UGX 906 bn in profits; 2019 was a good year for Ugandan banks The Ugandan banking industry in 2019 was UGX80 billion short of hitting a historic UGX1 trillion in net profit- thanks to a healthy growth in the balance sheet- UGX32.9 trillion; itself powered by a record UGX 23.3 trillion in deposits and a UGX14.3 trillion loans portfolio.
LEFT-RIGHT: Top 5 bank CEOs- Anne Juuko, Stanbic Bank; Fabian Kasi, Centenary Bank; Mumba Kalifungwa, Absa Bank; Albert Saltson, Standard Chartered Bank and Matthias Katamba, dfcu Bank
Eighteen (18) profit-making commercial banks in Uganda, made a UGX906 billion (USD238.5 million) in profits in 2019. This was a 14% increase from UGX794.7 billion in 2018 profits. This was on account of healthy double-digit growth in both deposits and lending.
An analysis of 25 of Uganda’s 26 licensed banks (Cameroon’s Afriland First Bank is yet to formally open shop), shows that the banki
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