Banks told to expand to city suburbs
May 26, 2008
FINANCIAL institutions should set up branches in the suburbs to meet the increasing demand for their services, the central bank governor has advised.
By Mark Owor
FINANCIAL institutions should set up branches in the suburbs to meet the increasing demand for their services, the central bank governor has advised.
Emmanuel Tumusiime Mutebile said the traffic jams in the city centre, busy schedules and rapidly growing city suburbs create a need for more financial services in less-congested places.
While opening the 16th dfcu branch at Kagga House at Old Port Bell Road in Bugolobi, Mutebile cautioned banks against fraudulent borrowers.
He said bank interest rates are to be reduced with the commencement of the Credit Reference Bureau (CRB) in July.
“This facility will go a long way in minimising risks of lending to bad borrowers and improving the credit culture in the country. This should translate into lower interest rates for customers with good credit rating,†Mutebile said.
dfcu’s managing director, Moses Kibirige, appealed to all Ugandans to embrace the saving culture.
FINANCIAL institutions should set up branches in the suburbs to meet the increasing demand for their services, the central bank governor has advised.
Emmanuel Tumusiime Mutebile said the traffic jams in the city centre, busy schedules and rapidly growing city suburbs create a need for more financial services in less-congested places.
While opening the 16th dfcu branch at Kagga House at Old Port Bell Road in Bugolobi, Mutebile cautioned banks against fraudulent borrowers.
He said bank interest rates are to be reduced with the commencement of the Credit Reference Bureau (CRB) in July.
“This facility will go a long way in minimising risks of lending to bad borrowers and improving the credit culture in the country. This should translate into lower interest rates for customers with good credit rating,†Mutebile said.
dfcu’s managing director, Moses Kibirige, appealed to all Ugandans to embrace the saving culture.