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By Michael Jjingo The young people have always been unique, from the days of bell bottom, to balanced jeans and later damaged trousers! For young people, gone are the days for standing in the line as you wait to be served at the bank. Present day Banking is actually not boring or even time consuming, thus should appeal to the young and old, given the multiple digital channels that are not limited to the Apps, mobile banking, online banking among others. Financial institutions may be forgiven if a little unclear on what to do with young people given the seemingly…
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PostBank Uganda’s bid to become a tier-one bank got another boost, following an above-industry 2020 growth. Results published last week show, PostBank, the 100% government-owned financial institution, crossed the UGX500 billion assets rubicon, reaching UGX675 billion— a 38% increase, from the UGX490.6 billion registered in 2019. At UGX675 billion, PostBank, although a tier-two institution is already larger than nearly half of all tier-one commercial banks in the country. This unprecedented growth, in what has been the toughest year in Uganda’s recent banking history, was majorly driven by a 25% increase in lending- from UGX 267.1 billion to UGX335 billion-…
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What is the current state of business at Post Bank? Postbank Uganda (PBU) is a socially-oriented bank fully owned by the Government of Uganda. PBU was incorporated under the companies ACT in 1998. The Bank’s mission is to offer affordable financial services that drive financial inclusion for social-economic development. The bank has a network of 43 branches (an additional 4 ready branches that are awaiting approval by BOU will take the number to 47) and 14 mobile banking vans (Bank On Wheels). As part of its efforts towards financial inclusion, PBU has a focus on Agriculture and Micro, Small and…
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Letshego Uganda Limited has dismissed accusations of cheating teachers and policemen in Loans Scam On Thursday, May 21, 2020, a local newspaper published a story, quoting police sources that up to 5000 teachers and policemen had been cheated in a loans scam orchestrated by yet to be named Ministry of Public Service officials in collusion with the lender’s staff. According to the story and police sources, money would be fraudulently credited to accounts of public servants’ accounts, even when they had not applied for loans in the first place. The said erroneous recipients would then be followed up by certain…
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