Bank financial results reporting season starting soon.
Uganda& #39;s largest bank by assets, @stanbicug is the first to release financial results for 2020. According to the CEO, Anne Juuko, 2020 "was a year riddled with challenges brought on by the pandemic...but the bank has shown resilience."
Profit-After-Taxhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">6% to UGX243bn ( @stanbicug after tax profit had been on a consistent upward growth trajectory since 2016).

Reduced profitability was due to a 12.7% rise in expenses to UGX556bn. Largest contributor to rising expenses was provisions for bad debts (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">110%)
Profit-After-Taxhttps://abs.twimg.com/emoji/v2/... draggable=6% to UGX243bn ( @stanbicug after tax profit had been on a consistent upward growth trajectory since 2016). Reduced profitability was due to a 12.7% rise in expenses to UGX556bn. Largest contributor to rising expenses was provisions for bad debts (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">110%)" title="Profit-After-Taxhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">6% to UGX243bn ( @stanbicug after tax profit had been on a consistent upward growth trajectory since 2016). Reduced profitability was due to a 12.7% rise in expenses to UGX556bn. Largest contributor to rising expenses was provisions for bad debts (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">110%)" class="img-responsive" style="max-width:100%;"/>
Provisions were expected to rise due to the difficult operating environment borrowers faced in 2020. This is also noticeable in the Non-Performing Loans (NPLs)
NPLs https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 19.4% to UGX219bn BUT represent 6% of the @stanbicug total loans, compared to 6.4% in 2019.
Additionally @stanbicug debt write-off rose by 202% to UGX48bn.

Despite the rise in provisions and write-off, the bank is still well capitalized. Core capital position by 18% to UGX918bn.

Due to the reduced profitability, income tax paid reduced by 13.8% to UGX77.5bn
How did @stanbicug make money?
Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">26.8% to UGX3.6trillion leading to interest income on loans tohttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">by 5.6% to UGX421.4bn

62.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in govt securities to UGX2.2trillion leading interest income https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> by 15.4% to UGX266bn.

However, non-interest related income declined.
How did  @stanbicug make money? Loanshttps://abs.twimg.com/emoji/v2/... draggable=26.8% to UGX3.6trillion leading to interest income on loans tohttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">by 5.6% to UGX421.4bn62.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in govt securities to UGX2.2trillion leading interest income https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> by 15.4% to UGX266bn. However, non-interest related income declined." title="How did @stanbicug make money? Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">26.8% to UGX3.6trillion leading to interest income on loans tohttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">by 5.6% to UGX421.4bn62.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in govt securities to UGX2.2trillion leading interest income https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> by 15.4% to UGX266bn. However, non-interest related income declined." class="img-responsive" style="max-width:100%;"/>
The growth in @stanbicug& #39;s interest income led to overall income growth of 8.6% to UGX876.8bn. Due to a 13.7% rise in total expenses to UGX556bn, this led to a drop in net income and gross profit.
Other positives for bank include the 30% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> in total assets to UGX8.5trillion (meaning @stanbicug will retain the #1 spot) & 16.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in customer deposits to UGX5.5trillion. (Interest spent on depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">18% to UGX30.3bn)

Shareholders will receive a divided of UGX1.95 per share.
Other positives for bank include the 30% https://abs.twimg.com/emoji/v2/... draggable= in total assets to UGX8.5trillion (meaning @stanbicug will retain the #1 spot) & 16.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in customer deposits to UGX5.5trillion. (Interest spent on depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">18% to UGX30.3bn)Shareholders will receive a divided of UGX1.95 per share." title="Other positives for bank include the 30% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> in total assets to UGX8.5trillion (meaning @stanbicug will retain the #1 spot) & 16.3%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in customer deposits to UGX5.5trillion. (Interest spent on depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">18% to UGX30.3bn)Shareholders will receive a divided of UGX1.95 per share." class="img-responsive" style="max-width:100%;"/>
Next is @dfcugroup, the 5th largest bank by assets. The board, in a note to the published results said even though they had to make provisions on bad debts (due to the impact of Covid19 on businesses/people), which affected profitability, there were some positives for the bank.
Let& #39;s start with what people like to see. After-tax-profit for @dfcugrouphttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">67.5% to UGX24.3bn. As highlighted in the profit warning issued by the bank a few weeks ago, profitability was expected to reduce due to https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> provisions on bad debts + assets from the Crane Bank acquisition.
Let& #39;s start with what people like to see. After-tax-profit for  @dfcugrouphttps://abs.twimg.com/emoji/v2/... draggable=67.5% to UGX24.3bn. As highlighted in the profit warning issued by the bank a few weeks ago, profitability was expected to reduce due to https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> provisions on bad debts + assets from the Crane Bank acquisition." title="Let& #39;s start with what people like to see. After-tax-profit for @dfcugrouphttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">67.5% to UGX24.3bn. As highlighted in the profit warning issued by the bank a few weeks ago, profitability was expected to reduce due to https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> provisions on bad debts + assets from the Crane Bank acquisition." class="img-responsive" style="max-width:100%;"/>
So, where did the money @dfcugroup make come from?
The bank total incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">by just 0.35% to UGX415.2bn.
Whereas interest income on loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">4.4% to UGX256bn (due to 15%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in lending to UGX1.7trillion), other earnings like interest on govt securities + non-interest income dropped.
So, where did the money  @dfcugroup make come from? The bank total incomehttps://abs.twimg.com/emoji/v2/... draggable=by just 0.35% to UGX415.2bn. Whereas interest income on loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">4.4% to UGX256bn (due to 15%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in lending to UGX1.7trillion), other earnings like interest on govt securities + non-interest income dropped." title="So, where did the money @dfcugroup make come from? The bank total incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">by just 0.35% to UGX415.2bn. Whereas interest income on loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">4.4% to UGX256bn (due to 15%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">in lending to UGX1.7trillion), other earnings like interest on govt securities + non-interest income dropped." class="img-responsive" style="max-width:100%;"/>
The drop in interest on govt securities came about despite the 13%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">to UGX573bn in govt and other securities.

The non-interest income for @dfcugroup dropped to UGX68.8bn in 2020 from UGX190bn in 2019. This due to a reduction in fees and commissions income.
Noticeable from the @dfcugroup results is that the marginal less than 1% growth in total income was gobbled up by 21% growth in expenses to UGX382bn.

Importantly the bank remains profitable with core capital slightly by 2.2% to UGX482bn
The core operations of @dfcugroup (lending and taking deposits) remained positive.

Assetshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">19% to UGX3.5trillion
Customer depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">27% to UGX2.6trillion
For the govt, drop in profitability led to 69%https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">to UGX8.2bn in income tax from the bank.
The core operations of  @dfcugroup (lending and taking deposits) remained positive. Assetshttps://abs.twimg.com/emoji/v2/... draggable=19% to UGX3.5trillionCustomer depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">27% to UGX2.6trillionFor the govt, drop in profitability led to 69%https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">to UGX8.2bn in income tax from the bank." title="The core operations of @dfcugroup (lending and taking deposits) remained positive. Assetshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">19% to UGX3.5trillionCustomer depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">27% to UGX2.6trillionFor the govt, drop in profitability led to 69%https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔽" title="Nach unten zeigendes Dreieck" aria-label="Emoji: Nach unten zeigendes Dreieck">to UGX8.2bn in income tax from the bank." class="img-responsive" style="max-width:100%;"/>
For the @dfcugroup shareholders, the hope was for better results on the profitability front. The faster dfcu consolidates & sheds off the effects of acquiring Crane Bank, the better the fortunes.

The shareholders will get a dividend of UGX132.17 per share
Today, @kcbbankug released its 2020 financial results. The bank recovered from a UGX13.5bn loss in 2019 to post an after tax profit of UGX13bn in 2020. The KCB profit was driven by a 29.4% reduction in expenses.
Below are some select highlights from @kcbbankug& #39;s results.
Net profithttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">197% (from a loss) to UGX13bn
Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">9% to UGX253.3bn
Govt Securitieshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 30% to UGX127.7bn
Depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 32.7% to UGX445.5bn
Total Incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten">3.7% to UGX78.6bn
Total Expenseshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 29.4% to UGX59.6bn
Below are some select highlights from  @kcbbankug& #39;s results. Net profithttps://abs.twimg.com/emoji/v2/... draggable=197% (from a loss) to UGX13bn Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">9% to UGX253.3bnGovt Securitieshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 30% to UGX127.7bn Depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 32.7% to UGX445.5bn Total Incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten">3.7% to UGX78.6bnTotal Expenseshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 29.4% to UGX59.6bn" title="Below are some select highlights from @kcbbankug& #39;s results. Net profithttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">197% (from a loss) to UGX13bn Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">9% to UGX253.3bnGovt Securitieshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 30% to UGX127.7bn Depositshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 32.7% to UGX445.5bn Total Incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten">3.7% to UGX78.6bnTotal Expenseshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 29.4% to UGX59.6bn" class="img-responsive" style="max-width:100%;"/>
How @kcbbankug made money in 2020? Although total income was down in 2020, most income came from interest earnings on loans (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 2.2%), interest on govt securities (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten">14.7%) and non-interest income - fees and commissions - (https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">24.7%).
However, @kcbbankug 29.4% reduction in expenses offset the 3.7% reduction in income leading to operating profitability of UGX19bn.
All expenses in the bank reduced in 2020. Importantly was that in 2020, KCB did not have an net impairment charge on its income.
@kcbbankug& #39;s Non-performing Loans (NPLs)https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">4% to UGX23bn (about 9% of the total loan book - 9.5% in 2019). Bad debts written offhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">34.2% to UGX4.7bn. The core capital position of the bank 25%https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">to UGX67bn.

The bank paid 30% (UGX5.9bn) of the operating profit income taxes.
Shortly, I& #39;ll provide some highlights on the impressive @UgEquityBank 2020 financial results.
The @UgEquityBank 2020 results released on April 19, show a continued trend of improved growth for a bank that started operations in 2008 when it acquired Uganda Microfinance Limited. Equity has consolidated & is perhaps one of the fastest growing/improved banks.
In 2020, @UgEquityBank& #39;s after-tax profit grew by 53.2% to UGX57bn, indicating an impressive performance by the bank.
How did @UgEquityBank improve its profitability?
Loanshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">25% to UGX1.26trillion which led to interest earned on lending tohttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">34% to UGX200bn.
Interest earned on govt securitieshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">68% to UGX28.5bn
Non-interest incomehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">10% to UGX59bn.
The rise in @UgEquityBank& #39;s expenses was due to:
71.3% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX24bn in provisions/impairment for bad debts
31% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX37.8bn in interest expenses on deposits
27% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX132.8bn in operational expenses
52% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX7bn in management fees
The rise in  @UgEquityBank& #39;s expenses was due to: 71.3% https://abs.twimg.com/emoji/v2/... draggable= to UGX24bn in provisions/impairment for bad debts31% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX37.8bn in interest expenses on deposits27% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX132.8bn in operational expenses 52% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX7bn in management fees" title="The rise in @UgEquityBank& #39;s expenses was due to: 71.3% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX24bn in provisions/impairment for bad debts31% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX37.8bn in interest expenses on deposits27% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX132.8bn in operational expenses 52% https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> to UGX7bn in management fees" class="img-responsive" style="max-width:100%;"/>
The faster growth in income offset any pressure on expenses for @UgEquityBank, leading profit before tax tohttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 47% to UGX80.5bn.

The @URAuganda collected UGX26.2bn (30.6% growth from 2019) of this amount, representing 28% effective income tax.
Of @UgEquityBank& #39;s UGX1.26trillion loan book, 3.9% (UGX49.2bn) were Non-performing loans(NPLs). This is a rise from 2019, where 1.4% of total loans were classified as NPLs. Still, the 2020 NPL rate for Equity is below the banking sector average in Uganda, just like in 2019.
Due to the growth in lending to the private sector (24.8% rise to UGX1.26trillion) + lending to the govt (63.8% rise to UGX317.8), it was yet another milestone for @UgEquityBank as it crossed the UGX2trillion mark in terms of assets.
Assets rose by 27% to UGX2.06trillion.
Customer deposits https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 30.2% to UGX1.62trillion (people decided to keep their money in the banks, it appears).

Bad debts written off https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 71.4% to UGX4.4bn

Core capitalhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">46% to UGX296.6bn.

Overall, a good year for @UgEquityBank
Customer deposits https://abs.twimg.com/emoji/v2/... draggable= 30.2% to UGX1.62trillion (people decided to keep their money in the banks, it appears). Bad debts written off https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 71.4% to UGX4.4bn Core capitalhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">46% to UGX296.6bn. Overall, a good year for @UgEquityBank" title="Customer deposits https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben"> 30.2% to UGX1.62trillion (people decided to keep their money in the banks, it appears). Bad debts written off https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Pfeil nach unten" aria-label="Emoji: Pfeil nach unten"> 71.4% to UGX4.4bn Core capitalhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Pfeil nach oben" aria-label="Emoji: Pfeil nach oben">46% to UGX296.6bn. Overall, a good year for @UgEquityBank" class="img-responsive" style="max-width:100%;"/>
Shortly, @AbsaUganda will be releasing its financial results for 2020. I& #39;ll tweet the highlights from the financial results and remarks from the #AbsaResults2020 event.
"Uganda and @AbsaUganda felt the impact of the pandemic in 2020. As the board, we are proud of the response by the Absa team during pandemic (operations, staff & customers)." Nadine Byaruhanga Board Chairperson Absa Uganda #AbsaResults2020
You can follow @mumakeith.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: