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Stanbic Bank (Uganda) Limited

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Title: Stanbic Bank (Uganda) Limited  
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Stanbic Bank (Uganda) Limited

Stanbic Bank (Uganda) Limited
Type Public
Traded as USE: SBU
Industry Financial Services
Founded 1906
Headquarters Kampala, Uganda
Key people Philip Odera
Managing Director
Products Loans, savings, investments, debit cards, credit cards, mortgages
Revenue Increase Aftertax US$51.2 million (UGX:130.73 billion) (2012)[1]
Total assets US$1.2+ billion (UGX:3.09 trillion) (2012)
Employees 1,859 (2012)[2]
Website Homepage

Stanbic Bank (Uganda) Limited (SBU) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.[3]


The bank is the largest commercial bank in the country, by assets, with an estimated asset valuation of over US$1.2 billion (UGX:3.09 trillion), accounting for approximately 20% of the total bank assets in Uganda, as of December 2012. At that time shareholders' equity was valued at approximately US$157 million (UGX:401 billion).[4] At that time, SBU also had the largest branch network in the country, accounting for about 18% of the bank branches in Uganda.[5] According to the bank's unaudited mid-year financial statement, as of 30 June 2013, total assets were valued at US$1.159 billion (UGX:2.951 trillion), with shareholders' equity of approximately US$153.4 million (UGX:390.5 billion).[6]


Stanbic Bank (Uganda) Limited is subsidiary of the Standard Bank Group, an International bank with headquarters in Johannesburg, South Africa with branches in 18 African countries and affiliates in 21 other countries outside Africa. Standard Bank employs over 40,000 individuals worldwide, serving customers through more than 1,000 points of service. Its asset base is in excess of US$174 billion. Stanbic Bank (Uganda) Limited is listed on the Uganda Securities Exchange (USE), where it trades under the symbol SBU. As of February 2009, it is one of the few Ugandan commercial banks with Internet banking availability.


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 Uganda Securities Exchange in 1997.

In February 2002, Standard Bank acquired 90% shareholding in Uganda Commercial Bank, a government-owned retail banking operation with sixty-five branches.[7] 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.[8] In November 2005, the Government of Uganda divested its ownership in Stanbic Bank (Uganda) by listing its shares on the Uganda Securities Exchange. Standard Bank also floated 10% of its shareholding at the same time, reducing their ownership to 80%.


As of December 2012, the ownership of Stanbic Bank (Uganda) Limited shares was as depicted in the table below:[9]

Stanbic Bank (Uganda) Limited Stock Ownership
Rank Name of owner Percentage ownership
1 Stanbic Africa Holdings Limited 80.0
2 HSBC - Arisaig Africa Fund Limited 3.08
3 National Social Security Fund (Uganda) 1.87
4 Sudhir Ruparelia 0.64
5 Central Bank of Kenya Pension Fund 0.40
6 Ibrahim Kironde Kabanda 0.40
7 Crane Bank Limited 0.30
8 Duet Africa Opportunities Fund 0.19
9 Kenya Airways Staff Provident Fund 0.17
10 Duet Victoire Africa Index II 0.15
11 Others 12.8
Total 100.0

Management team

Hannington Karuhanga is Chairman of the Board. Philip Odera is the Managing Director.[10]

Branch network

As of August 2013, Stanbic Bank Uganda has a branch network of over 100 branches in all four regions of the country. Its branch network is the largest of all commercial banks in Uganda. At that time, it maintained 193 networked ATMs. Listed below are some of the branches of the bank:[11]

  1. Abim Branch – Abim
  2. Adjumani Branch – Adjumani
  3. Apac Branch – Apac
  4. Arua Branch – Arua
  5. Buliisa Branch – Buliisa
  6. Bundibugyo Branch Bundibugyo
  7. Bushenyi Branch – Bushenyi
  8. Busia Branch – Busia
  9. Bwamiramira Branch - Bwamiramira, Kibale District
  10. Bwera Branch - Bwera, Kasese District
  11. City Branch - Crested Towers, Kampala Main Branch
  12. Dokolo Branch - Dokolo
  13. Entebbe Airport Branch - Entebbe International Airport
  14. Entebbe Main Branch - Entebbe
  15. Forest Mall Branch - Forest Mall, Lugogo Bypass, Kampala
  16. Fort Portal Branch – Fort Portal
  17. Garden City Branch - Garden City Mall, Kampala
  18. Gulu Branch – Gulu
  19. Hoima Branch - Hoima
  20. Ibanda Branch - Ibanda
  21. Iganga Branch - Iganga
  22. Inland Revenue Branch - Kampala
  23. IPS Building Branch - Kampala
  24. Isingiro Branch - Isingiro
  25. Ishaka Branch - Ishaka, Bushenyi District
  26. Jinja Branch - Jinja
  27. Kaabong Branch - Kaabong
  28. Kalangala Branch - Kalangala
  29. Kabale Branch - Kabale
  30. Kabwohe Branch - Kabwohe, Bushenyi District
  31. Kagadi Branch - Kagadi
  32. Kakira Branch - Kakira
  33. Kamuli Branch - Kamuli
  34. Kapchorwa Branch - Kapchorwa
  35. Kasese Branch - Kasese
  36. Katwe Branch - Katwe, Kampala
  37. Kayunga Branch - Kayunga
  38. Kiboga Branch - Kiboga
  39. Kigumba Branch - Kigumba, Masindi District
  40. Kihihi Branch - Kihihi, Kanungu District
  41. Kinyara Branch - Kinyara, Masindi District
  42. Kireka Branch - Kireka, Kira Municipality
  43. Kisoro Branch - Kisoro
  44. Kitgum Branch - Kitgum
  45. Koboko Branch - Koboko
  46. Kotido Branch - Kotido
  47. Kumi Branch - Kumi
  48. Kyambogo Branch - Kyambogo, Kampala
  49. Kyenjojo Branch - Kyenjojo
  50. Kyotera Branch - Kyotera
  51. Lira Branch - Lira
  52. Lugazi Branch - Lugazi
  53. Lugogo Branch - Forest Mall, Kampala
  54. Luweero Branch - Luweero
  55. Lyantonde Branch - Lyantonde
  56. Magoba Branch - Nakivubo, Kampala
  57. Malaba Branch - Malaba
  58. Makerere University Branch - Makerere University
  59. Masaka Branch - Masaka
  60. Masindi Branch - Masindi
  61. Mayuge Branch - Mayuge
  62. Mbale Branch - Mbale
  63. Mbarara Branch - Mbarara
  64. Mityana Branch - Mityana
  65. Moroto Branch - Moroto
  66. Moyo Branch - Moyo
  67. Mpigi Branch - Mpigi
  68. Mubende Branch - Mubende
  69. Mukono Branch - Mukono
  70. Mulago Branch - Mulago
  71. Mutukula Branch - Mutukula
  72. Nakasero Branch - Nakasero Road, Kampala
  73. Nakawa Branch - Nakawa
  74. Nakivubo Branch - Nakivubo, Kampala
  75. Nateete Branch - Nateete, Kampala
  76. Nebbi Branch - Nebbi
  77. Ntagule Plaza Branch - Ben Kiwanuka Street, Kampala
  78. Ntinda Branch - Ntinda, Kampala
  79. Ntungamo Branch - Ntungamo
  80. Oyam Branch - Oyam
  81. Pader Branch - Pader
  82. Pallisa Branch - Pallisa
  83. Pakwach Branch - Pakwach
  84. Rukungiri Branch - Rukungiri
  85. Rushere Branch - Rushere
  86. Sembabule Branch - Sembabule
  87. Soroti Branch - Soroti
  88. Sironko Branch - Sironko
  89. Tororo Branch - Tororo
  90. Wandegeya Branch - Wandegeya, Kampala
  91. William Street Branch - William Street, Kampala
  92. Wobulenzi Branch - Wobulenzi
  93. Yumbe Branch - Yumbe

External links

  • Website of Stanbic Bank (Uganda) Limited
  • List of banks in Uganda
  • Uganda Securities Exchange
  • Standard Bank Group Website
  • List of Stanbic Bank Branches in Uganda
  • Stanbic Uganda Makes Shs 121 Billion Aftertax Profit In 2011

See also


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