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KCB Bank Uganda, a subsidiary of KCB Group, one of East Africa’s largest financial groups, reported that its net profit for 2022, grew by an impressive 344.6% from UGX7.4 billion in 2021 to UGX32.9 billion⏤the highest ever in the bank’s 15-year history in Uganda. This was driven by a 30.5% rise in income, from UGX90.9 billion to UGX118.6 billion, largely on account of a 60.7% growth in interest income on loans and advances from UGX44.2 billion to UGX81 billion. Income from lending formed 60% of the bank’s total income in 2022. KCB in 2022 pumped up its credit supply by…
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KCB Bank on 14th October, marked its 15th anniversary since it set foot in Uganda in 2007, with a firm promise to close the year with at least a UGX1 trillion balance sheet. Speaking at the anniversary celebrations, held at Kampala Serena Hotel, KCB Bank Uganda Managing Director, Edgar Byamah, revealed the bank was just about UGX38 billion shy of the UGX1 trillion (USD261 million) rubicon. “At present, our bank boasts of an asset base of over UGX961.43 billion and over 40,000 customers, which success is greatly attributed to a committed team that has keenly served the bank over…
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CPA Constant Othieno Mayende is the new Institute of Certified Public Accountants of Uganda (ICPAU) president. Mayende was elected during the Council of the ICPAU’s 26th Annual general meeting together with CPA Josephine Ossiya as Vice President. The election comes after the High Court ruling delivered by Justice Musa Sekaana on 23 July 2021. The Court determined that the Elections Committee had successfully concluded the elections and declared members that were to constitute the new Council, in accordance with the provisions of the Accountants Act, 2013, and therefore the new Council is lawfully sanctioned to transact the business of ICPAU. CPA…
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Constant Othieno Mayende has been appointed as Chairman Board of Directors, KCB Bank Uganda Limited. He replaces Aga Sekalala Jr, whose term recently came to an end. Constant has over 23 years’ experience in banking, strategy formulation, business development, financial management, audit, and quality assurance having held senior positions in a number of reputable private and public sector organizations in Uganda and Rwanda. He is a Council Member of the Institute of Certified Public Accountants of Uganda (ICPAU) and also serves on governing boards of several organizations in Uganda. Constant is a Rotarian and currently serves as the President Elect-Secretary…
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During its 26th Annual General Meeting held virtually, on 30 July 2020, the Institute of Certified Public Accountants of Uganda (ICPAU) announced seven leaders (Council Members) that will serve for the period 2020-2022. The seven are; CPA Josephine Okui Okwakol Ossiya – Practitioner at Rona & Partners, Certified Public Accountants and Chief Finance Officer at Bujagali Energy Ltd, CPA Gloria Tuhaise Wakooba – Deputy Director, Procurement and Disposal Department at Bank of Uganda, CPA Prof. Laura Orobia – Associate Professor heading the Department of Accounting & Finance (Academics) at Makerere University Business School (MUBS), CPA Geoffrey Byamugisha – Practitioner at…
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