Stanbic Bank has welcomed other commercial banks that intend to start business in Uganda arguing that they would stiffen competition and lead to good quality service.
Speaking at a media dialogue in Kampala on Feb.22, Phillip Odera, the bank’s managing director said he has heard news about new commercial banks intending to obtain license in Uganda to offer financial services. “I hear some have already applied to Bank of Uganda,” Odera said. “This is a good move they will give us more pace on which to do our work.”

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