It has lent out US$3.4bn and employed 2500 permanent staff Kampala, Uganda | JULIUS BUSINGE | Commercial Banks all over the world are portrayed as profit oriented and only work with customers they think have firm foundations to meet credit obligations. But the Standard Chartered Bank’s recently released independent study …
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Abuja, Nigeria | AFP | The Nigerian central bank’s Monetary Policy Committee will hold its first meeting this year on Wednesday after a political standoff between the executive and the senate prevented a quorum for months. Experts predict that the committee will hold rates at a record high of 14 …
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London, United Kingdom | AFP | There had never been much doubt that in London’s testosterone-fuelled financial sector female workers’ salaries lagged far behind those of their mostly male colleagues. Now this has been confirmed in black and white after the British government forced UK-based banks to publish their own so-called …
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The South African bank to open offices in London and New York to serve clients seeking to invest in Africa Kampala,Uganda | ISAAC KHISA | Barclays Africa Group Limited (BAGL)plans to return to is former name, Absa, across its operations on the African continent. The bank’s executives said the move …
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Hong Kong, China | AFP | Banking giant Standard Chartered on Tuesday announced a return of dividends for shareholders after a two-year hiatus as it reported a surge in annual profits following restructuring and cutbacks. The Asia-focused lender said it would pay out a full-year dividend of 11 cents per …
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Kampala, Uganda | THE INDEPENDENT | Ugandan Small and medium enterprises banking with the Togo-based Ecobank Transnational Incorporated (ETI), have a chance to borrow part of $200 million, FMO, the Dutch development bank, has made available for SME growth across the continent. Ecobank Group CEO, Ade Ayeyemi, said new transaction …
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Experts say financial institutions to prefer extending short term loans. New accounting standard will make loans, insurance more expensive Kampala, Uganda | ISSAC KHISA | Uganda’s banking and insurance industries are envisaging good times ahead as they embrace the new global accounting standards effective this year. The bad news is that borrowers …
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The new banking model is expected to deepen financial inclusion Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks have started rolling out agent banking following Kenya and Rwanda’s footsteps in an effort to grow deposits and customer base. This follows the coming into force of the Financial Institutions Act …
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London, United Kingdom | AFP | The British government announced plans Thursday to distribute £330 million ($447 million, 371 million euros) taken from dormant bank accounts to good causes, bringing the total handed out to almost £700 million. The Dormant Accounts Scheme was established in 2008, allowing the reallocation of money …
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COVER Saving Bank of Uganda: Why Kasekende, Bagyenda, Mutebile fight isn’t helpful THE LAST WORD Why our nations remain poor: African elites are victims of their own delusions about distorted history of developed countries. POLITICS Justice Kasule’s decent proposal on elections: Why not have regional Supreme Court to decide petitions? …
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The Independent Uganda: You get the Truth we Pay the Price