Samuel Sanya, The New Vision of 26th August 2020, page 28 published an article titled “Bank transactions hit sh20 trillion” as a result of the recently released summitBI Banking Sector Report, 2020. Transactions in Uganda’s banking sector grew to a robust sh20 trillion from sh18 trillion the year before, helped by growth in agent banking,
The Daily Monitor, of 24th August 2020, published an article titled “Shs528b in banking exposed to profit repatriation” as a result of the recently released summitBI Banking Sector Report, 2020. The article notes thus: Uganda has 26 licensed commercial with most of them domiciled in countries overseas, which exposes the sector to massive capital flights.
High volumes of mobile money transactions, the report notes, have discouraged customers from the deposit with banks due to convenience Despite partnering with telecoms, banks continue to fill the impact of mobile money as it eats into their asset quality and profits. Mobile money at its inception disrupted financial sector, and bank despite the hesitation,
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