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Ugandan banks not yet out of the woods

The real impact of COVID-19 pandemic on banks will be seen in the second or third quarter of next year Kampala, Uganda | ISAAC KHISA | Ugandan commercial banks may believe that they are headed for recovery amid the novel coronavirus pandemic but the headwinds are still big, said Tumubweine …

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Bankers reveal where they will put money after COVID-19

Kampala, Uganda |  THE INDEPENDENT |   The banking sector is advising investors and other private sector borrowers to re-think their investments and investment plans because the attractiveness of investments to credit has been highly affected by the COVID-19 pandemic.       The pandemic scared lending institutions away from the private …

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Bankers criticized for not assisting agricultural sector

Kampala, Uganda | THE INDEPENDENT | Commercial banks and government have been criticized for not putting much emphasis on developing the agriculture sector. Dr James Kanyije, the executive director of KK Foods Limited said on Thursday that bankers had let farmers down by classifying the sector as risky. He said …

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Ugandans hold UGX 8.5 trillion in fixed deposits– BoU

Kampala, Uganda | THE INDEPENDENT | Ugandans have stashed record amounts of cash in banks, an indicator Ugandans feared to spend their money with the coronavirus uncertainty still hovering around. Bank of Uganda data shows that in May 2020, the amount of money Ugandans have in banks as term deposits reached …

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Banks boost customers’ confidence in insurance – Players

Kampala, Uganda | THE INDEPENDENT | More Ugandans are buying insurance through their banks as the channels have boosted confidence in insurance, players have said. Official figures show an upward curve of insurance products through banks, which is technically known as bancassurance. It started in Uganda in 2017 after the amendment …

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Banks resume full operations after lift on lockdown

Kampala, Uganda | THE INDEPENDENT | Several commercial banks have announced resumption of full operations after the COVID-19 lockdown was lifted on most business activities across the country. Tropical bank, Stanbic Bank, and Centenary Bank have written a note to customers that their doors will be open between 8:30am 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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