In the gospel we find the disciples in a small, frail, boat, struggling with a heavy sea and a strong headwind. The Sea of Galilee is surrounded by hills and strong winds can come down the valleys and stir up the sea. In all sorts of ways, we can all find ourselves struggling with a heavy sea and a strong headwind. We sense our frailty and vulnerability; the odds against us seem stronger than our resources. In today’s second reading, Paul seems to be speaking out of that kind of overwhelming situation. He says, ‘my sorrow is so great, my…
Why a high cost to income ratio in banks?
#mindspark #banking Uganda’s banking industry is characterized by a high cost to income ratio. In 2016, during the election period, it peaked at an average of 97.5%, meaning a gross profit margin of just 2.5%! Being dominated by foreign banks, profits are repatriated through transfer pricing, high expatriate staff salaries and benefits, and generally high cost of capital from head offices… etc. Above all, many banks automation is not optimized. ICT is not an efficient driver but a cost driver making banking experience expensive. And of course, fraud costs reported as expenses! On 14th August 2020, we launch the banking…
