Although industry profitability grew to UGX906 billion, industry losses also increased from UGX39.4 billion to UGX57.5 billion as the number of loss-making banks increased from five to seven. Two banks- Commercial Bank of Africa (CBA) and Tropical Bank registered particularly big losses- UGX10.5 billion and UGX24 billion respectively. KCB Bank, Orient Bank, and ABC Capital slid from profit to losses. However, on a positive note, two banks- NC Bank and GT Bank outgrew their losses and became profitable.