dfcu Bank has recorded Shs46.2bn net profit in 2016, up from Shs37bn in 2015, representing a growth of 25%. According to dfcu’s financial statements released on Tuesday, loans advanced to customers increased slightly to Shs842.4bn in 2016, up from Shs806.4bn in 2015. This slow growth in lending could be attributed
Read More
On the 15th March 2017, Stanbic Bank Uganda hosted the Africa- China Economic Forum in Kampala. The Forum which will be an annual event is aimed at bringing together Chinese business community and Ugandan companies doing business with china to discuss trade and investment opportunities between the bilateral trading
Read More
To compete favourably with MTN Uganda, Airtel Uganda has partnered with JUMO to introduce ‘Wewole’, a loan product that will allow its subscribers to have credit services through the Airtel Money platform. The new service was launched today (Thursday) at Airtel headquarters in Kampala. Airtel Uganda Managing Director, Anwar Soussa
Read More
On February 15, 2017, the Bank of Uganda (BoU), Uganda’s Central Bank cut the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, to 11.5%, down from 12% in December 2016. Prof. Emmanuel Tumusiime-Mutebile, the Governor, BoU, said that a cautious easing of monetary policy was warranted to
Read More
On January27, 2017, the Central Bank of Uganda, the Bank of Uganda (BoU) announced that dfcu had acquired Crane Bank. It was revealed that dfcu beat off competition from other 12 financial institutions to emerge winner. “… Bank of Uganda has now transferred the liabilities including deposits of Crane bank
Read More
The Bank of Uganda Governor, Prof. Emmanuel Tumusiime-Mutebile has said competition in Uganda’s banking sector is so stiff so much that banks can’ make excessive profits unlike before. Mutebile made the remarks during the closing of the launch of the Eighth Edition of the World Bank’s Uganda Economic Update: “Step
Read More
A month after dfcu bank acquired the assets and liabilities of Crane bank-at an undisclosed fee, it (dfcu) has announced that it has got a capital boost of US$50M (about Shs179bn). In a statement dated February 28, 2017, the bank revealed that it has concluded an agreement with Arise B.V,
Read More
Standard Chartered Bank Group recently made changes in its top management. Herman Kasekende, the pioneer Ugandan to head Standard Charted Bank Uganda (commonly referred to as StanChart) in 100 years was moved to Standard Chartered Bank Zambia as CEO and Managing Director, ending his four and half year tenure at
Read More
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.” On February 27, 2017, BoU announced the takeover of the now defunct Crane Bank by dfcu. However, a
Read More
The Uganda shilling remained stable amidst muted demand as most corporates stayed out of the market focusing on mid-month tax obligations during the week ending 17th February 2017. Trading was in the range of 3580/3590. In the Treasury bill auction, yields slightly dropped to trade at 12.546%, 12.910% and 13.850%
Read More
