Provisions for loan losses grew exponentially in the period ended December 2020, increasing by Shs149.1b, according to financial results released by different commercial banks. This was the highest growth in over years, signaling a difficult period for the banking sector and borrowers, whose capacity to repay loans was highly impacted by Covid-19. According to data […]
Provisions for loan losses grew exponentially in the period ended December 2020, increasing by Shs149.1b, according to financial results released by different commercial banks. This was the highest growth in over years, signaling a difficult period for the banking sector and borrowers, whose capacity to repay loans was highly impacted by Covid-19. According to data […]
Former Crane bank staff have sued dfcu bank At least 400 former employees of Crane bank Ltd have petitioned the High court in Kampala seeking orders to compel dfcu bank to produce documents that were allegedly withheld by the bank after their dismissal. The group was employed by Crane bank until October 2016 when Bank […]
Kampala, Uganda | ISAAC KHISA | 2020 was a tough year in almost all fronts: public health, production, new orders, employment, and demand, among others. The once growing economy contracted and interest rates took a deep dive as coronavirus cases surged. However, the dividends set to be paid to shareholders seem to be more than […]
Banking sector profitability declined by 4 per cent in the year ended December 2020, according to details from Bank of Uganda. In its Quarterly Financial Stability Review, Bank of Uganda indicated that banking sector profits for the year ended December 2020 had declined by Shs39.1b due to Covid-19 related disruptions, among which included a three […]
dfcu Bank Chief Executive Office – Mathias Katamba presenting the bank’s 2021 outlook. Dfcu Bank has on Wednesday released its financial performance report for the year 2020, indicating among others substantial growth in its assets and deposits. The asset base grew by 18% from Shs. 2,958 billion to Ushs 3,499 billion, upheld by strong growth […]
Listed companies including Umeme and dfcu Bank have cautioned shareholders and the public to exercise caution as they deal in the two companies’ stocks due to an expected drop in profits. In statements issued through the Uganda Securities Exchange, power distributor, Umeme said it expects its net profit to decline by more than 60 per […]
Listed companies including Umeme and dfcu Bank have cautioned shareholders and the public to exercise caution as they deal in the two companies’ stocks due to an expected drop in profits. In statements issued through the Uganda Securities Exchange, power distributor, Umeme said it expects its net profit to decline by more than 60 per […]
Fishing boats at Kaiso Tonya landing site in Buseruka. Commercially viable oil deposits were discovered in Lake Albert, 40km west of Hoima town in 2006. PHOTO | MORGAN MBABAZI | THE EASATFRICAN When Uganda created 10 new cities in July 2020, Hoima rose from a municipality to assume the moniker Oil City. This had been […]
The two projects include HPCL Rajasthan Refinery Petro FCC and dual feed cracker projects Larsen and Toubro (L&T) Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of infrastructure major L&T, has emerged as the lowest bidder for the HPCL Rajasthan Refinery’s (HRRL) two engineering, procurement, construction, and commissioning packages, namely Petro FCC and DFCU coming up at […]
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