The COVID-19 pandemic created enormous headwinds for the economy as well as the financial services sector. It became clear that banks needed to respond comprehensively, and embrace change to meet the new challenges. Ugandan banks seem to have navigated the initial storm. However, the optimistic outlook should not deceive. The need for transformation is urgent

a.   Return on Savings negatively affecting payment for loans To mobilize funds, Banks encourage savings from the public by offering better returns in the form of interest. However, the higher the interest rates on savings, the higher the non-performing loans (NPLs). In banking, a non-performing loan is a loan (or another asset) that is in

Effective management entails properly finding and capitalizing on acceptable profit possibilities while also controlling risk. Compliance with rules and regulations is critical for all sorts of businesses. It is also vital to have a solid governance structure with an impartial board that precludes excessive remuneration or self-dealing. Internal controls, transparency in management communication, and the

The fourth Uganda Banking Sector Report 2021, summitBANKING21, gives a deep dive into the impact of the Coronavirus pandemic on Uganda’s banking sector. As a result of the pandemic, banks have made digital transformation core to their strategic imperatives as they seek to deliver customer convenience at the lowest cost in this era of banking

Analysis of Uganda’s economy and the banking industry shows that: Deposits growth is strategically critical for financial institutions success. The cheaper the deposits, the more the competitiveness of the bank. Banks that lend more, get more deposits in return. As a financial institution executive, streamline your lending processes value chain and convenience, to ease loan