The Big Story

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.

by Muhereza Kyamutetera
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
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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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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.