Kampala, Uganda | THE INDEPENDENT | The Uganda Police Force has issued a warning about a new modus operandi being used by criminals posing as bank customers to identify and track individuals withdrawing substantial amounts of cash. There has been a rise in robberies targeting bank clients who have withdrawn large …
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Kampala, Uganda | THE INDEPENDENT | The Uganda shilling seemed to be halting the downward trend against the dollar at the close of the week, at 3,695.05 buying and 3705.05 selling, on Friday, according to the Central Bank. The shilling has been depreciating since December 19, 2024, when the dollar was …
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Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda and Prudential Uganda have concluded a strategic partnership aimed at deepening access to financial services and providing long-term financial security solutions to customers. This collaboration marks a significant milestone in both organizations’ commitment to enhancing financial inclusion and delivering …
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Kampala, Uganda | Michael Jjingo | In the recent past, several Ugandan commercial banks are slowing down the opening of new branches. More than 75% of retail banking transactions are now digital. The bank branch growth is indeed “going south.” Brett King wrote, “And there’s no reason to assume we’ll see …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s industrialists, supported by financial institutions, have decided to lead efforts towards the establishment of an industrial bank. The proposed Uganda National Industrial Bank would serve to reduce the cost of Finance that the private sector persistently fronts as the major challenge to its …
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Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda has seen a significant rise in profits, doubling from Shs 40billion to Shs 80billion for the year ended December 2023. On the other hand, Bank of Baroda experienced a 2.29% decline in profits to Shs 153billion due to increased expenditures. Similarly, …
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• Growth in revenue by Sh64bn • Sh146 billion in profit after tax • 12.9% growth in net customer loans standing at Sh1.76 trillion • 16.3% growth in customer deposits to Sh2.45 trillion Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has reported a growth in revenue by Sh64 …
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Kampala, Uganda | THE INDEPENDENT | Bankers want bank agents to be allowed to conduct Bancassurance business on behalf of the financial institutions to enhance access to the services by the public. Diamond Trust Bank, named Most Innovative Bancassurance Agent 2022, says there is a need to further take services closure …
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Kampala, Uganda | JULIUS BUSINGE | On Feb.22, NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended banking hours at select branches, allowing customers to enjoy greater convenience. Additionally, customers now have access to online …
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Mbale, Uganda | THE INDEPENDENT | As part of its commitment to bolster small and medium enterprises, Diamond Trust Bank inaugurated its 37th branch at Sino Uganda Industrial Park today (Feb. 13). Executives highlighted that this strategic move aims to bolster local manufacturing for import substitution and stimulate regional exports. …
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The Independent Uganda: You get the Truth we Pay the Price