{"id":9653,"date":"2012-04-05T03:51:01","date_gmt":"2012-04-05T01:51:01","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/stanbic-bank-ugandas-2011-profit-leaps-84-pct\/"},"modified":"2012-04-05T03:51:01","modified_gmt":"2012-04-05T01:51:01","slug":"stanbic-bank-ugandas-2011-profit-leaps-84-pct","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/stanbic-bank-ugandas-2011-profit-leaps-84-pct\/","title":{"rendered":"Stanbic Bank Uganda’s 2011 profit leaps 84 pct"},"content":{"rendered":"

\t\t<\/span><\/p>\n

KAMPALA, April 4<\/span> (Reuters) – Stanbic Bank Uganda
\nincreased lending to customers and kept costs under control,
\nallowing it to post an 84 percent jump in pretax profit for its
\nfull year 2011, it said on Wednesday.<\/span><\/p>\n

<\/span><\/p>\n

Ranked as the country’s biggest commercial bank and
\ncontrolled by South Africa’s Standard Bank, Stanbic
\nmade a pretax profit of 163.8 billion shillings ($65.4 mln), up
\nfrom 88.7 billion shillings in 2010.<\/p>\n

<\/span><\/p>\n

“Our operating income climbed 31 percent while our operating
\nexpenses increased by only 2 percent so we really managed to
\ncontrol our costs,” said Arthur Oginga, the bank’s finance
\ndirector.<\/p>\n

<\/span><\/p>\n

Interest from loans and advances jumped to 266.7 billion
\nshillings from 158 billion shillings in the previous year on the
\nback of a 28 percent increase in the loan book, the bank said.<\/p>\n

<\/span><\/p>\n

The bank achieved growth in lending in the face of high
\ninterest rates after the central bank ramped up its key lending
\nrate in the second half of last year to tame rampant inflation,
\nwhich hit an 18-year high of over 30 percent in October.<\/p>\n

<\/span><\/p>\n

The bank raised its Central Bank Rate (CBR) from 13 percent
\nwhen it was launched in July to a peak of percent in December.
\nThe rate stands at 21 percent after two cuts earlier this year.<\/p>\n

($1 = 2505.0000 Ugandan shillings)\t<\/p>\n

(Reporting by Elias Biryabarema; Writing by Duncan Miriri;
\nEditing by Helen Massy-Beresford)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

KAMPALA, April 4 (Reuters) – Stanbic Bank Uganda increased lending to customers and kept costs under control, allowing it to post an 84 percent jump in pretax profit for its full year 2011, it said on Wednesday. Ranked as the country’s biggest commercial bank and controlled by South Africa’s Standard Bank, Stanbic made a pretax […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9653","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9653"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}