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The growth is attributed to the increase in the Government of Uganda capital contribution as well as draw down of lines of credit making the bank one of the heavy weights in the 2nd Tier commercial banks. The bank’s financial performance, as showed in its financial statement, improved significantly; profit after tax improved by 7% from UGX 9.49 billion in 2018 to UGX 10.14 billion in 2019 while the balance sheet grew by 31% to yield at UGX 486.37 billion. This tremendous performance, according to managing director Patricia a. Ojangole, was triggered by a 74% increase in Government of Uganda…
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How was 2019 for dfcu Bank? In 2019, we steered the organisation through another year of success and growth; the operating environment was generally positive with a few challenges along the way, dfcu continued to demonstrate resilience and market leadership in the various segments that we serve. We delivered robust growth in the business and witnessed increased uptake of the Bank’s products and services year on year. Our stakeholder engagement across the multiple value chains of business and community also increased as we made a meaningful contribution towards the social-economic transformation of households and communities where we serve. Based on…
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Most borrowers tend to hide away from their banks at the very first sign of trouble. And as COVID-19 related business complications begin to make landfall for many businesses in Uganda in form of canceled bookings and orders, delayed deliveries, delayed payments, low demand etc., cash, the life-blood of every business will or has already started to dry up. If you have an existing credit facility with your bankers, there is an increasing likelihood that you will begin to default and the banks will start calling. If you do not have any existing facility chances are very high that you…
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Please mention a few key highlights for Stanbic Bank in 2019? We delivered another great performance and were able to improve on all our key performance goals. We grew our deposits by 21% as more customers trusted us with their money and our loans & advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing, agriculture and personal lending – where we provided more than 40% of new lending. Our revenues grew 20% year-on-year to exceed UGX 800 billion and were well-diversified between lending and non-lending revenue. As…
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Shareholders of Stanbic Uganda Holdings Limited will walk away 13.2% richer than last year, following the board’s recommendation of UGX2.15 per share dividend for 2019, up from the UGX1.9 paid for 2018. This follows what Patrick Mweheire, the Chief Executive of Stanbic Uganda Holdings Limited, called “another great performance” that saw the bank “improve on all our key performance goals.” “We grew our deposits by 21% as more customers trusted us with their money and our loans and advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing,…
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