of digital channels
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Ecobank Uganda’s game-changing mobile app has attracted 32,000 customers in a short period of time as the Pan-African bank takes centre stage in Uganda’s online banking market. The app that has been applauded for revolutionizing banking in Africa combats many of the financial inclusion barriers such as dearth of rural
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Equity Bank Kenya has joined the list of lenders appointed by the Kenyan government to disburse cash to elderly citizens under the social welfare programme dubbed Inua Jamii. Poor citizens aged 70 years and above receive Sh4,000 (UShs147,040)every two months in a social safety net that is currently estimated to
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Barclays Bank of Uganda Ltd net profit increased by 30.9% to Shs72bn in 2017, up from Shs55bn recorded in 2016, Business Focus reports. In the financial statements released Monday, Barclays attributed the increase in profits to “a very strong revenue performances and cost efficiencies.” The bank’s total revenue increased by
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Bank of India re-entered the Ugandan market in 2012, having first opened shop here in 1953, but following the expulsion of Asians from the country by former President Idi Amin in 1972, it sold its assets to Bank of Baroda and exited the country. It is a small bank but
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dfcu Bank is in the initial stages of designing an innovative solution for on-boarding new customers. This follows the signing of a contract with the FinTech Company Laboremus Uganda on the 19th of March2018 to accelerate the digitization of its banking systems. The contract will allow the partners to jointly
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In line with KCB Bank Uganda’s strategy to focus on digital channels and the onset of agency banking, the bank has merged its Kikuubo and Ben Kiwanuka Street branches. This is expected to cut the bank’s operational costs. The merger, according to Joram Kiarie, the Managing Director KCB Bank Uganda
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Bank of Uganda (BoU) Governor Prof. Emmanuel Tumusiime- Mutebile and his Deputy Dr. Louis Kasekende have contradicted each other over the performance and eventual controversial takeover and sale of Crane Bank to dfcu. BoU took over the management of Crane Bank on October20, 2016, saying it (Crane Bank) had become
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