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BANK OF UGANDA REPORT: Banks lent out UGX1.8 trillion in 2020 to stem lockdown effects
Shillings and foreign currency denominated loans increased by 19.9 percent and 12.3 percent in 2020. Courtesy photo
Commercial banks gave out UGX1.8 trillion in form of loans and advances in 2020 following the Covid-19 induced lockdown, a report indicates.
According to the 2020 Bank of Uganda (BOU) Annual Supervision report, gross loans and advances increased by 12.3 percent (UGX1.8 trillion) to UGX16.3 trillion, which was higher than 11.8 percent growth over the period ended December 2019.
“This growth
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