Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has launched a service that allows new customers to open personal accounts online. The digitized process, which is accessible off the Stanbic Bank website www.stanbicbank.co.ug, means that customers can now open accounts on the go, anywhere, in any country and anytime. …
Read More »Stanbic suspends trading on Uganda securities exchange
Kampala, Uganda | Julius Businge | Stanbic Bank Holdings Limited has suspended trading on the Kampala based Uganda Securities Exchange until further notice. In a notice signed by Paul Bwiso, the USE chief executive officer, circulated on April 01, said that the institution is undergoing reorganization through the formation of a …
Read More »How Crane Bank acquisition boosts Dfcu profits
The banking industry projects to record drop in net profits Kampala, Uganda | ISAAC KHISA and JULIUS BUSINGE | Dfcu’s net profit has more than quadrupled to Shs114.05bn during the six months ending June 30 compared to Shs23.3bn recorded last year following acquisition of part of Crane Bank assets in …
Read More »Uganda’s private sector activity improves on strong demand
Uganda’s private sector activity improves on strong demand, but experts are worried that improvement in economic activities is likely to stir imports, putting pressure on the exchange rate and so is operational costs Kampala, Uganda | JULIUS BUSINGE | Stanbic Bank’s latest report– Purchase Managers Index (PMI) for June 2017 …
Read More »Banks fight over Chinese businesses
Stanbic Bank again makes Chinese businesses irresistible offers Uganda imported US$700 million worth of goods from China last year and exported goods valued at US$30 million over the same period, according to the latest government data. But the skewed trade figures between Uganda and the world’s second largest economy do …
Read More »USE: Promising market for long term investors
Analysts predict a rebound in the market activities this year and so is the surge in prices Trading activities on the Uganda Securities Exchange showed a high decrease in market turnover on Jan.06, registering a 97.2% decline to Shs51million compared with the previous day. The All Share Index modestly increased …
Read More »Banks optimistic of a better year
BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …
Read More »2016: Bankers divided on impact of miserable year
Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …
Read More »BUSINESS BRIEFS: NSSF increases stake in Umeme, MTN cuts rates
The National Social Security Fund has bought more shares in power distributor Umeme, increasing its stake from 14% to 23 %. NSSF boss Richard Byarugaba said Fund’s decision was in line with “our statutory mandate to invest NSSF members savings for high returns.” He said the Fund has reached an …
Read More »Stanbic Bank bond gets low subscription amid tight liquidity
By Joseph Were Stanbic Bank Uganda is learning the hard way that this is not a good time to attempt to raise funds on the equity market thanks to lingering after shocks of the global financial crisis. Its 7-year Shs 30 billion bond that was privately placed among institutions and …
Read More »