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Economy
Crane Bank takeover — what you need to know, and implications
Bank of Uganda ended weeks of speculation about Crane Bank, announcing on Thursday that it is taking over management of the lender. Here is what you need to know about the central bank's move and what it means for Crane Bank and its customers.
October 21, 2016
Companies
Economy
Bank of Uganda takes over troubled Crane Bank, suspends management
Bank of Uganda has taken over the management of Crane Bank Limited, Emmanuel Tumusiime-Mutebile, governor of the central bank, told journalists at a hastily convened press conference on Thursday.
October 20, 2016
Companies
Social media message on Crane Bank inaccurate, says BoU (Updated)
"Guys, if you know anyone with money in Crane Bank, tell them to remove it... Within the next week," the message circulating on WhatsApp on Thursday morning said. It was signed: "Insider BoU." Bank of Uganda has denied the message.
October 13, 2016
Mergers & Acquisitions
Opportunity Bank acquired by international fintech company
Opportunity Bank Uganda has been acquired by the MyBucks Group, a Luxembourg-based financial technology (fintech) company that has operations in ten other African countries. MyBucks announced the acquisition in a statement.
October 13, 2016
Companies
Stanbic borrows from international markets for lending in Uganda
Stanbic Bank Uganda, the country's biggest bank by assets, is borrowing $55 million in Dubai for lending in Uganda. The bank says it reached an agreement with Emirates NBD Capital Limited and four other banks for the two-year loan facility.
September 15, 2016
Companies
Corporate earnings and results
Markets
Dfcu profits rise 70.71% in first half of 2016
Dfcu bank on Friday released provisional half-year results showing a 70.71% growth in net profit and 20.08% growth in net income. Net profit for the period was Shs23.32 billion compared Shs13.66 billion for the first half of 2015.
August 20, 2016
Data
Commercial bank interest rates and charges as at 01 July 2016
The charges and rates are published by Bank of Uganda to "promote transparency and enhance competition in the provision of banking services."
August 11, 2016
Politics & Policy
Too big to fail? The 65 firms Ugandan government apparently wants to bail out
The two most indebted firms on the list, which we are republishing, owe Shs201 billion each, while the third most indebted has outstanding loans of Shs120 billion.
July 25, 2016
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