Ecobank Uganda posted profits for the first time since joining the Ugandan market in 2008. The bank made a net profit of Shs813m in 2016, up from a loss of Shs764m in 2015. The bank also saw its loans advanced to customers slightly increase to Shs117.3bn, up from Shs116.9bn in
Read More
Fresh details have emerged surrounding the controversial collapse and eventual sale of Crane Bank to dfcu bank, Business Focus reveals. For the first time, the Bank of Uganda (BoU) and Ministry of Finance have spoken out on the reported Shs200bn government apparently injected in Crane Bank in order to save
Read More
The collapse of Crane Bank and its eventual controversial sale to dfcu bank is far from over as many questions remains unanswered. The latest is that Parliament wants the Executive to explain circumstances surrounding the capitalisation and sale of Crane Bank, owing to the fact that prior to its sale,
Read More
Uganda’s commercial banks have been releasing their 2016 financial results in the past few months as prescribed by the law. Business Focus has critically analysed the results of the 24 banks, taking into account key performance parameters such as profits, customer deposits, loans advanced to customers, bad loans written off,
Read More
By Peter Abaanabasazi Centenary bank customers in Hoima district have expressed concern over what they termed as poor customer care manifested in long queues coupled with a few tellers. The Hoima Municipal Mayor, Grace Mugasa and one of Centenary Bank’s customers noted that there is need for the bank management
Read More
United Bank for Africa (UBA) Uganda has recorded a profit for the first time since it launched operations in Uganda in 2008. According to UBA’s audited 2016 full year results, the bank recorded an impressive 24% growth in total income of Shs29.7bn in 2016, up from Shs24bn in 2015, illustrating
Read More
A teacher from Trans Nzoia County is in deep agony, thanks to money he borrowed from a bank to improve the welfare of his family. John Manyara says he borrowed KSh1.2 million from the bank in August 2011. He was supposed to repay the loan over six years, meaning he
Read More
Centenary Bank, the leading indigenous bank in Uganda has overcome the economic headwinds of 2016 to record impressive results for the year ended December 2016. According to the bank’s financials released on Monday, Centenary Bank posted a net profit of Shs109.9bn in 2016, up from Shs101.6bn recorded the previous year,
Read More
On March31, 2017 President Yoweri Museveni assented to The Financial Institutions (Amendment) Act, 2016 that provides for Islamic banking, banc assurance and agent banking among other things. While these additions to Uganda’s financial sector are new, they are not completely new to the rest of the world. In fact, Kenya
Read More
dfcu Limited has announced Arise B.V as its majority shareholder, Business Focus reports. According to a statement issued by the Board of Directors of dfcu Ltd on April19, 2017, the transfer of shares into Arise B.V by NorFinance A.S and Rabo Development has been successfully completed. “Arise B.V. consequently holds
Read More
