DOCSLIB.ORG

1997 EXIM Bank Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
1997 EXIM Bank Annual Report E XPORT -IMPORT B ANK OF THE U NITED S T A TES Supporting Exports... Sustaining Jobs... S trengthening Communities... 1997 ANNUAL R EPORT CHAIRMAN’S LETTER AS THE 18TH PRESIDENT and Chairman of the Export-Import Bank of the United States (Ex-Im Bank), I am pleased to pre- sent the 1997 Annual Report to our “stockhold­ ers” — the taxpayers of the United States. The Ex-Im Bank is in a sound financial condition, with ample reserves and an excellent record of financial results. Furthermore, Congress has granted Ex-Im Bank a four-year reauthorization through the end of Fiscal Year 2001 to continue our work in support of U.S. exports and jobs. Our dedicated and talented staff has achieved James A. Harmon President & Chairman notable success in the past year, especially in implementing new ways to bring the Bank’s pro- grams closer to our customers — U.S. compa­ nies, small and large, that seek to export their products and services to developing markets around the globe. “Jobs through Exports” is not just a slogan: it is a mission that we carry out every day. We help businesses across the country to enter new and rapidly growing markets, where private sources of financing are very limited or nonexistent. For many people, Ex-Im Bank’s daily work of leveling the playing field for U.S. companies may seem as remote as the countries to which U.S. goods and services are being shipped. However, American workers — whether they are building commercial aircraft, telecommunications equipment, power generation facilities, or water purification systems to provide safe drinking water in developing nations — have higher quality, better paying jobs, thanks to Ex-Im Bank’s financing. 2 / 1 9 9 7 A N N U A L R E P O R T EXPORT -IMPORT BANK OF THE UNITED STA TES The narrative of this report features several recent During 1997, Congress conducted an extensive Ex-Im Bank transactions and shows the broad review of Ex-Im Bank’s policies and programs in effect on subcontractors and subsuppliers around order to determine whether to reauthorize the the country. Too often, we view “exporters” in nar­ agency. Ex-Im Bank’s previous reauthorization rowly defined terms, thinking only of traditional was in 1992 for a five-year period. contract holders, missing myriad unseen compa­ nies that, in fact, are the contract “fulfillers.” It is Within 30 days of my swearing-in, I testified estimated that Ex-Im Bank supports more than before the Senate Banking Committee on behalf 200,000 jobs directly each year among primary of Ex-Im Bank’s reauthorization. It was an unusu­ contractors and an additional one million jobs indi­ al initiation for me, but upon reflection, I believe rectly among subcontractors and subsuppliers. it was a healthy and important process. The Bank’s staff and leadership met with many mem­ FISCAL 1997 - IMPORT bers of Congress, testified in numerous hearings, RT B O A P N and listened to their concerns. I was delighted IN REVIEW X K E Ex-Im Bank completed that the Senate voted unanimously and the MCMXXIV 2,348 transactions with a O House of Representatives by a margin of 378 to 38 S F E total export authorization T T to reauthorize this agency through FY 2001. H A E S T of $12.2 billion, supporting U N I T E D U.S. exports valued at more Ex-Im Bank achieved a number of other signifi­ than $15 billion. The bulk of our financing is for cant milestones this past year. Our Project exports to the Big Emerging Markets, where com­ Finance Division, formed just three years ago to mercial financing is insufficient or unavailable. meet the growing global demand for limited recourse project financing, completed its 22nd I believe that Ex-Im Bank, when considered by transaction, bringing aggregate Ex-Im Bank sup- any set of objective economic criteria, is an port for this type of financing to $6 billion. excellent value for the U.S. taxpayer. Assuming that pre-tax margins are 10% to 15% on the $15 Ex-Im Bank’s Working Capital Guarantee billion in exports, income tax receipts for the Program, an important source of export financing federal government directly related to these spe­ for small and medium-sized businesses, authorized cific exports would approximate the $843 million loans of $443.3 million in FY 1997 — a new program budget of Ex-Im Bank in FY 1997. In record. The Bank continues to take very seriously other words, the net cost of Ex-Im Bank pro- our mandate to reach out to small business, and we grams to the taxpayer is very modest. are working closely with our 34 City/State partners and 80 Delegated Authority lenders to find new venues to enhance participation in our prog r a m s . W O R K I N G T O W A R D A Si g n i f i c a n t l y , 357 small businesses that rec e i v e d S T R O N G F U T U R E Ex-Im Bank’s assistance during the year had not I believe that it is important that Ex-Im Bank pr eviously participated in Bank prog r a m s . anticipate changes in the marketplace and the “We can not create needs of the Bank’s customers, and develop enough good jobs and In FY 1997, the growing world economy generat­ a p p ropriate policies and pro g r a m s . increase wages if we don’t ed considerable demand for U.S. capital good s and equipment. In the aircraft sector, demand for Attaining the next level of achievement means expand trade. There’s a financing grew among developing country air- im p r oving Ex-Im Bank’s responsiveness to our cus­ simple reason why. lines seeking to mod e rnize their fleets. Ex-Im tomers and creating new and innovative pro- Indeed, about a third of B a n k ’s Aircraft Finance Division supported $2.1 grams. It means expanding the number of small the economic growth that billion in exports. businesses using Ex-Im financing to enter the has produced 13 million global market, reestablishing the leadership role of new jobs over the past four As the official export credit agency of the our Project Finance Division, increasing the num­ and a half years has come United States, Ex-Im Bank continues to lead ber of delegated authority banks, and expanding U.S. government eff o rts in international negoti­ from selling more American our City/State Program. In this balanced-budget ations to level the playing field for American products overseas.” era, Ex-Im Bank must manage both financial and business. Ex-Im Bank has been working for the human res o u r ces more effi c i e n t l y . Simply put, we past several years within the Organization for must maximize the value for the taxpayer. – President Bill Clinton Economic Cooperation and Development (OECD) to reach agreement on several key It is important to note that Ex-Im Bank began FY issues that directly affect the ability of U.S. firm s 1998 with a significant backlog in demand for to export. In June 1997, the Bank supported a financing, but we are closely monitoring rec e n t new agreement by the OECD’s Export Cre d i t developments in Asia and Russia with a view A rrangement group to set minimum pre m i u m to w a r d the impact of any economic decline on the rates (also called exposure fees) for country and demand for U.S. products and services. The explo­ s o v e reign risk. This agreement is an import a n t sive growth of emerging markets around the world step toward increasing fair competition in the will not continue in a straight line — there will be world marketplace. bumps along the way. I believe that management 4 / 1 9 9 7 A N N U A L R E P O R T EXPORT -IMPORT BANK OF THE UNITED STA TES at the Bank is well pre- • Reduction of trade-distorting practices: We pared to meet the chal­ will continue our efforts in multilateral negoti­ lenges of the future ations to reach new agreements that would and to continue build­ reduce export finance subsidies and related ing. In this regard, we practices that distort trade and unfairly disad­ are focusing on the fol­ vantage U.S. exports. lowing opportunities: Ex-Im Bank’s impact is felt in thousands of cities • Partnership with the private sector: We will and towns across the country where American work to expand the availability of financing workers create the goods and provide the services for U.S. exports by pioneering joint ventures that are the export engines of growth in the U.S. with the private sector to leverage con- economy. After almost four decades in the pri­ strained budget resources. vate sector as an investment banker, I am proud to serve with the employees of Ex-Im Bank to • More small business support: We will develop meet the challenges ahead. new financing programs to enhance support for small and medium-sized businesses. As President and Chairman of Ex-Im Bank, I am mindful of the many who proceeded me and the • Intergovernmental coordination: We will many who will follow. I am grateful to my three work to integrate our programs and activities immediate predecessors who were helpful to me with other export assistance programs of the in preparation for this assignment.
Load more

Recommended publications
  • What Happens to Microfinance Clients Who Default?
    What Happens to Microfinance Clients who Default? An Exploratory Study of Microfinance Practices January 2015 LEAD AUTHOR Jami Solli Keeping clients first in microfinance CONTRIBUTORS Laura Galindo, Alex Rizzi, Elisabeth Rhyne, and Nadia van de Walle Preface 4 Introduction 6 What are the responsibilities of providers? 6 1. Research Methods 8 2. Questions Examined and Structure of Country Case Studies 10 Country Selection and Comparisons 11 Peru 12 India 18 Uganda 25 3. Cross-Country Findings & Recommendations 31 The Influence of Market Infrastructure on Provider Behavior 31 Findings: Issues for Discussion 32 Problems with Loan Contracts 32 Flexibility towards Distressed Clients 32 Inappropriate Seizure of Collateral 33 Use of Third Parties in Collections 34 Lack of Rehabilitation 35 4. Recommendations for Collective Action 36 ANNEX 1. Summary of Responses from Online Survey on Default Management 38 ANNEX 2. Questions Used in Interviews with MFIs 39 ANNEX 3. Default Mediation Examples to Draw From 42 2 THE SMART CAMPAIGN Acknowledgments Acronyms We sincerely thank the 44 microfinance institutions across Peru, AMFIU Association of Microfinance India, and Uganda that spoke with us but which we cannot name Institutions of Uganda specifically. Below are the non-MFIs who participated in the study ASPEC Asociacion Peruana de as well as those country experts who shared their knowledge Consumidores y Usuarios and expertise in the review of early drafts of the paper. BOU Bank of Uganda Accion India Team High Mark India MFIN Microfinance Institutions
    [Show full text]
  • Janiece Stewart Submits Resignation Search Begins for a New Director of Security
    Vol. LXXXIV, Issue 14. February 3,19871 TRINITY COLLEGE • HARTFORD • CONNECTICUT JRIN1TV COUFT-F i'"'•"•% RECEIVED" Janiece Stewart Submits Resignation Search Begins For a New Director of Security by Sean Dougherty and Chip leave Trinity comes on the heels of dent body's confidence in the These events have angered, not t<> the search committep. Rhodes a spate of burglaries that have Security staff and for the first time only students, but some school of- "The student government will Special to the Tripod prompted reactions from both the focused public attention on Stew- ficials as well. Last week, one of- continue its efforts to keep the student body and the administra- art's office. ficial who wished to remain pressure on the school to do some- tion. The much publicized Cave fight anonymous said that the Security thing about security," Vartenigian Amid student outcry and contro- Last week, two students circu- of September 28 raised more ques- problem has reached crisis propor- said. versy concerning the competence lated a petition calling for a com- tions pertaining to Security's abil- tions. of the Security force, Director of plete review of the role of Security ity to handle crisis situations and "I don't expert Security to pre- A member of the board of trust- ees has volunteered to hire a se- Security Janiece Stewart has sub- in protecting the campus and Vice sparked debate over the extent of vent burglaries, but many of the mitted her resignation to the President Thomas A. Smith sent Security's duties at campus events.
    [Show full text]
  • Ifs Too Ciose to Cali Result of GOP Vote I
    MANCHESTER CONNECTICUT Feds give MCC Six incumbents Rice is carrying its biggest grant have free ride red-hot Bosox ... p ag « 3 page 5 paga 9 ilanrhrBtrr) Manchester — A City of Village Charm Hrralft Monday. Sept. 8, 1986 25 Cents S 1M6 ifs too ciose to cali result E T m I V\ M of GOP vote FI By Judd Everhart The Associated Press Related stories P HARTFORD — Connecticut's on page 5 too-close-to-call. three-way Re­ ■ / publican gubernatorial primary is set Tuesday, with 460.000 regis­ tered Republicans eligible to school teacher. participate. Bozzuto. also 56. is an insurance The election will likely turn on agent. He spent eight years In the personal style rather than posi­ state Senate. He and Labriola tions on issues. Indeed, there have unsuccessfully sought the guber­ been no burning issues in the race natorial nomination four years that's been carried on in the seven ago weeks since the nominating Labriola ended up running for Harild photo by Pinto convention. lieutenant governor In 1982. Boz­ The convention gave its endorse­ zuto lost a bid in 1980 for the U S. Mary Willhide (left). Republican registrar of voters, and primary Tuesday from noon to 8 p.m. One of registrars' ment to former state Sen. Richard Senate nomination. Belaga has Patricia Cottle, her deputy, check a voting machine this C. Bozzuto of Watertown. But never before sought statewide tasks Is to be sure the tally in each slot on the machines Deputy House Majority Leader office. morning at Martin School. The school isoneof 12polling reads zero before the machine Is locked up In preparation Julie D.
    [Show full text]
  • Final-Actis Inreview Lores Single.Pdf
    Actis in review 2013 The positive power of capital Contents 03 Where we are now 08 Portfolio at work Banque Commerciale du Rwanda 10 Portfolio at work Garden City 13 Actis at a glance 14 Portfolio at work Bellagio 17 Portfolio at work Globeleq Mesoamerica Energy 20 Portfolio at work Asiri Group 23 Portfolio at work AGS 26 Regions and sectors 28 Investments 29 Investors 30 Portfolio companies 34 The team São Paulo, Brazil Welcome This report summarises the events and achievements of Actis in the last twelve months. Whether we are sharing the story of the Rwandan bank in which we invested nearly a decade ago, or the ATM chain rolling out across India, the tale we tell is of strong businesses, in attractive sectors, in some of the most populous and dynamic parts of the world. Our goal is to give you a sense of the breadth of our work, and the depth of our expertise. Providing insight into the energy and promise of those high growth markets which have already begun to define this century. I hope you enjoy reading this year’s annual review. Paul Fletcher Senior Partner Accra, Ghana Where we are now If the financial meltdown corporate governance, health and safety, labour law, and environmental and social practices. of August 2008 taught They must also be highly profitable. us anything it is that Our investment professionals have this in mind everything connects. The from the first dollar and day of the investment. Everything they do is focused on creating value. fortunes of a Manhattan Their work is supplemented by a dedicated team of in-house consultants who do nothing but headquartered bank, a implement best practices, and share what they know works from their past experiences in the string of late night phone same sectors.
    [Show full text]
  • Review of Research Impact Factor : 5.7631(Uif) Ugc Approved Journal No
    Review Of ReseaRch impact factOR : 5.7631(Uif) UGc appROved JOURnal nO. 48514 issn: 2249-894X vOlUme - 8 | issUe - 5 | feBRUaRY - 2019 __________________________________________________________________________________________________________________________ A STUDY ON “PAYMENT BANKING IN DIGITAL AND FINANCIAL INCLUSION THROUGH LEADING –SOCIAL ADVANCEMENT INITIATIVES” Prof. K. M. Mahesh1 and Dr. K .Manjunath2 1Research Scholar at Dravidian University, Kuppam,AP & Principal, Sri Bhagawan Mahaveer Jain Evening College, V.V.PURAM,Bangalore. 2Research Supervisor , Associate Professor Department of Commerce and Management Seshadripuram college Bangalore. ABSTRACT : The Payment Banks (PBS), which offerselectronic remittances, financial advisory, online banking and more,offerimmediate value to unbanked consumers.They are designed to improve social Culture,through Digital and Financial Inclusion. Payment Bank(PBS) will lead the Social advancement in terms of living standardwhen society uses the skill fullest,that society will prosper,it makes society upward movement.The Demonetizationand Digitation are given scope for innovating techniques of banking payment system. The concept of payments banks was first proposed by a Reserve Bank of India (RBI) committee onComprehensive Financial Services for Small Businesses and Low- Income Households. led by board member Nachiket Mor. Payment Banks (PBS) will help in promoting financial inclusion, or the process of spreading banking services is critical in India, where more than half of the adult population still do not have access to banking services. Through the Payment Banks (PBS)promoting 5 A’s of FinancialInclusion in cashless payment: Availability,Accessibility,Acceptability, Affordability, and Awareness. The Jan Dhan Aadhaar Mobile (JAM),Swiping ePoS and MicroATMswill help people to get digital transaction Awareness. KEYWORDS : Payment Banks, Financial inclusion, Reserve Bank of India (RBI), Social advancement and Digitation.
    [Show full text]
  • Absa Bank 22
    Uganda Bankers’ Association Annual Report 2020 Promoting Partnerships Transforming Banking Uganda Bankers’ Association Annual Report 3 Content About Uganda 6 Bankers' Association UBA Structure and 9 Governance UBA Member 10 Bank CEOs 15 UBA Executive Committee 2020 16 UBA Secretariat Management Team UBA Committee 17 Representatives 2020 Content Message from the 20 UBA Chairman Message from the 40 Executive Director UBA Activities 42 2020 CSR & UBA Member 62 Bank Activities Financial Statements for the Year Ended 31 70 December 2020 5 About Uganda Bankers' Association Commercial 25 banks Development 02 Banks Tier 2 & 3 Financial 09 Institutions ganda Bankers’ Association (UBA) is a membership based organization for financial institutions licensed and supervised by Bank of Uganda. Established in 1981, UBA is currently made up of 25 commercial banks, 2 development Banks (Uganda Development Bank and East African Development Bank) and 9 Tier 2 & Tier 3 Financial Institutions (FINCA, Pride Microfinance Limited, Post Bank, Top Finance , Yako Microfinance, UGAFODE, UEFC, Brac Uganda Bank and Mercantile Credit Bank). 6 • Promote and represent the interests of the The UBA’s member banks, • Develop and maintain a code of ethics and best banking practices among its mandate membership. • Encourage & undertake high quality policy is to; development initiatives and research on the banking sector, including trends, key issues & drivers impacting on or influencing the industry and national development processes therein through partnerships in banking & finance, in collaboration with other agencies (local, regional, international including academia) and research networks to generate new and original policy insights. • Develop and deliver advocacy strategies to influence relevant stakeholders and achieve policy changes at industry and national level.
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Terminal Report
    TERMINAL REPORT OF ESTABLISHMENT aOr'IITTEE OF THE, ILGANDA AC" TL A FINANCGE' AGENOY Ju'lyv 1987 CONTENT'S Page Background I Up-dating: June 1985 UAFA Document 1 cN'nership Structure 2 Capital i.sation 2 Memorandum and Articles of Association 4 UAFA B,-anch locations Lnd Expansion Plan 4 Casht'low and brea-e, n budgets for UAFA 5 Management and Systems Manuals 5 Automation of L'AA management Systems 6 Agricultural Input S tuazion Studies 7 Cost of PRoduction Studies (Farnnmodels) 7 Farmer profile studws 8 Training 8 Concluding Remarks 9 Annexes 1 Te.rn-3 of Referenceof the Es'tbablishment Comittee. 2. Itinerary oz' the Establishment Committee. 3. List of Members of the Est~b'ishimnt bomittee. TERMINAL REPORT OF THE ESTABLISHMENT COMMITTEE OF THE UGANDA AGRICULTURAL FINANCIA. AGENCY (UAFA) July 1987 THE RACKGROUND The Board of Directors of the Bank of Uganda approved establishment of the UAF in December 1985. Following that decision of the Bank at its meeting Management in March 1986 detailed its Development Finance Department to provde leadership for organizing and facilitating the settng up of UAFA by opening up a desk within the Department for that purpose. At Lhe Departmental meeting held on March 27, 1986, a nucleus committee tas established under the chairmanship of J. Nsereko to work in detail the modalities out of establishing UAFA as a corporate entity. Specific terms of reference of the committee are annexed to this report. Between April 1986 and March 1987, the commnittee he~d twenty four working meetinzs and the product. of that effort constitutes this report.
    [Show full text]
  • BUSINESS Reagan Asks Moscow to Work for Peace
    ZO - M ANCHESTER HERALD. Saturday, Jan. 14, 1984 BUSINESS Elliott recalls years Debate by Democrats MHS hockey In courtand before becomes yelling match tourney-bound \ Business Check first to avoid 'moving shock’ ... page 3 page 4 ... page 11 In Brief If you’re among the 80 percent of shoppers for a new Some utilities, such as Florida Power 4 home, the odds are that a prime consideration you'll evaluate the energy integrity of a house. Other Snow now an associate overlook (until too late) is the compatibility of a new utilities, such as Pennsylvania Power 4 Light, have neighborhood. As a result, you will be hit by "m oving Your worked with local builders to create energy-efficient William Snow of Manchester was recently shock” when you discover the culture and costs of the housing developments. recognized as an associate by Positions Inc., a new location differ dramatically from what you have Money's New England-based network of eight executive • Check out the living habits of the present owners become accustomed to. search and placement offices. of a house if the utility bills appear suspiciously low. Another major consideration overlooked by the vast Worth Snow today; Manchester, Conn. The associate designation is awarded only after Winter underwear and not energy efficiency may be majority of home shoppers will be the energy an individual has demonstrated a high degree of Sylvia Porter the reason. sunny Tuesday Monday, Jan. 16, 1984 efficiency of a new house — and the adverse effects of professional competence within the organization. • Be sure not to overlook the efficiency of hot water an energy-inefficient home on your overall housing — See page 2 Single copy; 25<t Snow, a Boston University graduate, is heaters and refrigerators.
    [Show full text]
  • Presidential Documents
    Weekly Compilation of Presidential Documents Monday, April 18, 1994 Volume 30ÐNumber 15 Pages 745±820 1 VerDate 09-APR-98 12:45 Apr 16, 1998 Jkt 010199 PO 00000 Frm 00001 Fmt 1249 Sfmt 1249 C:\TERRI\P15AP4.000 INET03 Contents Addresses and Remarks Appointments and NominationsÐContinued American helicopter tragedy in IraqÐ809, U.S. Attorneys 815 AlabamaÐ791 American Society of Newspaper EditorsÐ794 DelawareÐ792 BosniaÐ771 New JerseyÐ792 Law enforcement officersÐ775 Communications to Congress Legislative agendaÐ783 Mayors and law enforcement officialsÐ810 Angola, messageÐ790 Minnesota Evacuations from Rwanda and Burundi, Health care rally in MinneapolisÐ746 letterÐ792 Japan and RwandaÐ752 Panama Canal Commission, messageÐ791 Town meeting in MinneapolisÐ754 Protection of United Nations personnel in Missouri, arrival in Kansas CityÐ745 Bosnia-Herzegovina, letterÐ793 Nonprofit organizationsÐ784 Rhinoceros and tiger trade, letterÐ781 Public housing, telephone conversationÐ773 Executive Orders Radio addressÐ769 Amending Executive Order No. 12882Ð813 Radio and television correspondents dinnerÐ Coordinating Geographic Data Acquisition 786 and Access: The National Spatial Data Thomas Jefferson dinnerÐ778 InfrastructureÐ779 United States Winter Olympic athletesÐ804, 806 Interviews With the News Media Appointments and Nominations Exchanges with reporters Cabinet RoomÐ772, 783 Export-Import Bank, member, Board of Briefing RoomÐ809 DirectorsÐ809 Minneapolis, MNÐ752 National Science Foundation, Deputy Roosevelt RoomÐ815 DirectorÐ791 South PorticoÐ771 Superior Court of the District of Columbia, Associate JudgeÐ791 Meetings With Foreign Leaders Treasury Department, Under SecretaryÐ814 Turkey, Prime Minister CillerÐ815 (Continued on the inside back cover.) WEEKLY COMPILATION OF regulations prescribed by the Administrative Committee of the Federal Register, approved by the President (37 FR 23607; 1 CFR Part 10). PRESIDENTIAL DOCUMENTS Distribution is made only by the Superintendent of Docu- ments, Government Printing Office, Washington, DC 20402.
    [Show full text]
  • Bank Supervision Annual Report 2019 1 Table of Contents
    CENTRAL BANK OF KENYA BANK SUPERVISION ANNUAL REPORT 2019 1 TABLE OF CONTENTS VISION STATEMENT VII THE BANK’S MISSION VII MISSION OF BANK SUPERVISION DEPARTMENT VII THE BANK’S CORE VALUES VII GOVERNOR’S MESSAGE IX FOREWORD BY DIRECTOR, BANK SUPERVISION X EXECUTIVE SUMMARY XII CHAPTER ONE STRUCTURE OF THE BANKING SECTOR 1.1 The Banking Sector 2 1.2 Ownership and Asset Base of Commercial Banks 4 1.3 Distribution of Commercial Banks Branches 5 1.4 Commercial Banks Market Share Analysis 5 1.5 Automated Teller Machines (ATMs) 7 1.6 Asset Base of Microfinance Banks 7 1.7 Microfinance Banks Market Share Analysis 9 1.8 Distribution of Foreign Exchange Bureaus 11 CHAPTER TWO DEVELOPMENTS IN THE BANKING SECTOR 2.1 Introduction 13 2.2 Banking Sector Charter 13 2.3 Demonetization 13 2.4 Legal and Regulatory Framework 13 2.5 Consolidations, Mergers and Acquisitions, New Entrants 13 2.6 Medium, Small and Micro-Enterprises (MSME) Support 14 2.7 Developments in Information and Communication Technology 14 2.8 Mobile Phone Financial Services 22 2.9 New Products 23 2.10 Operations of Representative Offices of Authorized Foreign Financial Institutions 23 2.11 Surveys 2019 24 2.12 Innovative MSME Products by Banks 27 2.13 Employment Trend in the Banking Sector 27 2.14 Future Outlook 28 CENTRAL BANK OF KENYA 2 BANK SUPERVISION ANNUAL REPORT 2019 TABLE OF CONTENTS CHAPTER THREE MACROECONOMIC CONDITIONS AND BANKING SECTOR PERFORMANCE 3.1 Global Economic Conditions 30 3.2 Regional Economy 31 3.3 Domestic Economy 31 3.4 Inflation 33 3.5 Exchange Rates 33 3.6 Interest
    [Show full text]
  • Bank of India (Uganda) Ltd Application for Opening an Account
    Bank of India (Uganda) Ltd Application for opening an account Date: / / Customer ID No. Account No. (UGX): Account No. (USD): I / We hereby request Bank of India (Uganda) Limited to open following accounts with the following details. Type of A/c’s (Tick whichever is appropriate); Saving A/c Current A/c Fixed Deposit A/c Recurring Deposit A/c Currency Type (Tick whichever is appropriate); Ugandan Shillings USD GBP EUR Other (specify) For this purpose I / We supply the following information: Name of the Account: Mr /Mrs /Ms /Dr /M/s; ____________________________________ _______________________________________________________________________________________ CONSTITUTION INDIVIDUAL SINGLE JOINT COMPANY PUBLIC (LISTED/UNLISTED) PRIVATE (LISTED/UNLISTED) FIRM SOLE PROPRIETORSHIP PARTNERSHIP TRUST/SOCIETY PERSONAL DETAILS No First Name Middle Name Last Name 1 2 3 4 1 Date of Birth: 2 Date of Birth: 3 Date of Birth: 4 Date of Birth: ------/-------/----------- -------/-------/---------- ------/------/---------- -----/------/------------- Marital Status: Single Married Other (Specify) ________________ 1 Nationality: 2 Nationality: 3 Nationality: 4 Nationality: ----------------------- ------------------------ ---------------------- ------------------------ WORK DETAILS/OCCUPATION OCCUPATION/NATURE OF BUSINESS: EMPLOYER’S NAME: EMPLOYER’S ADDRESS: CONTACT DETAILS/ADDRESS NO CORRESPONDENCE ADDRESS PERMANT ADDRESS OFFICE ADDRESS 1 2 3 4 TELEPHONE NUMBERS/EMAIL ADDRESS NO MOBILE RESIDENTIAL OFFICE/FAX EMAIL 1 2 3 4 IDENTIFICATION PARTICULARS NO PASSPORT NO. DRIVING PERMIT NO. VOTER’S CARD NO. NSSF NO. 1 2 3 4 ISSUED BY: ISSUE DATE:____/____/______ EXPIRY DATE:____/____/_______ TIN NUMBER/ REGISTRATION NO: Do you have any other Bank Account(s) with Bank of India (U) Limited? Yes No NO ACCOUNT NUMBER BRANCH DETAILS OF CREDIT FACILITIES(IF ANY) 1 2 3 4 ACCOUNT FACILITIES REQUIRED 1) Cheque Book; Yes No {No.
    [Show full text]