However, the lender remains strong with its capital growing up to 23%, higher than 12.5% regulatory cap Kampala, Uganda | JULIUS BUSINGE | Absa Bank Uganda Ltd saw its net profit sharply drop by nearly 50% from Shs78bn in 2019 to Shs40bn in 2020 as coronavirus pandemic took toll on …
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However, the financial services sector is not out of the woods yet Kampala, Uganda | JULIUS BUSINGE | Uganda has for the fourth consecutive year maintained the 10th position in the Absa Africa Financial Market Index 2020, signalling a stagnation in performance. The report, released by Absa Bank shows …
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ABSA wins big at 2020 Global Retail Banking Innovation Awards Kampala, Uganda | THE INDEPENDENT | The role of Absa Group Limited’s Regional Operations (ARO) in using technology and coming up with strategic responses to the COVID-19 pandemic, have earned them a top Global Retail Banking Innovation Award. Absa Group …
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Lending to be directed to sectors crucial to socio-economic development including SMEs, trade, industry and agri-business Kampala, Uganda | JULIUS BUSINGE | Interest rates have risen over the past two quarters this year but commercial bank executives say current levels are still fair to both lenders and borrowers. The latest …
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COMMENT | VIMAL KUMAR | What is now very clear, is that in terms of digital innovation and progress, we have had to compress several years of evolution into a very short space of time as everyone has been forced to adapt to managing businesses remotely and the deployment …
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Experts define outlook for the sector amidst COVID-19 pandemic Kampala, Uganda | JULIUS BUSINGE | What is the future of agribusiness given the prevailing effects brought about by coronavirus pandemic? How can agribusiness enterprises weather these effects and remain profitable while contributing growth of the economy? These are some of …
Read More »Kampala, Uganda | THE INDEPENDENT | Julius Businge | Following the launch of the Absa brand in Uganda in November 2019, the bank introduced the new Absa Vertical Cards with new and enhanced features. One of the key features on the vertical card is the contactless functionality, which gives customers the …
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Absa has reacted swiftly to the COVID-19 pandemic by designing, offering and implementing smart solutions and offering significant financial respite during these times. COMMENT | Vimal Kumar | When a crisis of the magnitude of Covid-19 strikes, it is our role as a responsible lender to put forward various immediate and …
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Kampala, Uganda | THE INDEPENDENT | Several commercial banks have announced they will revise down their closure time to allow staff enough time to drive home so as not to be caught by the 7pm curfew. While some banks have not yet indicated that they will shift from the …
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NEW PACKAGE: ABSA Uganda customers to be offered payment holidays of up to 6 months to help mitigate effects of COVID-19 Kampala, Uganda | THE INDEPENDENT | As Uganda and the rest of the world confront the public health, financial and economic implications of the COVID-19 pandemic, Absa Bank Uganda …
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The Independent Uganda: You get the Truth we Pay the Price