By 1st May 2020, all Banks in Uganda published their annual reports in the media. Do you know what the numbers meant? Do you know how your bank fared? The summitBI® Banking Report 2020 digs beneath the numbers to help you understand the key sector drivers and how each bank performed. Since 2016, Summit Consulting Ltd publishes the summitBI® Banking Report, annually. The report provides an analysis of Uganda’s Banking sector for each year, as required by section 26 of the Financial institutions’ Act, 2016.

Banking sector performance is of great interest to the public, peer Banks, Bank executives, businesses, businesspeople as well as policymakers and regulators. Despite this importance, the publication of one page (often less) abridged format of generic financial reports in a newspaper that expire at the end of the day reveals only basic and unanalysed information, leaving out a lot of critical insights on how each bank (and the sector as a whole) is performing.

The summitBI® Banking Report 2020 aims to guide the public, banking industry players and regulators to understand the true performance of the industry to make the best decisions for the industry’s future. To compile this report, we analysed the state of Uganda’s economy- sector-wise and modelled economic projections. We have analysed the published annual reports of 26 Banks for the year 2019 to deliver the most comprehensive analysis of the financial sector.  We also undertake surveys through online questionnaires and seek clarification from respective bank staff who wish to comment on their published data. This report is based purely on publicly available information. 

The team behind the publication of this year’s summitBI® Banking Report 2020 includes Mustapha B. Mugisa (aka Mr. Strategy), Managing Editor, Pius Babyesiza (Mr. Change Agent), Editor, and Francis Xavier Mukembo (Mr. Big Data), Manager, Data Analytics and Business Intelligence, and over five associate consultants in our business intelligence and data analytics.

Our Business, Intelligence, and Data Analytics clients include governments, multinational companies, and private sector companies wanting to know specific insights from data collected on a day-to-day basis enterprise wide.  For custom analytics and real-time intelligence to see where to cut costs or put more effort into growing, contact us at www.summitcl.com/summitBI. Do you sometimes see growth in your portfolio and client base without a corresponding increase in reported profits? Can your current analytics precisely point to where revenue leakages are? You need advanced analytics and revenue assurance services to be in charge of your business rather than relying on ‘printed reports and screenshots,’ which may come after having been modified. In this competitive environment, data is the source of competitive advantage only for those able to see beyond the surface. 

To your business success.