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Tag Archives: interest

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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Banks 2018 surprise

Low interest rates still hinder industry profitability Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks will pull off a surprise profit growth amidst low interest rates that dominated 2018. This is due to a sharp decline in the Non Performing Loans and growth in the private sector credit as prospective …

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Mutebile: BoU to review policy on conflict of interest

Kampala, Uganda | THE INDEPENDENT | The Central Bank Governor Emmanuel Tumusiime Mutebile has said that they will review the Bank’s policy on conflict of interest. Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) is currently investigating circumstances under which the Central Bank closed and sold seven commercial banks …

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Conflict of interest cited in Global Trust Bank sale

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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NSSF members have a reason to celebrate

Fund pays 15% interest to members, the highest in history Kampala, Uganda | JULIUS BUSINGE | National Social Security Fund rarely misses the opportunity to boast about the billions of shillings it rewards to its members every year in form of interest income. This was the same situation on August 28 …

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Stanbic Bank cuts interest rates

Kampala, Uganda | THE INDEPENDENT | In response to the October monetary policy statement by the Bank of Uganda and the decision to reduce the Central Bank Rate by 0.5 percentage points to 9.5 %, Stanbic Bank has matched the Central Bank’s rate cut by reducing its Prime Lending Rate from …

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