Tropical Bank of Uganda Full-Year Profit Doubles as Loans Grow
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Tropical Bank Ltd., the Libyan-owned lender seized by Uganda’s central bank last month, said full-year profit almost doubled as deposits and loans grew.
Net income surged to 5.65 billion Ugandan shillings ($2.37 million) in 2010 from 2.98 billion shillings a year earlier, the Kampala-based bank said in a statement published in the New Vision newspaper today. Deposits grew 21 percent to 127.9 billion shillings, while loans climbed 53 percent to 84.4 billion shillings, it said.