Tag Archives: profits

Airtel Money remains a cornerstone of the Group’s profitability strategy, facilitating financial inclusion through reliable and accessible digital transactions Kampala, Uganda | THE INDEPENDENT | Airtel Africa, a leading telecommunications provider and Airtel Money services operator across 14 African countries, has announced substantial growth in profitability, attributed to its refined strategy …

Kampala, Uganda | THE INDEPENDENT | Bank of Baroda has posted a 12.3% decline in net profit for the six months ending June 30, 2024, with profits falling to Shs 59.8 billion. This drop in profitability comes despite an increase in revenues, which was offset by a sharp rise in interest …

Kampala, Uganda | THE INDEPENDENT | For the first time since 2013, KQ has reported a profit before tax. This achievement marks a major turnaround for the airline, in line with the strategic recovery plan launched in 2021, executives said on Aug.19 in a notice. In the six months to 30 …

Six banks adjust growth strategies, as Equity Bank dips into a loss territory Kampala, Uganda | JULIUS BUSINGE | Uganda’s biggest banks recorded bumper profits in 2023 amidst industry turmoil that forced smaller banks to either divest their shares or voluntarily downgrade to credit institutions in response to the regulator’s revised …

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, …

Nevertheless, the company has declared a 22.4% increase in its dividend payout, translating to Sh 78.2 per ordinary share as concession draws closer Kampala, Uganda | THE INDEPENDENT | Uganda’s electricity distribution company, Umeme, has reported a significant decrease in its net profit, plummeting from Shs 148 billion in 2022 to …

But loans and advances to customers reduced by 16% Kampala, Uganda | THE INDEPENDENT | dfcu Bank has reported a 56% improvement in net profit to Shs29.3bn in the first six months to June.30 driven by a reduction in loan impairment. The lender’s financial results released on Aug.24 show continuous growth …

Banking entities posted impressive growth in profit after tax during the year owing to the opening up of the economy and the subsequent growth in the private sector credit Kampala, Uganda | ISAAC KHISA | More than half of companies listed on the Uganda Securities Exchange recorded growth in profits in …

Players warn that the move could discourage the growing savings culture Kampala, Uganda | JULIUS BUSINGE | Over the past few years, Uganda started experiencing a surge in the local population, especially youth interested in saving, growing their capital for future investments through the Unit Trust Funds. This is because Unit …

However, SBG Securities Ltd.’s revenues were impacted largely by a drop in capital markets activities Kampala, Uganda | THE INDEPENDENT | Stanbic shareholders will get Shs 6.98 per share totalling Shs 235bn following a 33% growth in profits for the year ended December 31, 2022. This is 1.7% higher than the …