Find visitors' favorite businesstravel Hotels And.... Book your best!

ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export  

Uganda Commercial banks readjusting as BOU tightens monetary policy

Monday August 15, 2011

Uganda Commercial banks are readjusting to remain relevant to customers with lending rates rising and the likelihood of loan defaults increasing.

Herbert Zake, the head of corporate affairs at the Standard Chartered Bank, was optimistic that while there may be a reduction in borrowing in the foreseeable future because of Bank of Uganda?s tight monetary policy stance, banks have to find ways of remaining relevant. He said while it is still early, the bank anticipates that by the turn of the year, the squeeze will start to bite.

He said to maintain their connection with the borrowers, banks have to focus on the most lucrative market segments.

?We need to remain close to the customers. This is not the time to run away from them. Where necessary, we will make adjustments to meet their needs,? said Zake. To maintain customer loyalty, the bank has launched Yoola Omudidi campaign in which three Double Cabin Hilux trucks will be given out in three months.

Arthur Kiwanuka, the head of deposit-taking, said the promotion where customers maintain deposits of sh500,000 is also one way of encouraging savings. ?People have participated, but they have ended up leaving their money with us,? said Kiwanuka.

Philip Odera, the Stanbic Bank chief, said at the announcement of a sh53b profit after tax half-year results last week that they would focus on areas that are profitable to reduce the likely impact of inflation. He said the bank would focus on trade financing and extending finance to SMES.

By David Mugabe: The New Vision Newspaper

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Currency and Forex News .

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Book a Prisons & Correctional
Charity Tour

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency