It shrugged off the effects of COVID-19 to nearly double net profit to Shs83bn Kampala, Uganda | JULIUS BUSINGE | Bank of Baroda Uganda has reported a sharp growth in annual profits, as earnings from loans, foreign exchange and market securities helped to offset the hit from the low interest …
Read More »Stanbic purchasing index up in March, highest since November
Ugandan private companies post successive rise in business activity during March ✳ Key findings ➡ Rising new orders support further output growth ➡ Firms optimistic of further increases in coming months ➡ Higher purchase prices recorded Kampala, Uganda | THE INDEPENDENT | There are signs that the Ugandan economy is gradually …
Read More »Stanbic Bank unveils digitalized platform for clients
Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has launched an end-to-end digitalized trading platform dubbed “Quantum Trade” to enable its customers access import letters of credit and domestic guarantees quickly within few hours, it said on April 06. The online platform will facilitate trade and allow customers receive …
Read More »Dividends for banking investors down but better than expected
Banking executives expect the industry to rebound citing projected growth in the economy Kampala, Uganda | ISAAC KHISA | 2020 was a tough year in almost all fronts: public health, production, new orders, employment, and demand, among others. The once growing economy contracted and interest rates took a deep …
Read More »Stanbic, CNOOC seal deal to collaborate on oil, gas national content
Kampala, Uganda | THE INDEPENDENT | CNOOC Uganda Limited and Stanbic Business Incubator Limited (SBIL) have signed a Memorandum of Understanding (MoU) to facilitate a partnership and collaboration that will significantly contribute to the development and sustainability of national content in the oil and gas sector. Tony Otoa, the Chief Executive, …
Read More »Stanbic Uganda announces 2020 financial results
✳ Loans and advances grew by 27% from Sh2.8 trillion (2019) to Sh3.6 trillion (2020) ✳ Customer deposits increased by 16% from Sh4.7 trillion (2019) to Sh5.4 trillion (2020) ✳ Profit After Tax was Sh242 Billion (2020) down from Sh259 Billion (2019) largely due to the impact of Covid-19 Pandemic on client …
Read More »Stanbic Bank pays Sh110 billion in dividends to shareholders
Stanbic continues to support clients as the economy recovers Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda (SBU) has paid out a total of Sh110 billion to its shareholders for financial year 2019, continuing a long track record of returning consistently positive earnings despite prevailing challenges. At the peak of …
Read More »Schools reopening boosts private sector activity
Private sector optimism picked up in February, ending a two month sequence of job cuts and supported by preparations for a wider reopening of schools in the coming months as concerns over the general election period receded. Posting a reading of 51.2 for February, the Stanbic Purchasing Managers’ Index (PMI) …
Read More »STANBIC REPORT: Employment rises for first time in three months
Reopening of school boosts confidence of private entities and posts a growth in businesses activities ✳ Companies optimistic of the future outlook ✳ Schools reopening and increase in new business supports higher output ✳ Employment rises for first time in three month Kampala, Uganda | THE INDEPENDENT | Private sector …
Read More »Stanbic Schools Championship launched, aims to ’empower the job creators of tomorrow’
Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has officially launched the 6th annual National Schools Championship (NSC) to be held under the theme “Empowering the job creators of tomorrow with the main focus on agriculture, business innovation and IT Skilling”. The National Schools Championship is Stanbic’s flagship education …
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