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Corporate earnings and results
Stanbic Bank reports 27% rise in 2016 profits
Stanbic Bank, Uganda's largest bank, has released financials for 2016 showing a 27% increase in net profit, a solid performance in a challenging year for the banking sector.
March 29, 2017
Corporate earnings and results
Dfcu Bank profits up 25% in 2016
Dfcu Bank Limited increased after-tax profit by 25% to Shs46.3 billion in the year to December 2016 despite a tumultuous year for the banking sector, according to summary financials released on Tuesday.
March 21, 2017
Companies
Dfcu ends lay-offs, to offer contracts to former Crane Bank employees
Dfcu Bank will offer new contracts to former Crane Bank employees left over from the integration of the two lenders, a memo sent to staff on Monday said. The new contracts will become effective on 1 April.
March 20, 2017
Economy
Uganda unlikely to achieve middle income status by 2020, World Bank says
The World Bank says Uganda's economy must grow by 12% each year until 2020 if it is to achieve its goal of middle-income status by that time. But that is twice the growth rate it considers realistic for Uganda's GDP in the medium-term
February 7, 2017
Economy
10 things the World Bank says about Uganda’s economy
The World Bank on Tuesday released its eighth Uganda Economic Update outlining its view of the state of the economy, more than six months after it cut off funding over slow execution of projects. Here are 10 key messages from the report.
February 7, 2017
Economy
BoU sees tough times ahead for banks, but confident on stability
The central bank is counting on tougher capital demands to mitigate potential risks to the financial system, following a stormy year for the banking sector during which the regulator took over management of one of the largest lenders.
January 3, 2017
Economy
Bank of Uganda governor expects “small rise” in GDP growth
The prospects for macroeconomic stability in the near to medium term are currently very good, according to the central bank governor. Economic growth in 2017 will be "close to the economy’s medium term potential growth of 5%," he said.
December 5, 2016
Economy
Banks to face tougher capital demands as regulator calls for stricter lending standards
Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
November 28, 2016
Companies
Atlas Mara, Crane Bank’s reported suitor, releases Q3 results; silent on bid
Atlas Mara, the financial services group that has been named as one of the possible buyers of Crane Bank, released unaudited 3rd quarter financial statements showing a 77.5% year-on-year drop in after tax profit for the nine months ended 30 September.
October 25, 2016
Companies
Stanbic Bank follows BoU easing, cuts lending rate by 1%
Stanbic Bank is reducing its prime lending rate by 1% from 22% to 21% effective 1 December, a statement released by the lender said. This follows last week's reduction in the Central Bank Rate to 13%, the fourth consecutive rate cut this year.
October 24, 2016
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