Friday, April 29, 2011

Stanchart 2010 profits drop

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By Patrick Kagenda

Standard Chartered Bank saw its after tax profit drop by 2 per cent in 2010 to Shs73bn from Shs74.8bn in 2009, according to figures released yesterday by Uganda’s oldest bank. The bank’s assets grew by 45 per cent to Shs1.802 billion in 2010 from Shs1.243 billion in 2009. Net Loans and advances picked to register an impressive 51 per cent growth at Shs864 billion compared with Shs573 billion recorded in 2009.

“We have continued to run our business based on the

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