Centenary Bank Uganda Profits up sh29b

Thursday, 31st March, 2011

CENTENARY Bank posted a rise in net profits of sh29b in 2010, up from the sh26b earned the previous year.

The performance results released on Wednesday also indicated that deposits rose by 42% to sh630b in 2010.

Fabian Kasi, the managing director, said total assets grew by 40% to sh807b.

“We hope to push this to a trillion shillings by the end of this year,” Kasi noted.

He attributed the growth to the widespread branch network, prudent lending methods, improved service delivery and their focus on the wellbeing “of the customer first and profits later.”

Kasi pointed out that their focus on agriculture had also paid off.

“We do not take our people in rural areas,” he added.

By Prossy Nandudu : The New Vision Newspaper