Standard Chartered’s Uganda Unit Says Profit Rose 35% in 2011
Standard Chartered Plc (STAN)’s Ugandan unit said full-year profit in 2011 climbed 35 percent after loans and advances grew.
Net income in the 12 months through December rose to 98.2 billion Uganda shillings ($39.2 million) from 73 billion shillings a year earlier, Standard Chartered Bank Uganda Ltd. said in a statement published in the Kampala-based New Vision newspaper today.
Loans and advances to customers climbed 27 percent to 1.1 trillion shillings, while customer deposits rose 8.3 percent to 1.3 trillion shillings, the bank said.
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