Banks
Bank of Baroda executive director resigns
Bank of Baroda Uganda on Wednesday announced the resignation of its executive director, Bhati Prithvi Singh, after more than four years in the role
Burn Manufacturing secures funding from AfDB to expand electric cooking in East and Southern Africa
Burn Manufacturing, the Kenyan producer of clean cookstoves and carbon developer, has secured a $4mn grant from the African Development Bank to roll out electric cooking solutions in Uganda, Kenya, and Zambia
Stanbic Bank Uganda declares annual dividend
Stanbic Uganda Holdings Limited today announced an annual cash dividend of Shs3.13 ($0.00086) per share
Phillip Madinga to replace Anne Juuko as Stanbic Bank CEO
Stanbic Bank Uganda, the country's largest bank by assets and profitability, is expected to announce the head of Standard Bank Malawi, Phillip Madinga, as its new chief executive
Dfcu profit soars 40% after bank releases loan loss reserves
Profits at Dfcu Limited rose more than 40 per cent in the first six months, but the company, which derives most of its revenue from Dfcu Bank, reported a fall in income
Stanbic traders boost profits
Uganda's largest bank reported a strong increase in first-half profits despite monetary tightening, as its traders posted their best performance in three years and credit quality improved
Stanbic Uganda’s annual net profit rose
Stanbic Uganda Holdings Limited said its annual net profit rose by 15.2 per cent and was mainly driven by its anchor subsidiary, Stanbic Bank Uganda
Tips for borrowing money: What’s acceptable and what’s not
While the holidays may tempt you to let your financial guard down, it's important to reflect on your financial portfolio to avoid sinking deeper into debt
Two top 100 African bank rankings, same two Ugandan banks
Two rankings of the top 100 African banks in 2023 feature the same two banks from Uganda, both of which also place in the top ten for profitabilityMore Banks
Dfcu ends lay-offs, to offer contracts to former Crane Bank employees
Dfcu Bank will offer new contracts to former Crane Bank employees left over from the integration of the two lenders, a memo sent to staff on Monday said. The new contracts will become effective on 1 April.
Uganda unlikely to achieve middle income status by 2020, World Bank says
The World Bank says Uganda's economy must grow by 12% each year until 2020 if it is to achieve its goal of middle-income status by that time. But that is twice the growth rate it considers realistic for Uganda's GDP in the medium-term
10 things the World Bank says about Uganda’s economy
The World Bank on Tuesday released its eighth Uganda Economic Update outlining its view of the state of the economy, more than six months after it cut off funding over slow execution of projects. Here are 10 key messages from the report.
BoU sees tough times ahead for banks, but confident on stability
The central bank is counting on tougher capital demands to mitigate potential risks to the financial system, following a stormy year for the banking sector during which the regulator took over management of one of the largest lenders.
Bank of Uganda governor expects “small rise” in GDP growth
The prospects for macroeconomic stability in the near to medium term are currently very good, according to the central bank governor. Economic growth in 2017 will be "close to the economy’s medium term potential growth of 5%," he said.
Banks to face tougher capital demands as regulator calls for stricter lending standards
Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
Atlas Mara, Crane Bank’s reported suitor, releases Q3 results; silent on bid
Atlas Mara, the financial services group that has been named as one of the possible buyers of Crane Bank, released unaudited 3rd quarter financial statements showing a 77.5% year-on-year drop in after tax profit for the nine months ended 30 September.
Stanbic Bank follows BoU easing, cuts lending rate by 1%
Stanbic Bank is reducing its prime lending rate by 1% from 22% to 21% effective 1 December, a statement released by the lender said. This follows last week's reduction in the Central Bank Rate to 13%, the fourth consecutive rate cut this year.
Crane Bank takeover — what you need to know, and implications
Bank of Uganda ended weeks of speculation about Crane Bank, announcing on Thursday that it is taking over management of the lender. Here is what you need to know about the central bank's move and what it means for Crane Bank and its customers.
Bank of Uganda takes over troubled Crane Bank, suspends management
Bank of Uganda has taken over the management of Crane Bank Limited, Emmanuel Tumusiime-Mutebile, governor of the central bank, told journalists at a hastily convened press conference on Thursday.
