Commercial banks gave out UGX1.8 trillion in form of loans and advances in 2020 following the Covid-19 induced lockdown, a report indicates. According to the 2020 Bank of Uganda (BOU) Annual Supervision report, gross loans and advances increased by 12.3 percent (UGX1.8 trillion) to UGX16.3 trillion, which was higher than 11.8 percent growth over the period ended December 2019. “This growth partly reflected a pickup in lending in the quarter ending December 31, 2020, and a significant component of capitalisation of interest on restructured loans, which, as a share of new net lending increased from 4.5 percent in the year…
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