Meet the central bank that lost US$545 million, vexing lawmakers [Business News Network (BNN) Energy & Resources (Canada)]
STANDARD BANK GRP SP/ADR (SGBLY)
NASDAQ:AMEX Investor Relations:
reporting.standardbank.com
Company Research
Source: Business News Network
Meet the central bank that lost US$545 million, vexing lawmakers The Bank of Uganda has been making losses for most of the past 15 years and lawmakers in East Africa’s third-biggest economy are getting anxious about its ability to execute its mandate. BoU lost a total two trillion shillings (US$545 million) during the period and only turned in a profit in 2007, when it made 40 billion shillings, Finance State Minister David Bahati told parliament on Thursday, raising the ire of some lawmakers. “Can the minister brief the country the circumstances under which the bank made the losses yet it trades in securities,” Richard Othieno, a member of parliament with the ruling National Resistance Movement party, demanded in parliament. While central banks invest in securities to raise revenue for national coffers, market unpredictability and volatility put them at risk of loss, parliament said in a statement, without giving detail on the type of losses for the wholly state-owned bank. “The bank
Show less
Read more
Impact Snapshot
Event Time:
SGBLY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SGBLY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SGBLY alerts
High impacting STANDARD BANK GRP SP/ADR news events
Weekly update
A roundup of the hottest topics
SGBLY
News
- Motsepe-Backed GoSolr Plans $537 Million South Africa Expansion [BNN Bloomberg (Canada)]BNN Bloomberg
- Capitec to Tap Small Firms to Sustain 127,428%, 30-Year Rally [BNN Bloomberg (Canada)]BNN Bloomberg
- Painful week for individual investors invested in Standard Bank Group Limited (JSE:SBK) after 3.8% drop, institutions also suffered losses [Yahoo! Finance]Yahoo! Finance
- Standard Bank to Deepen Mideast Ties With New Egypt Office [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Kenyan private sector activity slows in March, PMI shows [Reuters]Reuters