Uganda, Dec. 2 -- Banks recorded an increase in loan write-offs in the quarter ended September, according to Bank of Uganda.

Speaking during the Bank of Uganda Financial Stability Symposium in Kampala Mr Robert Mbabazize, the Bank Uganda director for financial stability, said loan write-offs rose by Shs26.1b from Shs102.8b in the quarter ended June to Shs128.9b in September.

However, he said, commercial banks' asset quality improved across the sector, largely due to prudent write-off of bad loans.

Mr Mbabazize also indicated that supervised financial institutions registered a slight decline in non-performing loans from 5.4 percent in June to 5.2 percent.

During the period credit growth remained subdued due in part to muted economic gr...