Kampala, Uganda | THE INDEPENDENT | PostBank has announced its financial results with a 19% increase in net profit for the year ended December 31st, 2022. The state-owned bank reported a net profit of UGX. 15.1 billion, a solid year-over-year growth of 19.3% up from the UGX. 12.2 billion net profit …
Read More »PostalPay to slash cost of sending money from Europe to Uganda
Remittance inflows to Uganda stood at US$1.08 billion in 2021 Kampala, Uganda | RONALD MUSOKE | Uganda’s rural population will now be able to access key financial services through a new mobile application known as PostalPay. The app developed by cross border payment companies –Inpay and Eurogiro – in …
Read More »UAP Old Mutual and PostBank Uganda offer financial wellness class
Kampala, Uganda | THE INDEPENDENT | UAP Old Mutual is partnering with PostBank to organize a financial wellness class hosted on Twitter Spaces, Facebook as well as Zoom and YouTube. The webinar themed “Learn, Grow, Protect Your Finances,” will be moderated by TV personality, Mildred Tuhaise and is set to …
Read More »PostBank enters tier one territory for banks
PostBank Uganda has officially announced its ascension to tier one status after receiving a license from the Bank of Uganda. Kampala, Uganda | THE INDEPENDENT | The bank, as mandated by the law, shall no longer be categorized as a credit institution but as a deposit taking financial institution that …
Read More »PostBank net profit up 16.7%
Supported by earnings on deposits, loans, fees and commission Kampala, Uganda | JULIUS BUSINGE | Tier II lender, PostBank Uganda has reported an increase in profit after tax from Shs8.3bn in 2019 to Shs10bn in 2020 amidst the COVID-19 pandemic crisis. According to its financial results released on May 03, …
Read More »Digital offers comedian Richard Tuwangye new opportunities
Kampala, Uganda | THE INDEPENDENT | Life has not been the same for renowned Ugandan actor and comedian Richard Tuwangye aka Amoosi since the nationwide lockdown was announced in March 2020. The arts and creative sector from which Tuwangye makes a living was among the hardest hit. With social distancing …
Read More »PostBank embarks on digital transformation journey
But the lender faces an uphill task of looping its customers onto it Kampala, Uganda | JULIUS BUSINGE | Tier II lender, PostBank Uganda, is embarking on a digital transformation journey aimed at decongesting customers in the banking halls, cutting down operational costs and driving profits upwards. This follows the …
Read More »Postbank responds to bank of Uganda’s move on loans
Kampala, Uganda | JULIUS BUSINGE | In a bid to give some relief to its clients, PostBank has announced that it will reschedule loan repayments for customers whose lives and businesses have been impacted by COVID-19 pandemic, it announced a few days ago. This move comes as Bank of Uganda (BoU) continues …
Read More »Edwin Keronga to head PostBank as Mukweli bows out
Kampala, Uganda | THE INDEPENDENT | Edwin Keronga has been appointed Managing Director of PostBank Uganda Limited, following the resignation of Stephen Mukweli. Mukweli who has been the bank’s Managing Director since the early 2000s, handed in his resignation to the bank’s board chairman Grace Bakunda on Friday, a day …
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