2021 was yet another good year for Equity Bank in Uganda. All the key fundamentals posted strong double-digit growth. What are some of the key highlights in your performance that do stand out for the bank? 2021 was a tough year for the bank and the industry. Although the bank recorded double-digit growth rates across various parameters, it wasn’t an easy year, as the actual effects of COVID-19, fully manifested in 2021. But also, it was a year for us to test the vision and the purpose of the bank. As a bank, we adhered to our vision— championing the…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Years Active: November 2018 – to date Key Achievements: In the three years of Mugabi’s leadership, Housing Finance Bank has experienced double-digit and often above-industry growth rates cementing its place among Uganda’s 10 largest banks- by customer deposits, lending, total income, profitability, and balance sheet size. Some of the notable milestones, include, leading the bank from the 13th position to the 10th largest by deposits, an important facet on which all his other milestones sit. In 2020, he also led the bank to cross over into the Trillionaire’s Club, CEO East Africa Magazine’s unofficial official club of banks with over…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Innovation, largely driven by investments in financial technologies, coupled with prudent credit management, enabled Centenary Bank to fend off a tough 2021 to not only remain growing but reach record highs in its 39-year history While prolonged lockdowns significantly affected the education sector- one of the bank’s major sources of vital customer deposits, the bank, literally banked on its prior investments into a vast agency banking network as well as CenteMobile, its mobile banking platform, to keep deposits growing- albeit slower than usual. Moderate growth in deposits, from UGX 3.137 trillion in 2020 to UGX3.181 trillion in 2021 (a 1.4%…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn UGX269billion from Ush.242billion in 2020, driven by robust growth in non-interest income earned by mostly Stanbic Bank Uganda Limited, its anchor subsidiary. Other subsidiaries of SUHL include SBG Securities Uganda Limited, Stanbic Business Incubator, Stanbic Properties Limited, and FlyHub Uganda; however, these are new companies still in their formative stages to support the bank serve its customers beyond offering traditional financial services. Stanbic Bank is Uganda’s largest bank by assets, deposits, income, lending and the most profitable of the 25 active banks….
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has today released its H1 2021 results, reporting powerful performance across all business fundamentals, compared to the same period in 2020. According to results released, today, Friday, August 6, 2021, customer deposits increased to UGX5.7 trillion in June 2021 compared to UGX5.2 trillion in June 2020, indicating a 9.5% growth. Assets also grew by 9.8% driven by an increase in loans and advances amounting to UGX 3.8 trillion compared to UGX 3.4 trillion in June 2020. As a result, SUHL earned UGX154.9 billion in net profit representing an…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
2020 was an unprecedented year, for the industry, for Absa and yourself as a leader. It was a year of many firsts. But regardless, Absa emerged strong— stirred, but not shaken. What would you say were the key highlights? I think 2020 by all intents and purpose, was a challenging year. It was unprecedented in the sense that no one would have predicted the way it turned out to be. The health and economic impact of Covid-19, in Uganda and all over the world has been and continues to be unmatched. 2020 was filled with a lot of uncertainty….
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The following is a list of the banks ranked by total assets as of 31 December 2020. Balance sheet information is from financial statements published by the banks in March and April
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Covid-19 pandemic saw a rise in bad debts and provisions for loan losses. But this had little effect on balance sheets as banks turned from loans to other assets
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Standard Chartered Bank Uganda (SCBU), a subsidiary of the out-of-London global banking giant, Standard Chartered Plc, has bounced back into the industry’s top three largest banks, according to its just-released 2020 results. The results, published on April 30th 2021, show that SCBU regained its No.3 position in assets and deposits, which it lost to Absa Bank in 2019. It also maintained its third position on revenues. Assets grew by 21.5% from UGX3.2 trillion to UGX3.8 trillion, on account of a UGX 1.25 trillion lending book, increased cash and balances held with the central bank that grew from UGX347.2 billion…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. OBL is the 12th largest commercial bank licensed and established in Uganda. I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 percent shareholding of Orient Bank. The acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority. In a joint media statement, I&M Group said the acquisition…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
