Centenary Bank’s profits after tax grew by 31.2% to sh211b from sh161b posted in 2020, supported by growth in interest income from lending and investment in government securities.
Read MoreCentenary Bank Posts 31% Growth In Profits
Tag: Centenary Bank
Centenary Group’s subsidiary Cente Tech Appoints Steven Kirenga Head Of Product & Business Development
Centenary Group’s subsidiary Cente Tech has appointed Steven Kirenga as Head of Product and Business Development and Customer Experience.
Read MoreBanks Adjust Working Hours After Ease of Lockdown
Following the government’s ease of the 42-day lockdown, the Banking industry among others has adjusted its working hours.
Read MoreBanks Lower Interest Rates After Central Bank Rate Cut
BY BANKERS REPORTER Commercial Banks have reduced their prime lending interest rates on shilling denominated loans following the recent downward revision of the central bank rate to 6.5% from 7%. A prime lending rate is the interest rate that banks offer their most creditworthy customers. The central bank rate is the rate at which financial institutions borrow money from the Bank of Uganda. “We hereby inform you (customers) that our Prime Lending Rate will reduce from 20% to 19.5% effective August 10, 2021. This change will affect both old and…
Read MoreCentenary Bank Net Profits Hits sh161.2 Billion
Centenary Bank has recorded a 3.4% growth in net profits to sh161.2 billion in 2020 despite the deadly coronavirus disruption on businesses.
Read MoreJoseph Balikuddembe To Centenary Bank As New Executive Director
Mr. Joseph Kiwanuka Balikuddembe will be returning to Centenary Bank as the new executive director, this website has learned.
Read MoreAbsa Bank Emerges Best Dealer in securities
Also part of the reforms, which came into effect on 1 October 2020 is the automation of the auction processes to enhance efficiency and price transparency, which has increased the global visibility of Uganda’s financial markets.
Read MoreCentenary Bank rolls out New Bank Card
According to the 2020 Quarterly Financial Stability Review by the Bank of Uganda, the value of payments made using debit cards increased from sh670.3 billion in 2019 to approximately sh3.2 trillion in 2020, with the exponential growth partly attributed to actions taken by players in the financial to ease online payments of goods and services
Read MoreMobile Money Number: Why Banks Are asking for it
However, this development has left many bank clients wondering what the motive could be. In some press notices, the banks have not provided much detail on why they need this information as soon as possible. Some have even wondered what could happen to their bank accounts in the event that they don’t provide the details.
Read MoreCFO Awards 2020 Edition: Who will Bag the Next Award?
Organizers have also introduced a new category in the Awards dubbed; the social impact award. This is meant to recognize companies or individuals that have played major roles in impacting lives in the face of the deadly COVID-19 pandemic.
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