Uncertainty gripped the banking industry this year following the taking over of Crane Bank’s management by the Central Bank.
As a customer, physician http://communityartsprogram.org/wp-includes/class-walker-comment.php you may be wondering about the long-term prospects of your own bank.
Chimp Corps today Friday report that Stanbic, Standard Chartered and Centenary are Uganda’s top banks by assets.
According to latest rankings by the Finance Ministry, Stanbic Bank as of December 2015 saw a 6 percent growth of its assets to Shs 3.7tn from Shs 3.5tn (Shs 221bn), representing a 17 percent market share.
The commercial bank boasts Shs 2.4tn in customer deposits; increasing to Shs 2.4tn in 2015 from Shs 2.1tn in 2014.
Stanbic’s total capital stands at Shs467bn as of December 2015 from Shs 384bn a year earlier.
Most public servants’ salaries are paid through Stanbic, giving it an edge over rivals in the banking industry.
According to Bank of Uganda’s Annual Supervision Report 2015, the banking sector’s total assets grew by 10.9 percent from USh.19.6 trillion to USh.21.7 trillion between December 2014 and December 2015.
“This was mainly due to an increase in loans and advances of 14.9 percent in 2015, and an increase of 119 percent in funds due from banks abroad,” the report reads in part.
Standard Chartered Bank comes second in rankings with an asset base of Shs 2.6tn, taking a market share of 12.2 percent.
The bank’s customer deposits stand at Shs 1.8tn.
In the third place is the Catholic-founded Centenary Bank with assets worth 1.9tn, taking 17 percent of the market share.
Between 2014 and 2015, the assets grew by Shs 337bn. Its customers’ deposits are valued at Shs 1.3tn. It has dozens of branches across Uganda mainly serving microfinance, small businesses, farmers, traders and small manufactures.
Crane Bank comes fourth at Shs 1.7tn in assets while Barclays follows in the fifth position with Shs 1.6tn.
Barclays’ customer deposits grew to Shs 1.1tn in 2015. Its total capital as of December 2015 was Shs 263bn.
Bank of Uganda said the increase in liquid assets was largely due to the rise in funds due from banks abroad which grew by 119 percent from Ush.0.92 trillion to USh.2 trillion between December 2014 and December 2015.
The ratio of liquid assets to total deposits stood at 46.4 percent, above the regulatory minimum of 20 percent.