Ugandan borrowers credit-worthy â€" expert
UGANDAN borrowers are among the lowest credit-risk on the continent, Francis Mills-Robertson, the head of consumer banking at Standard Chartered Bank (SCB), has said.
By Steven Odeu
UGANDAN borrowers are among the lowest credit-risk on the continent, Francis Mills-Robertson, the head of consumer banking at Standard Chartered Bank (SCB), has said.
“Uganda’s loan default rate is one of the lowest in Africa. In most cases, Uganda’s payment rate is one of the highest,†Mills-Robertson said recently.
A Bank of Uganda official recently said commercial banks’ non-performing loan portfolios had fallen to a single-digit record level of 6% from about 60% six years ago.
“The asset portfolio of SCB and most other banks dealing in consumer banking has more than trebled in the last three years. This shows that loans are being repaid and banks have more appetite to lend,†he said.
Mills-Robertson also said interest rates charged by commercial banks in Uganda are lower and below the base compared with most countries.
He said commercial banks want to give loans to more people.
“However, corporate customers are still missing. There is need for the Credit Reference Bureau and strong regulatory measures,†Mills-Robertson said.
He said SCB has standard practices across all countries and his judgment of Uganda is based on the standardised observation.
UGANDAN borrowers are among the lowest credit-risk on the continent, Francis Mills-Robertson, the head of consumer banking at Standard Chartered Bank (SCB), has said.
“Uganda’s loan default rate is one of the lowest in Africa. In most cases, Uganda’s payment rate is one of the highest,†Mills-Robertson said recently.
A Bank of Uganda official recently said commercial banks’ non-performing loan portfolios had fallen to a single-digit record level of 6% from about 60% six years ago.
“The asset portfolio of SCB and most other banks dealing in consumer banking has more than trebled in the last three years. This shows that loans are being repaid and banks have more appetite to lend,†he said.
Mills-Robertson also said interest rates charged by commercial banks in Uganda are lower and below the base compared with most countries.
He said commercial banks want to give loans to more people.
“However, corporate customers are still missing. There is need for the Credit Reference Bureau and strong regulatory measures,†Mills-Robertson said.
He said SCB has standard practices across all countries and his judgment of Uganda is based on the standardised observation.