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KCB Bank Uganda, a subsidiary of KCB Group, one of East Africa’s largest financial groups, reported that its net profit for 2022, grew by an impressive 344.6% from UGX7.4 billion in 2021 to UGX32.9 billion⏤the highest ever in the bank’s 15-year history in Uganda. This was driven by a 30.5% rise in income, from UGX90.9 billion to UGX118.6 billion, largely on account of a 60.7% growth in interest income on loans and advances from UGX44.2 billion to UGX81 billion. Income from lending formed 60% of the bank’s total income in 2022. KCB in 2022 pumped up its credit supply by…
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Diamond Trust Bank Uganda, the Ugandan subsidiary of the Kenya-headquartered Diamond Trust Bank Group has released its 2022 financials reporting double-digit growth in deposits, lending, income, profits and assets. According to results made public last, DTB Uganda reported a 25% growth in deposits from UGX1.5 trillion in 2021 to UGX1.88 trillion⏤ an increase of UGX375.6 billion. The bank also reported that it extended 15.8% more credit than it did in 2021, extending some UGX791.3 billion in loans, to retail, SME and corporate clients, up from UGX 683.4 billion in 2021. Growth in lending fuelled a 14.9% growth in income from…
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Housing Finance Bank, the government of Uganda and NSSF-owned lender is now Uganda’s 5th most profitable bank, jumping three positions from the 8th in 2021. In 2022 results released last week, the bank reported that net profit grew by a record 42.7% growth from UGX41 billion to UGX58.5 billion. The bank increased its share of industry profits from 3.2% to 4.5%. In total 23 of 25 banks reported profits in 2022- a combined UGX1.29 trillion, up from 1.08 trillion in 2021. The top 4 profitable banks are Stanbic (UGX366 billion), Centenary Bank 9UGX249.6 billion), Absa Bank Uganda (UGX141.2 billion) and…
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For many of us, 2022 seemed like the year we had been hoping for. We were going to put the pandemic behind us and find some sort of return to normalcy. Unfortunately, if the past two to three years have taught us anything, it is that we must be highly adaptable to volatility and uncertainty. According to data from the Ministry of Finance, the Ugandan economy grew by 4.7% in 2022, while both the Purchase Managers Index (PMI) and Business Tendency Index remained above the 50-mark threshold signalling optimism and improvement in economic conditions. On the supply side, services and…
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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
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The Pareto principle (also known as the 80/20 rule, the law of the vital few), according to Wikipedia, states that, for many events, roughly 80% of the effects come from 20% of the causes. It has since become an axiom of business management that “80% of sales come from 20% of clients”. RELATED: https://www.ceo.co.ug/2018-ugandas-19-banks-rake-in-ugx790bn-profit-5-banks-still-loss-making/ Mathematically, it is generally believed that…
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