Markets

CompaniesCorporate earnings and results

Barclays profits dip slightly to Shs55bn

An increase in the expenses set aside for bad loans and customer defaults saw total expenses rise faster than revenue at Barclays Bank last year, leading to a slight decline in after-tax profits.
CompaniesCorporate earnings and results

NC Bank profits drop 35% in 2016

NC Bank Uganda, a subsidiary of Kenya's NIC Bank Group, saw its after-tax profits drop 34.95% in 2016 on the back of rising expenses, results released on Wednesday show.
CompaniesCorporate earnings and results

Centenary Bank loan growth pushes profits to Shs109.9bn in 2016

Centenary Bank profits rose 8.18% to Shs109.9bn in 2016, the bank announced on Monday, largely on the back of a rise in interest income on loans and advances.
People queueing to use an ATM outside a bank
MarketsMergers & Acquisitions

Dfcu has a new majority shareholder after South Africa-based Arise takes stake

Arise B.V., an investment company based in Cape Town, has acquired a majority stake in dfcu Limited, the holding company of dfcu Bank.
Corporate earnings and results

Lower income tax boosts profits at Housing Finance

Housing Finance Bank reported a 22.9% jump in net profits for 2016, helped by a decline in its income tax expense, and a rise in interest income driven by higher returns on investment securities.
CompaniesCorporate earnings and results

Exim Bank falls to Shs4bn loss in 2016

Exim Bank became the first bank to report a loss for 2016, as a dip in activity dragged down its revenues. Profit after tax fell 275% compared to 2015, to a Shs4.1bn loss, because of a decline in revenue to Shs32.5bn from Shs36.3bn in 2015.
CompaniesCorporate earnings and results

Standard Chartered profits quadruple in 2016

Standard Chartered Bank reported profitability bouncing back in 2016 compared with 2015, as a big fall in loan loss provisions brought down total expenses.
Corporate earnings and results

Monitor, NTV revenue drops in tough media environment

Severe cost-cutting helped Nation Media Group limited to stem the bleeding from an 8% fall in revenues as a tough business environment hit the region’s largest media firm.
Offices of the Monitor Publications Limited in Namuwongo
Markets

All banks now primary dealers as Bank of Uganda eases investing in treasuries

The Central Bank has opened up the primary market for government securities to all 24 licenced commercial banks, a move it says aims to make investing in the securities easier and more accessible to the public.
Corporate earnings and resultsEnergy, Oil & Gas

Higher finance costs and flat earnings dim Umeme’s profit

Umeme’s net profit fell 5.8% in 2016 to Shs99.7 billion, weighed down by higher financing costs and flat earnings, the power distributor said in full year results released on Monday.
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