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DFCU’s Katamba Elected Chairman Uganda Bankers Association

DFCU Bank’s Executive Director Mathias Katamba has been elected as the new chairman of the Uganda Bankers’ Association (UBA), replacing Stanbic’s Patrick Mweheire who served for two years.

Katamba was elected yesterday by the members of UBA on Thursday.

Also elected on the executive committee of UBA is Sarah Arapta, Citibank CEO as Vice-Chair, Varghese Thambi, CEO Diamond Trust Bank as Treasurer,  Sam Ntulume, CEO NC Bank as Auditor, Albert Saltson, CEO Standard Chartered Bank, Committee Member and Veronica Namagembe, CEO Pride Microfinance (MDI), also a Committee Member.

The new leadership assumes responsibility at a time when the industry has registered significant improvements in profitability, credit extension, and growth in assets over the past year 2019; but with new challenges that will be registered during and after Covid19 Pandemic.

Outgoing Chairman Patrick Mweheire noted that in 2019, two financial institutions namely Opportunity Bank and Afriland Bank were issued with commercial banking licenses bringing the total number of tier I banks to 26.

He highlighted that the total assets of the banking industry had increased by 16.7% from Ugx 28.1 trillion at the end of December 2018 to Ugx 32.8 trillion as at December 2019.

This growth he said was attributed to the Growth in loans & advances by 13.9% from Ugx 12.7 trillion reported in 2018 to Ugx 14.46 trillion in 2019.

“In the year  2019, the banking industry registered a growth in loans/ credit facilities spread across most sectors with Real Estate & Construction accounting for 20.2 % of the total industry loan book, followed closely by trade & commerce at 19.2%  personal & household loans at 18.4%, followed by agriculture and manufacturing at 13.5% and 12.8 % respectively.

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“Lending to agriculture registered the highest annual growth rate of 18.1% (Ugx 298 billion) largely attributed to lending extended in the areas of agro-processing (Ugx 219.2 billion),” said Mweheire.

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