Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.
Video Stanbic Bank Uganda Limited
Overview
SBU is the largest commercial bank in the country, by assets. As of 31 December 2015, its total assets were approximately UGX:3.729 trillion and its shareholders' equity was approximately UGX:544.8 billion. As of 30 June 2016, the bank's total assets were UGX:4.5 trillion (US$1.3 billion).
Maps Stanbic Bank Uganda Limited
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.
Ownership
As of December 2015, the ownership of SBU shares was as depicted in the table below:
Governance
Japheth Katto is chairman of the board. Patrick Mweheire is the managing director.
Branch network
As of November 2016, SBU had a branch network of over 100 branches in all four regions of the country. Its network was the largest of all commercial banks in Uganda. At that time, it maintained 193 networked automated teller machines. Listed below were some of the branches of the bank:
See also
- Standard Bank of South Africa
- Banking in Uganda
- Economy of Uganda
- List of banks in Uganda
- List of tallest buildings in Kampala
References
External links
- Stanbic Bank half-year profit hits Shs107 billion - 11 August 2016
- Stanbic's New Boss Keen To Raise Customer Satisfaction
- Uganda Securities Exchange
- Standard Bank Group Website
- Stanbic Bank Uganda Limited US$ 85,000,000 Syndicated Term Loan Facility
Source of article : Wikipedia
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