Loan approvals, applications dropped in last three months

Banks have been reluctant to approve loans due to the increased risk of defualt. PHOTO | EDGAR R. BATTE

What you need to know:

  • Shilling appreciation. In its highlights, the Central Bank also noted that the exchange rate appreciation trend had continued into September although depreciation pressures had emerged between September and August. 
  • The appreciation was supported by high inflows from remittances and transfers from non-government organisations, strong portfolio inflows from offshore players looking for higher yields and increased export earnings, from coffee and tea. 

Loan applications fell in the quarter ended August, according to data from Bank of Uganda. 

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