Bank of Uganda Governor, Prof. Emmanuel Tumusiime Mutebile Bank of Uganda (BoU)’s plans to liquidate Crane Bank Limited (CBL) in receivership are illegal and could cost taxpayers more money, should it go ahead, several lawyers have said. Yesterday, the Central Bank put an announcement on its social media channels, purporting
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Equity Group Managing Director and CEO Dr James Mwangi Equity Group profit declined 13.9 per cent to KSh15 billion in the nine months to September from KSh17.4 billion last year after the lender increased its loan book provision 11-fold. The lender’s loan loss provision jumped from KSh1.3 billion to KSh14.3
Read MoreMumba Kalifungwa (L), the Managing Director at Absa Bank Uganda speaking to business journalists and editors Banks will play an important role in Uganda’s economic recovery from the COVID-19 impact, Mumba Kalifungwa, the Managing Director at Absa Bank Uganda has said. He made the remarks during a media round table
Read MoreYusuf Babuwaire, Senior Manager Personal Banking at Housing Finance Bank With the Uganda Bureau of Statistics estimating that the housing deficit in Uganda is at 2.1 million units, experts have said that this situation needs urgent attention. The deficit is estimated to be highest in Kampala. We caught up with
Read MoreMajority of the banks (95.8 percent) reported that they had restructured some of their credit facilities during the first quarter of 2020/21, Bank Lending Survey Report for First Quarter - FY 2020/21 has revealed. “On average, banks indicated to have restructured 29.2 percent of their loan portfolio in the quarter
Read MoreCommercial banks are expected to maintain their price terms and conditions with a bias towards easing for average loans and prime borrowers and tightening for riskier loans in the quarter to December 2020, according to a quarterly bank lending survey conducted by the Statistics Department of Bank of Uganda. “The
Read MoreDr. Adeodata Kekitiinwa (2nd R), Executive Director of Baylor Uganda, receives some of the personal protective equipment donated by Absa Bank Uganda from the bank's ED & CFO - Mr. Michael Segwaya Absa Bank Uganda has donated personal protective equipment (PPEs) to four medical facilities to assist in the protection
Read MoreHow Slowed Economic Activity Will Depress Real Estate Prices & Increase Loan Defaulters
The Bank of Uganda Annual Report for 2019/20 has revealed that the slowdown in economic activity is likely to depress real estate prices and hence result in an increase of banks’ credit risk. “These vulnerabilities are likely to further increase the deterioration in asset quality with the ratio of NPLs
Read MoreBoU Governor, Prof. Emmanuel Tumusiime-Mutebile In the year to June 2020, Uganda’s commercial banks registered strong growth in assets, despite the emergence of several shocks including the COVID-19 pandemic, Bank of Uganda’s recently released Annual Report for 2019/20 has revealed. “The total assets of the banking sector increased by 18.2
Read MoreBoU Governor, Prof. Emmanuel Tumusiime-Mutebile Credit to the private sector Private sector credit (PSC) growth declined to an average annual growth rate of 11.7 percent in FY 2019/20 from the 12.6 percent in FY 2018/19,” the Bank of Uganda Annual Report for 2019/20 has revealed. “Most of the deceleration in
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