The total combined gross revenue of twenty six (26) commercial banks in Uganda was Ugx. 1.94 trillion (US $750 million) in 2011. It increased to US $810m in 2012. The total cost of doing banking business was Ugx. 1.34 trillion (US $515m) in 2011. That is a 69% cost to income ratio (CIR)! It means that for every 100 shillings each bank earned, 69 were spent. This is quiet telling of the level of inefficiency in the sector. With a CIR averaging below 55.1%; UK, Greek, and Irish banks have high profitability despite a large portfolio and demanding clientele base.…