Stanbic Bank Uganda

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the central bank and national banking regulator.

Overview SBU is the largest commercial bank in the country, by assets. As of 31 December 2024, the bank's total assets were valued at USh10.4 trillion (US$2.852 billion). In calendar year 2024, the bank made an after-tax profit of USh478 billion (US$131.104 million). In June 2018, Fitch Rating Agency gave Stanbic Bank Uganda a AAA rating with a Stable outlook.

Group SBU is listed on the Uganda Securities Exchange (USE), where it trades under the symbol SBU. It offers a range of banking products including 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 by Standard Bank Group Limited.

History The bank was founded in Uganda as the National Bank of India in 1906. After several name changes, it became Grindlays Bank. In 1991, Standard Bank bought the Grindlays Bank network in Africa. The new owners renamed the bank Stanbic Bank (Uganda) Limited.

Stanbic Bank (Uganda) Limited is licensed as a merchant banker, stockbroker, and financial adviser by the Capital Markets Authority, which licensed the USE in 1997. In 2017 the bank was awarded a bancassurance licence from the Insurance Regulatory Authority, authorizing Stanbic Bank to sell insurance products to its customers and the public.

In February 2002, Standard Bank acquired 90 percent shareholding in the Uganda Commercial Bank, a government-owned retail banking operation with 65 branches. The new owners merged their new acquisition with their existing Stanbic Bank (Uganda) Limited to form Uganda's largest commercial bank by assets and branch network. In November 2005, the 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.

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.

Ownership , the ownership of SBU stock, was as depicted in the table below:

+ Stanbic Bank Uganda Limited Stock OwnershipRank Name of ownerPercentage ownership 1 Stanbic Africa Holdings Limited 80.00 2 National Social Security Fund (Uganda) 2.61 3 Duet Africa Opportunities Master Fund 0.99 4 Kuwait Investment Authority 0.75 5 Sudhir Ruparelia 0.65 6 SBC Mauritius Re Africa Opportunity Fund LP 0.48 7 Central Bank of Kenya Pension Fund 0.45 8 Frontura Global Frontier Fund LLC 0.45 9 Bank of Uganda Defined Benefits Scheme 0.42 10 Ibrahim Kironde Kabanda 0.4011 Others 12.80 Total100.0

Governance As of March 2025, the chairman of the board is Damoni Kitabire. The Chief Executive Officer is Kenneth Mumba Kalifungwa.

Branch network 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 networked automated teller machines. Listed below were some of the branches of the bank:

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 232 Kampala–Jinja Highway, Kireka Kyambogo Branch: Kyambogo University Campus, Kyambogo Luweero Branch: 440 Block 652 Kampala–Gulu Highway, Luweero Mityana Branch: 54 Block 425 Katakara Road, Mityana Mpigi Branch: Mpigi Town Mukono Branch: 37/39 Kampala–Jinja Highway, Mukono Mulago Branch: 2nd Floor, Mulago National Referral Hospital, Mulago Hill, Kampala Nakivubo Branch: 58 William Street, Kampala Nateete Branch: 643 Block 18 Kampala–Masaka Road, Nateete Wandegeya Branch: 220 Bombo Road, Wandegeya, Kampala William Street Branch: 6 William Street, Kampala Bugoloobi Branch: Village Mall, Corner of Spring Road & Bandari Rise, Bugoloobi, Kampala Entebbe Main Branch: 15 Entebbe–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 216 Ntinda 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 Ibanda Branch: 10-12 Kamwege Road, Ibanda Ishaka Branch: 44 Rukungiri Road, Ishaka 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 76 Masaka–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.

Certification In June 2022, Stanbic Bank Uganda became the first commercial bank in the country, to be awarded the ISO/IEC 27001:2013 Certification, by the British Standards Institution. The certification is in recognition of the bank's Information Security Management Systems "compliance with global standards".

Evolving Features 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.

Stanbic Bank Uganda

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