Banks

Digital EconomyEconomyPolitics & Policy

Mobile money dominates formal sector financial inclusion, limitations and all

Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
Politics & Policy

No bank has applied for Islamic banking licence – BoU

No bank has formally applied for an Islamic banking licence even though there have been expressions of interest in the model from both local and international institutions, according to the deputy governor of the Bank of Uganda, Louis Kasekende
Opinion

Commercial banks are key players in the agri-business value chain

While it’s true that most commercial banks in Uganda are not ideally structured to finance individual small-holder farmers directly, the reality is that they still play critical roles within the sector, making them an indispensable part of the overall ecosystem
Two men standing in a tea processing facility
Corporate earnings and results

Centenary Bank 2017 profits drop 8.8%

Centenary Bank made a net profit of Shs100.3bn after tax in 2017, dropping 8.8% from the previous year’s Shs109.9bn
People queueing to use an ATM outside a bank
Corporate earnings and results

Finance Trust doubles net profit after a difficult 2016

Finance Trust Bank has reported a 131% increase in after-tax profit after a difficult 2016
CompaniesCorporate earnings and results

Standard Chartered says restructuring is paying off as costs, and income, decline in 2017

Standard Chartered's financials for 2017 show a narrowing in profitability and revenue, following strong growths in 2016. But, in keeping with a statement released by its chief executive affirming the success of its restructuring plan, total expenses fell for the second straight year
Companies

Barclays Bank reports strong rebound in 2017 earnings

Barclays Bank of Uganda Limited has reported a rebound in after-tax profit growth following a slight dip in 2016
CompaniesCorporate earnings and results

Reflecting on 2017 in the banking sector

From preliminary results, total assets of the banking industry increased by 12% from sh23.7 trillion to sh26.5 trillion 2017. Additionally, all banks met the minimum regulatory capital adequacy last December
CompaniesCorporate earnings and resultsDigital EconomyMarkets

Stanbic’s digital push helps drive profit rise in 2017

Stanbic Bank Uganda touted the success of its digitisation strategy on Wednesday as operating costs fell 3.2% in 2017 compared to a 17.4% rise in the previous year
A Stanbic Bank Uganda branch
Opinion

ACI Uganda setting global standards for Uganda’s financial markets

By Benoni Okwenje Any sector that plays a major role in the growth and development of an economy must aspire ...
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