Ecobank Uganda’s assets hit a record UGX671.1 billion; ready to mingle with the big banks

Ecobank Uganda, this week released their 2019 results, reporting a 60 per cent increment in the bank’s assets from UGX420 billion in 2018 to UGX671.3 billion at the end of 2019. Assets grew by UGX 251.3 billion, crossing the UGX500 billion asset mark, stamping a place amongst Uganda’s tier 2 commercial banks- a good way to mark its 11th anniversary since its launch in January 2009. This impressive performance was on the back of a 90.8 per cent growth in customer deposits, from UGX288.3 billion in 2018 to UGX550 billion in 2019. The growth in deposits powered a 22.9 per…