The banking industry projects to record drop in net profits Kampala, Uganda | ISAAC KHISA and JULIUS BUSINGE | Dfcu’s net profit has more than quadrupled to Shs114.05bn during the six months ending June 30 compared to Shs23.3bn recorded last year following acquisition of part of Crane Bank assets in …
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Kampala, Uganda | JULIUS BUSINGE | dfcu Bank has posted Shs 114 bn for the first half of this year up from Shs 23bn in the same period last year, according to its interim consolidated financial results released August 15, 2017. According to a notice issued on Tuesday, top management attributed …
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Kampala, Uganda | GODFREY SSALI | The Commercial Court has summoned DFCU bank to file a defence within 15 days explaining why it has refused to pay debts that were incurred by the now closed Crane Bank. This follows a suit filed by an advertising company Premier Advertsing and media Ltd …
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BOU denies hiding cash on foreign account in Germany Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda (BOU) has dismissed as untrue reports that it has hidden Sh10.7 billion in a bank in Germany, an issue that has been widely spread on social media in the past week. In …
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How BoU is overseeing the biggest asset grab ever Kampala, Uganda | HAGGAI MATSIKO | On July 3, Crane Bank which is under receivership by Bank of Uganda (BoU) sued its former owner, Sudhir Ruparelia, and a company called Meera Investments Ltd also owned by Sudhir in what might turn …
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Three top Chief Executive Officers from three different sectors have called on government and the private sector to think big about transforming Uganda’s current peasantry and subsistence agriculture, to a new commercial level Jimmy Mugerwa, the General Manager at Tullow Oil Uganda, William Sekabembe, the Executive Director at dfcu …
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Next fight between Kabaka, Museveni? Did President Yoweri Museveni recently summon Kabaka Ronald Muwenda Mutebi II to a hurried meeting over the rampant land evictions in Buganda? Possibly he did or possibly he did not. What is known is that a meeting took place between them on April 07. …
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It now joins Stanbic, Stanchart, DFCU, DTB that have also recorded surge in profits in 2016 Uganda’s commercial banks spent almost the entire of last year worried about making money in a rather challenging economic environment that was characterised by high interest rates amidst slow economic activities. But they seemed …
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When The Independent recently spoke to William Sekabembe, the chief of business and executive director at dfcu about the bank’s strategy on digital banking, his comments reflected the popular view. “We are investing heavily in technology so we can serve our customers without necessarily opening new branches in all parts …
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Dfcu’s new take-over will help expand its footprint countrywide When Bank of Uganda Governor Emmanuel Tumusiime-Mutebile announced that they were transferring liabilities and assets of Crane Bank to the Development Finance Company of Uganda (Dfcu), many wondered how that was possible. Crane Bank, set up in 1995, has been the …
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