Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda has seen a significant rise in profits, doubling from Shs 40billion to Shs 80billion for the year ended December 2023. On the other hand, Bank of Baroda experienced a 2.29% decline in profits to Shs 153billion due to increased expenditures. Similarly, …
Read More »Umeme’s net profits tumble to Shs12 billion
Nevertheless, the company has declared a 22.4% increase in its dividend payout, translating to Sh 78.2 per ordinary share as concession draws closer Kampala, Uganda | THE INDEPENDENT | Uganda’s electricity distribution company, Umeme, has reported a significant decrease in its net profit, plummeting from Shs 148 billion in 2022 to …
Read More »dfcu Bank’s H1 profits up 56% to Shs29.3bn
But loans and advances to customers reduced by 16% Kampala, Uganda | THE INDEPENDENT | dfcu Bank has reported a 56% improvement in net profit to Shs29.3bn in the first six months to June.30 driven by a reduction in loan impairment. The lender’s financial results released on Aug.24 show continuous growth …
Read More »More than half of listed companies on USE recorded profits
Banking entities posted impressive growth in profit after tax during the year owing to the opening up of the economy and the subsequent growth in the private sector credit Kampala, Uganda | ISAAC KHISA | More than half of companies listed on the Uganda Securities Exchange recorded growth in profits in …
Read More »Tax or not to tax Unit Trust Fund profits
Players warn that the move could discourage the growing savings culture Kampala, Uganda | JULIUS BUSINGE | Over the past few years, Uganda started experiencing a surge in the local population, especially youth interested in saving, growing their capital for future investments through the Unit Trust Funds. This is because Unit …
Read More »Stanbic shareholders to get Shs235bn as profits surge to record high
However, SBG Securities Ltd.’s revenues were impacted largely by a drop in capital markets activities Kampala, Uganda | THE INDEPENDENT | Stanbic shareholders will get Shs 6.98 per share totalling Shs 235bn following a 33% growth in profits for the year ended December 31, 2022. This is 1.7% higher than the …
Read More »Lufthansa returns to profits after COVID-19 slump
Berlin, Germany | Xinhua | After two consecutive years of losses, Germany’s flagship airline Lufthansa said on Friday it had once again made a profit in 2022, as international air traffic recovered from the COVID-19 pandemic. Due to “strong increase in demand for air travel over the course of the year,” the …
Read More »Uganda bank profits rose 27% in 2021 amid pandemic concerns
The banking industry except two credit institutions held strong capital buffers signalising increased resilience to potential shocks Kampala, Uganda | ISAAC KHISA | Uganda bank profits rose 27% in 2021 from the previous year as the economy partially recovered, but the industry’s future faces uncertainty due to the ongoing Russia-Ukraine …
Read More »BANKING: BOU warns of Ukraine threat on economy
Nine out of the 26 commercial banks register a decline in profits in 2021 Kampala, Uganda | THE INDEPENDENT | Nine out of the 26 registered commercial banks in Uganda registered a decline in profits in 2021, compared to the previous year. Over the same period, eight banks registered a …
Read More »Banks record 874 Billion Shillings profits during lockdown
Kampala, Uganda | THE INDEPENDENT | A Bank of Uganda report has revealed that commercial banks recorded profits to a tune of 874 Billion Shillings between March and September 2020. This is despite the Covid-19 pandemic that led to the closure of many businesses after the country went into lockdown. According …
Read More »