DFCU Bank records 21% growth in profit for the year 2019

UGANDA – Development Finance Company of Uganda Bank Limited (DFCU Bank) has registered growth in profitability of UShs73.4 billion (US$19.43), representing a 21 per cent growth compared to UShs60.9 billion (US$16.12m) in 2018. The DFCU financial results of 2019 show that overall, interest expense reduced by 7 per cent from UShs104.7 billion (US$27.71m) to UShs97.8 billion (US$25.89m), showing improved efficiency in the liability mix as a result of management’s effort to shed off expensive funding and concentrate more on cheaper liabilities. Consequently, the net interest income of the company increased…

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