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Tag Archives: bank of uganda

Small banks pay higher interest to savers

Kampala, Uganda | THE INDEPENDENT | Saving with a smaller bank earns you a better return than you would get with glamorous bigger banks, analysis of the latest Bank of Uganda data compilation shows. The data which shows what the banks pay you and charge you shows that commercial banks outside …

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BoU lists banks with lowest lending rates on loans

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …

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Uganda’s foreign exchange reserve stands at 3.9 bln USD

Kampala, Uganda | XINHUA | Uganda’s stock of foreign exchange reserves at end of June 2020 stood at 3.9 billion U.S. dollars, which is equivalent to 5.2 months of future imports of goods and services, the country’s central bank has said. Adam Mugume, executive director of research Bank of Uganda told …

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BOU: Ugandans fearing to spend their money

Kampala, Uganda |  THE INDEPENDENT | Ugandans are expected to hold onto their money for longer compared to pre-coronavirus days as many suspend spending due to insecurity of what the future holds, Bank of Uganda has said. BOU Governor Emmanuel Tumusiime-Mutebile said on Monday that many consumers are expected to be …

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Cross-border informal exports fall by 99%

Kampala, Uganda | THE INDEPENDENT | Small-scale traders operating around Ugandan borders have suffered one of the biggest tumbles with coronavirus bringing their operations to near zero, official figures show. The scale of the impact is shown in the figures compiled by the Bank of Uganda in March, April and …

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Non-performing loans jump to UGX 783 Bn – BoU

Kampala, Uganda | THE INDEPENDENT | The amount of money where borrowers have not made any payments for at least three months grew by 15 percent to 783 billion Shillings between January and March 2020, the Bank of Uganda has said. This is a growth from 666.3 billion Shillings of …

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Bank of Uganda further cuts growth forecast

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has further cut growth forecasts to just over 2 percent an indicator that the impact of coronavirus disease on the economy is deeper than earlier thought. In the June monetary policy statement issued on Monday,  the central bank said that the …

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Bank of Uganda approves NC Bank, CBA integration

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has issued a letter of no objection to the integration of NC Bank and Commercial Bank of Africa to make one bank with the deal expected to be completed at the end of June. The merger of the banks had …

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