• Growth in revenue by Sh64bn • Sh146 billion in profit after tax • 12.9% growth in net customer loans standing at Sh1.76 trillion • 16.3% growth in customer deposits to Sh2.45 trillion Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has reported a growth in revenue by Sh64 …
Read More »DTB wants Bank Agents to sell insurance
Kampala, Uganda | THE INDEPENDENT | Bankers want bank agents to be allowed to conduct Bancassurance business on behalf of the financial institutions to enhance access to the services by the public. Diamond Trust Bank, named Most Innovative Bancassurance Agent 2022, says there is a need to further take services closure …
Read More »NCBA Unveils Enhanced Premier Banking Offering
Kampala, Uganda | JULIUS BUSINGE | On Feb.22, NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended banking hours at select branches, allowing customers to enjoy greater convenience. Additionally, customers now have access to online …
Read More »Diamond Trust Bank opens 37th branch in Sino Industrial Park, Mbale
Mbale, Uganda | THE INDEPENDENT | As part of its commitment to bolster small and medium enterprises, Diamond Trust Bank inaugurated its 37th branch at Sino Uganda Industrial Park today (Feb. 13). Executives highlighted that this strategic move aims to bolster local manufacturing for import substitution and stimulate regional exports. …
Read More »Centenary Bank strengthens collaboration with INTERPOL
Kampala, Uganda | THE INDEPENDENT | Centenary Bank has earlier today committed to positively impacting communities through its Environmental Social and Governance (ESG) agenda. Through its collaboration with INTERPOL that bank recently announced the donation of a state-of-the-art 100-seater tent. This philanthropic gesture aims to enhance INTERPOL’s operational capabilities and …
Read More »Finance Trust Bank to sell 80% stake to a Nigerian Bank
Kampala, Uganda | THE INDEPENDENT | Finance Trust Bank (FTB) has opted to sell an 80% stake to Access Bank PLC, a prominent Nigerian lender operating across more than 20 countries, following the Bank of Uganda’s decision to raise minimal capital requirements for financial institutions. The move, subject to regulatory approvals …
Read More »Equity Bank to take over UPE School over unpaid loan
Wobulenzi , Uganda | THE INDEPENDENT | There is panic among parents and leaders after Wobulenzi Public Primary School in Luwero district was put on sale over failure to repay a loan. In 2019, Richard Mukasa former headteacher with the approval of the office of Luwero Chief Administrative Officer …
Read More »Absa Bank Uganda trains financial institutions’ compliance experts on ethics, conduct
Kampala, Uganda | THE INDEPENDENT | In a bid to equip the financial sector with practical knowledge on ethical framework and conduct in daily operations, Absa Bank Uganda has conducted a one-day training for sector compliance experts. The event, officiated by the Bank of Uganda (BoU) Executive Director for …
Read More »Ssemujju, Lukwago losing fight for FDC
Defeats in courts, Bank, Parliament, Police COVER STORY | THE INDEPENDENT | Parliament on Oct.11 dealt former FDC publicity honcho Ibrahim Ssemujju Nganda another blow when it allowed his position as chief whip of the party to be filled by a leader of the opposing side in their fight for the …
Read More »dfcu Bank’s H1 profits up 56% to Shs29.3bn
But loans and advances to customers reduced by 16% Kampala, Uganda | THE INDEPENDENT | dfcu Bank has reported a 56% improvement in net profit to Shs29.3bn in the first six months to June.30 driven by a reduction in loan impairment. The lender’s financial results released on Aug.24 show continuous growth …
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