Ugandan deputy governor explains decision to nationalise NBC

uganda-shilling

The Ugandan authorities has no other option but to take over and ultimately close one of the country's commercial banks following persistent losses that ultimately threatened the deposits of Ugandan citizens, according to Louis Kasekende, deputy governor of the Bank of Uganda.

During the past two years, the National Bank of Commerce (NBC) had accumulated losses of 8.4 billion Ugandan shillings ($3.3 million), according to Kasekende. This year alone, the bank posted losses of more than one

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: