Commercial bank in Uganda
Stanbic Bank Uganda Limited (SBU) is acommercial bank inUganda and is licensed by theBank of Uganda , thecentral bank and national banking regulator.[ 4]
SBU is the largest commercial bank in the country, by assets.[ 5] [ 6] [ 7] [ 8] [ 2] Fitch Rating Agency gave Stanbic Bank Uganda a AAA rating with a Stable outlook.[ 9]
SBU is listed on theUganda Securities Exchange (USE), where it trades under the symbol SBU.[ 10] Internet banking , mobile money, SME lending, and debit and credit cards, among other products. SBU is a subsidiary of Stanbic Africa Holdings Limited , which is in turn owned byStandard Bank Group Limited .[ 11]
The bank was founded in Uganda as the National Bank of India in 1906.[ 12] Grindlays Bank . In 1991,Standard Bank bought theGrindlays Bank network in Africa. The new owners renamed the bank Stanbic Bank (Uganda) Limited.[ 11] [ 13]
Stanbic Bank (Uganda) Limited is licensed as amerchant banker ,stockbroker , andfinancial adviser by theCapital Markets Authority , which licensed the USE in 1997.[ 11] [ 13] bancassurance licence from theInsurance Regulatory Authority , authorizing Stanbic Bank to sell insurance products to its customers and the public.[ 14]
In February 2002, Standard Bank acquired 90 percent shareholding in theUganda Commercial Bank , a government-owned retail banking operation with 65 branches.[ 15] [ 11] government of Uganda divested its ownership in Stanbic Bank (Uganda) by listing its shares on the USE. Standard Bank also floated 10 percent of its shareholding at the same time, reducing their ownership to 80 percent.[ 13] [ 16]
On 19 February 2018, SBU informed its shareholders of the Board of Directors’ decision to re-organize the company’s corporate structure and operations through the formation of a group with a holding company to be called "Stanbic Uganda Holdings Limited" owning several subsidiaries engaged in different lines of businesses including a new banking subsidiary which effectively began on 28 November 2018.[ 17]
As of December 2017[update] stock , was as depicted in the table below:[ 18]
Stanbic bank, Gombe branch As of March 2025, thechairman of the board is Damoni Kitabire. The Chief Executive Officer is Kenneth Mumba Kalifungwa.[ 1]
As of December 2023, SBU had a branch network of nearly 81 branches and 10 customers service points in all four regions of the country. Its network was the largest of all commercial banks in Uganda. At that time, it maintained 178 networkedautomated teller machines . Listed below were some of the branches of the bank:[ 19]
Busia Branch: 1 Tororo Road,Busia Iganga Branch: 1-3 Magumba Road,Iganga Jinja Branch: 2 Martin Road,Jinja Kamuli Branch: 2 Gabula Road,Kamuli Kapchorwa Branch: 20 Kitale Road,Kapchorwa Kotido Branch: 3A Moroto Road,Kotido Lugazi Branch: 29 Ntege Road,Lugazi Mbale Branch: 50/52 Republic Avenue,Mbale Moroto Branch: 27 Lira Road,Moroto Soroti Branch: 42 Gweri Road,Soroti Tororo Branch: 1 Block 5 Uhuru Drive,Tororo Aponye Mall Branch: 8 Burton Street, Aponye Mall,Kampala Kawempe Branch: 161 Bombo Road,Kawempe Kiboga Branch: 100 Block 634 Kilulumba,Kampala–Hoima Road Kiboga Kireka Branch: 319 Block 232Kampala–Jinja Highway ,Kireka Kyambogo Branch:Kyambogo University Campus,Kyambogo Luweero Branch: 440 Block 652Kampala–Gulu Highway ,Luweero Mityana Branch: 54 Block 425 Katakara Road,Mityana Mpigi Branch:Mpigi Town Mukono Branch: 37/39Kampala–Jinja Highway ,Mukono Mulago Branch: 2nd Floor,Mulago National Referral Hospital ,Mulago Hill,Kampala Nakivubo Branch: 58 William Street, Kampala Nateete Branch: 643 Block 18Kampala–Masaka Road ,Nateete Wandegeya Branch: 220 Bombo Road,Wandegeya , Kampala[ 20] William Street Branch: 6 William Street, Kampala Bugoloobi Branch: Village Mall, Corner of Spring Road & Bandari Rise,Bugoloobi , Kampala Entebbe Main Branch: 15Entebbe–Kampala Road ,Entebbe Forest Mall Branch: 3A2 & 3A3 Lugogo Bypass Road,Lugogo , Kampala. Freedom City Branch: Freedom City Mall, 4010 Entebbe Road,Namasuba , Kampala Garden City Branch: 64-86 Yusuf Lule Road, Kampala Kabalagala Branch: 1188–1190 Embassy Plaza, Ggaba Road,Kabalagala , Kampala Corporate Branch: 18 Hannington Road, Kampala Lugogo Branch: Shop Number 5, 2-8 Lugogo Bypass Road, Lugogo, Kampala Makerere Branch: Senate Building,Makerere University Campus,Makerere Hill, Kampala Kampala Metro Branch: Social Security House, 4 Jinja Road, Kampala Nakasero Branch: Umoja Building, 20 Nakasero Road,Nakasero Hill, Kampala Nakawa Branch: M193/194 Industrial Area Road,Nakawa , Kampala Ntinda Branch: 3798 Block 216Ntinda Trading Centre, Kampala Adjumani Branch: 9 Mangi Road,Adjumani Apac Branch: 18 Akokoro Road,Apac Arua Branch: 25 Avenue Road,Arua Gulu Branch: 2&4 Acholi Road,Gulu Kigumba Branch: 18 Kampala-Gulu Highway,Kigumba Kitgum Branch: 4/6 Philip Adonga Road,Kitgum Lira Branch: 2 Soroti Road,Lira Moyo Branch: 1 Kerere Crescent Road,Moyo Nebbi Branch: Arua Road,Nebbi Trading Centre Buliisa Branch: Buliisa–Paara Road,Buliisa Bundibugyo Branch: 4 Block A Bundibugyo Road,Bundibugyo Township Bwamiramira Branch: 18 Karuguza Road,Bwamiramira Trading Centre,Kibaale District Fort Portal Branch: 21 Lugard Road,Fort Portal Hoima Branch: 32 Main Street,Hoima [ 21] Ibanda Branch: 10-12 Kamwege Road,Ibanda Ishaka Branch: 44 Rukungiri Road,Ishaka [ 22] [ 23] Kabale Branch: 150/152 Kabale Road,Kabale Kabwohe Branch: 19B, Kabwohe Road,Kabwohe Kalangala Branch: Kalangala Main Street,Kalangala Town Kasese Branch: 27/31 Stanley Street,Kasese Kihihi Branch: 63 Block 74 Kinkizi,Kihihi Town Kisoro Branch: M5 Block 29 Kisoro–Kabale Road,Kisoro Town Kyotera Branch: 32 Masaka Road,Kyotera Lyantonde Branch: 200 Block 76Masaka–Mbarara Road ,Lyantonde Masaka Branch: 4 Birch Avenue,Masaka Masindi Branch: 29/33 Tongue Street,Masindi Mbarara Branch: 1/3 Ntare Road,Mbarara Mubende Branch: 2 Block 13 Main Street,Mubende Ntungamo Branch: 33 Mbarara–Kabale Road,Ntungamo Township Rukungiri Branch: 123 Block 5 Kagunga,Rukungiri Bwera Customer Service Point: Saad Village, Mpondwe–Lubiriha Road,Bwera Town Kaboong Customer Service Point: 20 Kaabong Central West Road,Kaabong Trading Centre Kayunga Customer Service Point: 472 Block 123 Kayunga Road,Kayunga Kagadi Customer Service Point: Mugenyi Street,Kagadi Kumi Customer Service Point: 2 Ngora Road ,Kumi Pakwach Customer Service Point: 94 Arua Road,Pakwach Kakira Customer Service Point: Kakira South Estate Road,Kakira Kinyara Customer Service Point:Kinyara Sugar Estate , Kinyara Mayuge Customer Service Point: Bukoba Road,Mayuge Town Wobulenzi Customer Service Point: 59 Block 159 Bulemezi,Kampala–Gulu Highway ,Wobulenzi Trading Centre. In June 2022, Stanbic Bank Uganda became the first commercial bank in the country, to be awarded theISO/IEC 27001:2013 Certification , by theBritish Standards Institution . The certification is in recognition of the bank'sInformation Security Management Systems "compliance with global standards".[ 24]
In May 2024, Stanbic Bank Uganda launched a brand new card reload feature that will allow all its customers holding prepaid cards to top up their card balances using its pre-existing service FlexiPay, by inserting the merchant code "Card" and providing client ID behind the card.
^a b SoftPower (27 March 2025)."Stanbic Bank Appoints Paul Muganwa As Executive Director" .SoftPower Uganda . Kampala, Uganda. Retrieved27 March 2025 . ^a b c Paul Murungi (24 March 2025)."Stanbic Uganda Posts Record UGX 478 Billion Profit In 2024, Assets Cross UGX 10 Trillion Mark" .CEO Magazine Uganda . Kampala, Uganda. Retrieved27 March 2025 . ^ SBUH (27 March 2024)."Stanbic Uganda Investor Relations: Key Figures : Employees" .Stanbic Uganda Holdings (SBUH) . Kampala, Uganda. Retrieved27 March 2024 . ^ BOU (31 March 2023)."List of Licensed Commercial Banks As At 31 March 2023" .Bank of Uganda (BOU). Retrieved27 March 2024 . ^ Nelson Wesonga (5 July 2016)."Stanbic, NC banks lower lending rates, each by a percentage point" .Daily Monitor . Retrieved5 July 2016 . ^ TRC (13 October 2015)."Interview with Patrick Mweheire, CEO of Stanbic Bank Uganda" .The Report Company (TRC) . Retrieved9 August 2016 . ^ Naibuzz (20 May 2016)."The 8 Biggest Banks In Uganda" .Naibuzz.com . Nairobi, Kenya. Retrieved9 August 2016 . ^ Jonathan Adengo and Anthony Wesaka (4 March 2016)."Banks merge branches to cut costs" .Daily Monitor . Retrieved9 August 2016 . ^ Martin Luther Oketch (18 June 2018)."Fitch Assigns Stanbic Bank Uganda Stable Outlook" .Daily Monitor . Retrieved18 June 2018 . ^ USE (22 April 2016)."Uganda Securities Exchange: Listed Securities" . Kampala:Uganda Securities Exchange (USE). Retrieved22 April 2016 . ^a b c d SBUL (22 April 2016)."Stanbic Bank Uganda Limited: Company Overview" .Stanbic Bank Uganda Limited (SBUL) . Kampala, Uganda. Retrieved22 April 2016 . ^ Henry Lubega (1 March 2015)."The first bank in Uganda" .Daily Monitor . Retrieved9 August 2016 . ^a b c SBSA (22 April 2016)."Standard Bank of South Africa: Our history in Africa" . Johannesburg:Standard Bank of South Africa (SBSA). Archived fromthe original on 28 May 2008. Retrieved22 April 2016 . ^ Kasemiire, Christine (30 October 2017)."Stanbic Bank gets first bancassurance licence" .Daily Monitor . Retrieved30 October 2017 . ^ BBC (17 October 2001)."Uganda's largest bank for sale" .British Broadcasting Corporation . Retrieved3 July 2023 . ^ Herbling, David (16 April 2014)."Stanbic Bank Uganda raises dividend despite net profit drop" .Business Daily Africa . Retrieved15 December 2016 . ^ Dorothy Nakaweesi (4 December 2018)."Stanbic Bank becomes holding company" .Daily Monitor . Retrieved3 July 2023 . ^ Stanbic Bank Uganda (26 March 2018)."Audited Financial Statements for the year ended 31 December 2017" (PDF) . Kampala: Stanbic Bank Uganda Limited. Retrieved23 February 2019 . ^ Martin Luther Oketch (26 March 2024)."Stanbic Uganda posts record Shs412 billion profits" .Daily Monitor . Retrieved27 March 2024 . ^ "Location of Wandegeya Branch, Statistic Bank Uganda" (Map).Google Maps . Retrieved23 February 2019 .^ Mugume, Paul (8 November 2016)."Stanbic Bank Opens New Branch in Hoima Ahead of Oil Production" . Kampala: ChimpReports Uganda. Retrieved23 February 2019 . ^ Anthony Wesaka, Jonathan Adengo (4 March 2016)."Banks merge branches to cut costs" .Daily Monitor . Retrieved22 February 2019 . ^ Mugasha, Chris (3 April 2016)."Stanbic Bank closes Bushenyi branch" .New Vision . Retrieved23 February 2019 . ^ Muhamadi Matovu (30 June 2022)."Uganda: Stanbic Bank Attains Iso/IEC 27001 – 2013 Certification" (viaAllAfrica.com ) .Nile Post Uganda . Kampala, Uganda. Retrieved1 July 2022 .
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Aftertax USh:478 billion (US$131.104 million) (2024)[2]
