Uganda, May 21 -- Commercial banks' annual financial results for 2023 have shown that banks in Uganda maintained strong capital buffers and bagged some profits, although some registered losses.

Banks' financial statements also indicate that the banking industry liquidity coverage ratio - a measure of the ability of the banks to withstand a 30-day liquidity stress period - remained sound and the banks provided products to both corporate and Small and Medium Enterprises, which resulted in the growth of bank assets.

In the spirit of beating competition and attracting more clients, Ugandan banks have stepped up their financial services with new digital products that allow clients to access their financial accounts anytime, anywhere.

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