Tag Archives: bank

London, UK | Xinhua | The Bank of England (BoE) has raised its benchmark interest rate by 0.25 percentage points to 4.25 percent, the highest since autumn 2008, according to a BoE statement issued on Thursday. At its meeting ending on Wednesday, the central bank’s Monetary Policy Committee (MPC) voted …

SVB had around 90% of its accounts with more than $250,000 in deposits, which is “higher than your typical bank Kampala, Uganda | THE INDEPENDENT | Silicon Valley Bank is now known as the biggest U.S. bank failure since 2008. Before becoming known globally for its chaotic collapse, SVB was well-regarded …

Kampala, Uganda | THE INDEPENDENT | The Committee on Defence and Internal Affairs will examine different bank accounts operated by Police Savings and Credit Cooperative Organization (SACCO), Exodus. This arises from the observation that the Police Sacco which was founded in 2007 has been opening and operating new bank accounts each …

London, UK | Xinhua | HSBC, the largest bank in Europe, on Monday said it had bought the United Kingdom (UK) operations of the failed U.S. lender Silicon Valley Bank (SVB) for a single symbolic pound (1.21 U.S. dollar). The move is expected to save many British startups from huge …

Kampala, Uganda | THE INDEPENDENT | The Reserve Bank of Malawi has awarded a licence to Centenary Group and the Catholic Church Archdiocese of Lilongwe to carry out banking operations in Malawi. The name of the new bank is Centenary Bank Limited, with Centenary Group holding majority shareholding and the Catholic …

Kampala, Uganda | THE INDEPENDENT | The headline Stanbic Purchasing Managers’ Index (PMI) dipped to 51.2 during February from 53.2 in January as business activity increased in the services and wholesale and retail categories, but decreased in agriculture, construction and industry. However, the Ugandan private sector remained in growth territory at …

Kampala, Uganda | THE INDEPENDENT | Dfcu Bank’s Agribusiness Development Centre and Rabo Foundation have partnered with GOPA Worldwide consultants to implement two consecutive cohorts of the Business Accelerator Program (BAP). The initiative which is in line with the national program of Enhancing the Competitiveness of Small and Medium Enterprises (ECOS) …

Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank maintained the Central Bank Rate at 10% saying it is still effective to control the rise in inflation, bring stability to the lending and exchange rate, and drive economic growth. Uganda Bureau of Statistics reported at the end of last month that …

Kampala, Uganda | THE INDEPENDENT | DFCU Bank has launched a new 12-week campaign to inspire customers to ‘Reach for More’ by taking advantage of its special financial packages to achieve their aspirations/needs conveniently during the new year. Under the campaign, the Bank is providing collateral free loans (unsecured loans) of …

Dar es Salaam, Tanzania | Xinhua | Tanzanian President Samia Suluhu Hassan has appointed a new governor of the east African nation’s central bank, the presidency said in a statement late Saturday. The statement by the Directorate of Presidential Communications said President Hassan has appointed Emmanuel Tutuba as the new governor of …