Kampala, Uganda | THE INDEPENDENT | Barclays Bank Uganda has recorded an impressive performance for the year ended Dec 2017, with a 30% growth in net profit to Shs72bn amidst a surge in the Non-Performing Loans. The financial results released on April 16 shows that the growth in profits was driven …
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Kampala, Uganda | JULIUS BUSINGE | In a bid to offer a wide range of products to its clientele, Opportunity Bank, which is currently categorized under a tier II category of banks, is engaging the regulator, the Bank of Uganda (BoU) on elevating its status to tier I to serve …
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Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank’s Purchase Managers Index (PMI) posted 51.1% growth in February down from 52% in the previous year, signaling a moderate improvement in business conditions in the private sector. Commenting on February’s survey finding, Jibran Qureshi, Regional Economist East Africa at Stanbic said, “business conditions …
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The new move will see the lender venture into non-banking business Kampala, Uganda | ISAAC KHISA | Uganda’s largest lender, Stanbic Bank Uganda, is finalising plans to become a Bank Holding Company (BHC), a step that would enable it access funding more easily but also tighten capital requirements and regulatory oversight. …
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Kampala, Uganda | THE INDEPENDENT | Centenary Bank has allocated Shs- 500bn to boost agriculture financing this year, according to the lender’s head of agribusiness and agricultural finance, Evans Nakhokho. Nakhokho, who was speaking during the 16th African Fine Coffee Conference and Exhibition in Kampala on Feb 15, said the …
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Kampala, Uganda | JULIUS BUSINGE | On Feb.13, Bank of Uganda announced a cut in the Central Bank Rate by 0.5 percentage points to 9% in the next three months as a measure for boosting private sector credit uptake and economic activities. The Governor, Emmanuel Tumusiime Mutebile, said the decline in …
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Kampala, Uganda | THE INDEPEDENT | DFCU bank has become the 8th bank to receive a certificate from the insurance regulator, Insurance Regulatory Authority (IRA-U) to start selling insurance products at its 67 branches countrywide. This is backed by the Financial Institutions Amendment Act 2016. During the handover ceremony at IRA …
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Paris, France | AFP | IMF chief Christine Lagarde warned Saturday that economic stimulus from US tax cuts may lead to a rapid rise in interest rates which would weigh on countries with high debt levels. The International Monetary Fund was going to be “attentive” to the consequences of the …
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Cooperative banks worldwide were financed by cooperatives societies Kampala, Uganda | ISAAC KHISA | For some time now, Uganda’s cooperatives societies have expressed the need to re-establish the Cooperative Bank as their main source of capital for production, processing, diversification and value addition. Whereas they seem to have made a …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Blood Transfusion Service (UBTS) has received a huge boost after the National Social Security Fund in partnership with Equity Bank unveiled a week long blood donation drive on Jan.08. The initiative is expected to collect at least 4,500 units, according to the NSSF …
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The Independent Uganda: You get the Truth we Pay the Price
