Stanbic Bank Uganda has maintained a strong growth momentum in the first half of 2024 posting a profit of UGX 236 billion on its income statement. This represents a 17.6 percent growth compared to the UGX 200 billion earned in the first half of 2023. Stanbic’s stellar half-year performance was largely backed by the Group’s revenue which remained well diversified with non-interest revenue in fees, commissions and trading revenue contributing 43.2% to the total pool of revenue. This was further supported by drop in credit impairments driven by improved asset book and recoveries after write off. The bank also recorded growth…
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dfcu Bank is set to pay a final dividend of UGX 6.8 billion to its 3,851 shareholders by August 31st after the Board of Directors made a final approval at the Annual General Meeting held at Hotel Africana on Thursday this week. Speaking on behalf of the Board of Directors, Mr Jimmy Mugerwa, the Chairman Board said the bank upheld a strong tradition of shareholder returns, proposing a dividend of UGX 9.10 per share for 2023 which represents a 2.1 percent increase from the UGX 8.91 per share distributed in 2022, underscoring our unwavering commitment to enhancing shareholder value. Mr….
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The report notes that the “decrease in loan applications is an indication of the lingering effects of the global tight monetary policy implemented since June 2022 that has led elevated lending rates.”
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