credit institutions Archives

Bank of Uganda Approves Finance Trust Bank’s Application to Downgrade to a Credit Institution

Paul MurungiBanking & Financial Services The Big StoryJanuary 29, 2026January 29, 2026

The Bank of Uganda (BoU) has approved the transition of Finance Trust Bank Limited from a Tier I commercial banking licence to a Tier II credit institution licence, marking the latest adjustment within Uganda’s regulated financial services sector. In a public notice issued on January 29, 2026, the central bank informed the general public that Finance Trust Bank has been authorised to change its licence status, with the new Tier II licence taking effect on April 1, 2026. BoU said the bank has been granted a three month transition period running from January 1 to March 31, 2026, during which…

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Ugandan Banks harvest UGX 1.4 trillion in net profits as assets grow to UGX 53 trillion- Bank of Uganda data

Paul MurungiThe Big StoryNovember 14, 2024November 14, 2024

Latest data from Bank of Uganda (BOU) shows Ugandan banks and other supervised financial institutions, remain profitable and adequately capitalised following a surge in net-after-tax profit to UGX 1.4 trillion registered for the Financial Year ending June 2024. The UGX 1.4 trillion is higher than the UGX 1.3 trillion registered in the year to June 2023, showing an increase by a billion shillings. The data is based on the BOU annual report published at the end of October. BOU noted that the net earnings in the review period were mainly driven by increased interest income and a reduction in provisions…

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