Dfcu Bank appoints Hope Ekudu as the new Chief Operating Officer

UGANDA – Development Finance Company of Uganda Bank Limited (dfcu Bank), a commercial bank, has appointed Hope Ekudu as the new Chief Operating Officer, replacing Mr Andrew Kabeera. Ms Ekudu joined the Bank’s senior management team and will provide strategic leadership to the Operations function with a focus on driving operational excellence. With a banking career spanning over 13 years, Ekudu has held several roles at management level including Head of Business and Institutional Banking, Head of Operations and Business Technology as well as Head of Retail Banking. She has…

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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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