Kampala, Uganda | THE INDEPENDENT | Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has cited possibility of conflict of interest in the sale of Global Trust Bank to DFCU. The committee in Friday continued its investigation into a decision by Bank of Uganda (BoU) to sale the Bank …
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The Bank of Uganda has maintained the benchmark central bank rate at 10 percent. Kampala, Uganda | THE INDEPENDENT | Governor BoU Emmanuel Tumusiime Mutebile says that the 12-month inflation forecast has improved slightly relative to October 2018 forecast. The Consumer Price Index data by Uganda Bureau of Standards indicates that …
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Kampala, Uganda | ISAAC KHISA | Cairo-based African Export-Import Bank (Afreximbank) is seeking to recruit at least 700 commercial banks as agents across the continent to extend financial services to Small and Medium Enterprises (SMEs). Amr Kamel, the Bank’s Executive Vice President, Business Development and Corporate Banking, said the multi-lateral lender …
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Kampala, Uganda | THE INDEPENDENT | Stanbic Bank is set to open three more business incubation centres countrywide as it seeks to tap into investments in the oil and gas industry ahead of the production. Patrick Mweheire, the bank’s Chief Executive, said the lender will open the three training centres in …
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Kampala, Uganda | ISAAC KHISA | The country’s banking industry recorded a sluggish profit growth in 2017 but it projects a positive outlook a head. Fabian Kasi, the managing director of Centenary Bank spoke to The Independent’s Isaac Khisa about the industry’s growth prospects. Ashead of one of the country’s …
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What it will take to turnaround fortunes of a bank with negative publicity and mixed performance Kampala, Uganda | JULIUS BUSINGE | The new Chief Executive Officer of dfcu bank is many things that his predecessor is not. He is an economist, young and top business executive. He also holds a …
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Hong Kong, China | AFP | Asia-focused bank Standard Chartered on Wednesday said pre-tax profits rose 25 percent in the first nine months of the year, and warned it was keeping tabs on worsening China-US trade tensions. The results come as the world’s top two economies have imposed a series …
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BoU says it’s not responsible for secrecy of customers’ information Kampala, Uganda | ISAAC KHISA | Privacy of customer data is the bedrock of the banking sector around the world but for a section of Uganda’s commercial banks, this code seems to be slowly eroding— posing a big risk to the industry …
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London, United Kingdom | AFP | British bank Barclays on Wednesday reported a 72-percent surge in quarterly net profits as strong performances by its retail and credit card divisions offset weakness at its investment unit. Profit after tax jumped to £1.0 billion ($1.3 billion, 1.1 billion euros) in the three …
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Johannesburg, South Africa | AFP | South Africa’s President Cyril Ramaphosa on Monday denied accusations that he ignored widespread looting and financial misconduct at a major retail bank that collapsed weeks after he came into office. VBS Mutual gained notoriety in 2016 when it lent scandal-tainted former president Jacob Zuma $540,000 …
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