dfcu bank has recorded an impressive Shs127.6bn net profit in the year ended 31 December 2017, up from Shs46.2bn registered in 2016. This means that the profit increased by a record Shs81.4bn. According to the bank’s financial statements released Thursday, dfcu bank registered impressive results on all key performance parameters
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Stanbic Bank Uganda has posted Shs200bn net profit in 2017, up from Shs191bn in 2016. This represents 5% growth. Releasing the results at Sheraton Hotel Wednesday morning, Stanbic Bank Uganda CEO, Patrick Mweheire said 2017 was a challenging year, noting that they had to do ‘smart things’ to record impressive
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Former Bank of Uganda (BoU) Executive Director in charge of Supervision, Justine Bagyenda is not about to stop making news. The latest is that her MTN Mobile Money account details have leaked indicating how wealthy she is. According to Bagyenda’s MTN Mobile Money account details obtained by Business Focus, she
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On October 20, 2016, Uganda’s Central Bank, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank became “a significantly undercapitalized institution.” Further, on February 27, 2017, BoU announced that dfcu Bank had taken over Crane Bank. This was after
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The Bank of Uganda Deputy Governor, Dr. Louis Kasekende has revealed why Ugandan commercial banks have low appetite to lend to majority Ugandans (Small and Medium Enterprises) is low. “…the informal small and micro enterprises pose very different challenges for the banks. Their revenues are volatile and their long term
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The deposits of more than 700,000 people in Ghana are under threat amid a crisis in the country's financial sector. The Central Bank paints a grim picture of a financial sector in desperate need of help after it emerged microfinance institutions and the Rural and Community Banks owe the depositors
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Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has trashed and rejected the Inspector General of Government (IGG)’s directive to the Board of Directors of the Central Bank not to endorse recent staff appointments and transfers. Lady Justice Irene Mulyagonja Kakooza, the IGG had in letters dated February 23, 2018 and
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Kenyan commercial banks have increased or introduced new loan approval fees to capitalise on the increased appetite for loans in the wake of a cap on interest rates, the Standard reports. A new study by the Central Bank of Kenya (CBK) found that commercial banks have shifted lending to the
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Barclays Bank Uganda has confirmed leakage of Justine Bagyenda’s account details, saying that it regrets the unlawful act. This is after account details of former Bank of Uganda Executive Director in charge of Supervision leaked to the media, exposing her wealth and weaknesses in banks where she has accounts. In
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By Aloysious Kasoma dfcu bank has moved to consolidate its partnership with Non-Governmental Organizations (NGOs) as well as cashing in-on new ones. The second biggest commercial Bank in Uganda on Friday hosted a breakfast meeting with over 150 current and prospective NGOs at the Imperial Royale Hotel, with an aim
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