In the left panel, figures are based on Bank staff calculations. The figure for 2022/Q3 is the July-August average. 2. In the right panel, figures for 2022/Q3 are July-August averages. Sources: Cabinet Office; Ministry of Finance; Bank of Japan.
Extending access to financial services will only be possible on a large scale if banks can overcome the cost barriers which are a major obstacle to the wider provision of financial services. Therefore, I would like take this opportunity to reiterate my view that banks in Uganda must prioritise improving efficiency. Operating costs as a share of total assets are too high.