NCBA Bank Uganda posted an 18.4% growth in net profit for the 12 months ended December 2023⏤ a UGX4.3 billion growth from the UGX22.8 billion it posted in 2022, to UGX27 billion in 2023. This is the second successive net profit by the bank since Mark Muyobo assumed its leadership, ending two years of successive post-merger losses. The 2023 growth in net profit was fuelled by a 15.4% growth in customer deposits- from UGX491.3 billion in 2022 to UGX567.1 billion in 2023. The bank also jerked up its lending by 20.1%, from UGX210.6 billion to UGX253 billion. With increased lending,…
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