5 years later, West African banks yet to cause the promised shakedown of Ugandan Banking industry

In 2008, when Ecobank  subsidiary of the Ecobank Group, UBA Uganda  part of the UBA group and Global Trust Bank,  three commercial banks owned by Nigeria’s insurance behemoth Industrial & General Insurance (IGI), made a triumphant entry into Uganda’s market, they were too high on expectations.

Probably too high on the balance sheet of their parent companies, the trio, especially Ecobank and UBA talked of “shaking down