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In a financial world increasingly shaped by agile Fintechs and digital-first lenders, dfcu is something of an old soul. At 60 years old, it carries the legacy—and the burden—of being one of Uganda’s most established financial institutions. But legacy alone doesn’t guarantee relevance. For years, dfcu wrestled with stagnating earnings, a flatlining share price, reputational bruises from Crane Bank acquisition, and skeptical investors. Yet 2024 marked a stunning reversal. Group profits surged by 151% to UGX72 billion. Non-performing loans halved and the share price, long stuck in neutral, appreciated by 12%—a quiet but significant signal to markets. “This underscores our…
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When dfcu Bank in January 2017, acquired Crane Bank, then one of the five largest Banks in Uganda, for UGX200 billion, it had been hoped that dfcu’s market share fortunes…
dfcu Bank has announced its role as an implementing partner for the Government of Uganda’s GROW Project, a new initiative dedicated to supporting women entrepreneurs in scaling their businesses, sustaining self-employment, and creating more jobs across the country. This launch further solidifies dfcu Bank’s longstanding commitment to empowering women entrepreneurs through innovative financial solutions, training, and mentorship programs. The GROW Project aims to address the financial and developmental needs of women entrepreneurs, providing them with essential resources to expand their operations and achieve long-term sustainability. As an implementing partner, dfcu Bank will facilitate the disbursement of funds and provide comprehensive…
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To better fulfil its corporate purpose of transforming lives and businesses, dfcu Bank has hired Margaret Karume as its Chief Credit Officer. Margaret is a seasoned banker with over 30 years of experience. She started her three-decade banking career at Barclays Bank Kenya (now Absa Bank). She later joined NIC Bank (now NCBA Bank Group). She is well known for her leadership skills in the banking industry in Kenya and more recently in the United Republic of Tanzania, where she led the first voluntary merger between two legacy Banks giving rise to NCBA Tanzania Limited. She served on the board…
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“I mean, for us (dfcu Bank), a top three position should really be where we should be going. We should be among the top three banks in the country. We should be able to move into the top three banks in the short run. That is our aspiration and we should be able to see ourselves being able to do that,” Charles Mudiwa, the Chief Executive Officer of Uganda’s dfcu Bank, told media at a working lunch organised by the bank on March 15th 2024 at Golden Tulip Hotel, Kampala. Mr. Mudiwa who assumed the leadership role of Uganda’s…
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