Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …
Read More »BUSINESS BRIEFS: NSSF increases stake in Umeme, MTN cuts rates
The National Social Security Fund has bought more shares in power distributor Umeme, increasing its stake from 14% to 23 %. NSSF boss Richard Byarugaba said Fund’s decision was in line with “our statutory mandate to invest NSSF members savings for high returns.” He said the Fund has reached an …
Read More »Stanbic Bank bond gets low subscription amid tight liquidity
By Joseph Were Stanbic Bank Uganda is learning the hard way that this is not a good time to attempt to raise funds on the equity market thanks to lingering after shocks of the global financial crisis. Its 7-year Shs 30 billion bond that was privately placed among institutions and …
Read More »Stanbic Bank Africa unit gets new boss
By Mmegi Online Stanbic Bank Botswana’s Head of Corporate Banking, Jessica Gadimang, has been appointed the new Non-Bank Financial Institutions Sector Head for Stanbic Africa concentrating on franchises outside South Africa. The appointment is effective July 1. According to a statement, the move is in line with Stanbic Bank’s active …
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