By Our Reporter
Stanbic Bank Uganda has recorded a 32.62 percent rise in profitability for financial year 2014. This translates to Ushs 135 billion superseding the company’s record 2012 performance of Ushs 130.73 billion.
Addressing the media in Kampala today, the bank’s new MD Patrick Mweheire said most of the bank’s income streams registered increments while costs were kept at minimal levels.
“Total income appreciated by 10.53 percent to Ushs 494.23 billion from Ushs 447.16 billion in 2013. Impairment charge for credit losses reduced to Ushs 37.38 billion from Ushs 44.93billion previously. The bank’s loan book posted a 14.37 percent growth to Ushs 1.62 billion,
