#mindspark #banking Uganda’s banking industry is characterized by a high cost to income ratio. In 2016, during the election period, it peaked at an average of 97.5%, meaning a gross profit margin of just 2.5%!
Being dominated by foreign banks, profits are repatriated through transfer pricing, high expatriate staff salaries and benefits, and generally high cost of capital from head offices… etc. Above all, many banks automation is not optimized. ICT is not an efficient driver but a cost driver making banking experience expensive. And of course, fraud costs reported as expenses!
On 14th August 2020, we launch the banking report with lots of insights. It will be an MBA on the banking of sorts. You cannot afford to miss. Visit www.summitcl.com to attend free of charge. #banks #bankingindustry #financialservices
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