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
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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,
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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
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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.” On February 27, 2017, BoU announced the takeover of the now defunct Crane Bank by dfcu. However, a
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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%
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Uganda’s Central Bank, the Bank of Uganda (BoU) has said delayed payments by government to its suppliers have greatly contributed to the increasing Non-Performing Loans (NPLs) in the banking industry. This is contained in the Financial Stability Report (FSR) for the year to June 2016 released on January 02, 2017.
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