Stanbic Bank Uganda Limited

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Stanbic Bank Uganda Limited
Public
Traded as Uganda Securities Exchange: SBU
Industry Financial services
Founded 1906
Headquarters Kampala, Uganda
Key people
 Patrick Mweheire[1]
managing director and chief executive officer
Products Loans, savings, investments, debit cards, credit cards, mortgages
Revenue Increase Aftertax UGX:150.8 billion (2015)[2]
Total assets UGX:3.729 trillion (2015)[3]
Number of employees
 1,879 (2014)[4]
Slogan "Moving Forward"
Website www.stanbicbank.co.ug

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.[5]

Overview

SBU is the largest commercial bank in the country, by assets and branch network.[6][non-primary source needed] As of 31 December 2015, its total assets were approximately UGX:3.729 trillion and its shareholders' equity was approximately UGX:544.5 billion.[3]

Group

SBU is listed on the Uganda Securities Exchange (USE), where it trades under the symbol SBU.[7] 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.[8]

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.[9][10]

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.[9][10]

In February 2002, Standard Bank acquired 90 percent shareholding in the Uganda Commercial Bank, a government-owned retail banking operation with 65 branches.[11] 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.[9] 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.[10][12]

Ownership

As of December 2014, the ownership of SBU shares was as depicted in the table below:[4]

Stanbic Bank Uganda Limited Stock Ownership
Rank Name of owner Percentage ownership
1 Stanbic Africa Holdings Limited 80.00
2 National Social Security Fund (Uganda) 2.05
3 BBH-Genesis Emerging Markets Opportunities Fund 1.01
4 Sudhir Ruparelia 0.65
5 BBH-Genesis Emerging Markets Opportunity Fund Limited 0.46
6 Central Bank of Kenya Pension Fund 0.45
7 Ibrahim Kironde Kabanda 0.40
8 Pohjola Bank Plc 0.37
9 SCB Mauritius Re Africa Opportunity Fund 0.35
10 Crane Bank Limited 0.30
11 Others 13.96
Total 100.0

Governance

Japheth Katto is chairman of the board. Patrick Mweheire is the managing director.[13]

Branch network

As of April 2014, 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:[14]

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2

See also

References

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External links

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