Bank of Baroda Uganda Six-Month Net Climbs 40% as Loans Increase

Bank of Baroda (BOB)’s Ugandan unit said six-month net income surged 40 percent from a year earlier as loans and deposits grew.

Profit rose to 17.9 billion shillings ($7.2 million) from 12.8 billion shillings a year earlier, the Kampala-based Bank of Baroda Uganda Ltd. (BOBU) said in an advertisement published today in New Vision newspaper.

Loans increased 30 percent to 293.2 billion shillings, and deposits climbed 13 percent to 435.3 billion shillings.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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