Browsing by Author "Kitakule, Billy"

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    Internal Audit Function and Financial Performance of Parastatals in Uganda: A Case Study of National Water and Sewerage Corporation main Branch, Kampala
    (Kampala International University, College of Economics and Management., 2019-10) Kitakule, Billy
    At the micro level, profit is the essential prerequisite of a competitive banking institution and the cheapest source of funds. It is not merely a result, but also a necessity for successful banking in a period of growing competition on financial markets. Hence the basic aim of every bank management is to maximize profit, as an essential requirement for conducting business. At the macro level, a sound and profitable banking sector is better able to withstand negative shocks and contribute to the stability of the financial system. Bank profits provide an important source of equity especially if re-invested into the business. This should lead to safe banks, and as such high profits could promote financial stability.