Bank of Uganda has responded to the rise in banks' non-performing loans and other assets (NPAs) recorded in 2012 arguing that the rise was mainly attributed to the macroeconomic challenges in 2012.
The bank however, in an email to this magazine was quick to say that the industry Non-Performing Assets average remained within acceptable levels. It said the current NPAs/Total Advances ratio as at March 31, 2013 was 4.66% slightly higher than the 4.23% recorded at the end of December 2012.
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