The Government of Uganda through Ministry of Finance, Planning and Economic Development has finalized plans to increase its shares in Housing Finance Bank (HFB), Business Focus reports. The motion seeking to increase government shareholding in HFB from the current 45% was tabled before Parliament on Wednesday by David Bahati, the
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Assets are one of the key parameters that determine how strong a financial institution is. And having obtained the 2016 financial results for Uganda’s 24 banks that have been released in the past few months, Business Focus exclusively reveals Uganda’s largest banks by assets. This will help you know how
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On October 20, 2016, the Bank of Uganda (BoU), the regulator of Uganda’s financial sector, took over the management of Crane Bank Ltd after it (Crane Bank) became “a significantly undercapitalized institution.” Consequently, on February 27, 2017, BoU announced the acquisition of the now defunct Crane Bank by dfcu. The
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Stanbic Bank shareholders have approved a Shs60bn payout as dividends at their Annual General Meeting held on 10th May in Kampala. This represents a 50% increment from the Shs40bn paid in 2015 and is equivalent to Shs 1.17 dividend per share, up from Shs0.78 the previous year. Opening the AGM
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SAP has announced the launch of its SAP Rural Sourcing Management solution, connecting smallholder farmers and suppliers in rural areas with the supply chain of global agribusinesses and consumer products companies. SAP Rural Sourcing Management is an integrated, cloud-based solution running on SAP Cloud Platform. This solution enables Agribusinesses as
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Plans and procedures for acquisition of Crane Bank Rwanda by Commercial Bank of Africa (CBA) are at an advanced stage with the deal expected to be completed soon, reports say. The sale of Crane Bank Rwanda comes months after the parent firm, Crane Bank, was sold to Dfcu Bank, both
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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
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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
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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,
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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,
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