Absa Bank Uganda has this morning released its 2022 financial results, reporting growth in deposits, lending, revenues as well as net profit and assets. The bank, a subsidiary of Absa Group, one of Africa’s largest financial services Groups announced that customer deposits in 2022, grew by UGX34.8 billion, from UGX2.42 trillion in 2021 to UGX2.46 trillion in 2022, a growth of 1.4%. Deposits’ growth was on the back of an “increase in the active customer base as a result of new-to-bank acquisitions and reactivation of inactive accounts”. “Additionally, there were increased customer engagements due to the capabilities built by the…
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