Stanbic Bank Uganda Limited

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.[4]

Stanbic Bank Uganda Limited
IndustryFinancial services
Founded1906; 116 years ago (1906)
HeadquartersKampala, Uganda
Key people
Anne Juuko[1]
managing director and chief executive officer
ProductsLoans, savings, investments, debit cards, credit cards, mortgages
RevenueIncrease Aftertax USh:269.3 billion (US$75.8 million) (2021)[2]
Total assetsShs8.713 trillion (US$2.452 billion) (December 2021)[2]
Number of employees
1,665 (2018)[3]


SBU is the largest commercial bank in the country, by assets.[5][6][7][8] As of 31 December 2021, the bank's total assets were valued at USh8.713 trillion (US$2.452 billion). At that time shareholders' equity was valued at USh1.483 trillion (US$417.5 million).[2] In June 2018, Fitch Rating Agency gave Stanbic Bank Uganda a AAA rating with a Stable outlook.[9]


SBU is listed on the Uganda Securities Exchange (USE), where it trades under the symbol SBU.[10] 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.[11]


The bank was founded in Uganda as the National Bank of India in 1906.[12] 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.[11][13]

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.[11][13] 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.[14]

In February 2002, Standard Bank acquired 90 percent shareholding in the Uganda Commercial Bank, a government-owned retail banking operation with 65 branches.[15] 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.[11] 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.[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, the ownership of SBU stock, was as depicted in the table below:[18]

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) 2.61
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 0.40
11 Others 12.80
Total 100.0


The chairman of the board is Japheth Katto. Anne Juuko is the managing director.[19]

Branch networkEdit

As of December 2017, SBU had a branch network of nearly 70 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 173 networked automated teller machines. Listed below were some of the branches of the bank:[18]

  1. Busia Branch: 1 Tororo Road, Tororo
  2. Iganga Branch: 1-3 Magumba Road, Iganga
  3. Jinja Branch: 2 Martin Road, Jinja
  4. Kamuli Branch: 2 Gabula Road, Kamuli
  5. Kapchorwa Branch: 20 Kitale Road, Kapchorwa
  6. Kotido Branch: 3A Moroto Road, Kotido
  7. Lugazi Branch: 29 Ntege Road, Lugazi
  8. Mbale Branch: 50/52 Republic Avenue, Mbale
  9. Moroto Branch: 27 Lira Road, Moroto
  10. Soroti Branch: 42 Gweri Road, Soroti
  11. Tororo Branch: 1 Block 5 Uhuru Drive, Tororo
  12. Aponye Mall Branch: 8 Burton Street, Aponye Mall, Kampala
  13. Kawempe Branch: 161 Bombo Road, Kawempe
  14. Kiboga Branch: 100 Block 634 Kilulumba, Kampala–Hoima Road Kiboga
  15. Kireka Branch: 319 Block 232 Kampala–Jinja Highway, Kireka
  16. Kyambogo Branch: Kyambogo University Campus, Kyambogo
  17. Luweero Branch: 440 Block 652 Kampala–Gulu Highway, Luweero
  18. Mityana Branch: 54 Block 425 Katakara Road, Mityana
  19. Mpigi Branch: Mpigi Town
  20. Mukono Branch: 37/39 Kampala–Jinja Highway, Mukono
  21. Mulago Branch: 2nd Floor, Mulago National Referral Hospital, Mulago Hill, Kampala
  22. Nakivubo Branch: 58 William Street, Kampala
  23. Nateete Branch: 643 Block 18 Kampala–Masaka Road, Nateete
  24. Wandegeya Branch: 220 Bombo Road, Wandegeya, Kampala[20]
  25. William Street Branch: 6 William Street, Kampala
  26. Bugoloobi Branch: Village Mall, Corner of Spring Road & Bandari Rise, Bugoloobi, Kampala
  27. Entebbe Main Branch: 15 Entebbe–Kampala Road, Entebbe
  28. Forest Mall Branch: 3A2 & 3A3 Lugogo Bypass Road, Lugogo, Kampala.
  29. Freedom City Branch: Freedom City Mall, 4010 Entebbe Road, Namasuba, Kampala
  30. Garden City Branch: 64-86 Yusuf Lule Road, Kampala
  31. Kabalagala Branch: 1188-1190 Embassy Plaza, Ggaba Road, Kabalagala, Kampala
  32. Corporate Branch: 18 Hannington Road, Kampala
  33. Lugogo Branch: Shop Number 5, 2-8 Lugogo Bypass Road, Lugogo, Kampala
  34. Makerere Branch: Senate Building, Makerere University Campus, Makerere Hill, Kampala
  35. Kampala Metro Branch: Social Security House, 4 Jinja Road, Kampala
  36. Nakasero Branch: Umoja Building, 20 Nakasero Road, Nakasero Hill, Kampala
  37. Nakawa Branch: M193/194 Industrial Area Road, Nakawa, Kampala
  38. Ntinda Branch: 3798 Block 216 Ntinda Trading Centre, Kampala
  39. Adjumani Branch: 9 Mangi Road, Adjumani
  40. Apac Branch: 18 Akokoro Road, Apac
  41. Arua Branch: 25 Avenue Road, Arua
  42. Gulu Branch: 2&4 Acholi Road, Gulu
  43. Kigumba Branch: 18 Kampala-Gulu Highway, Kigumba
  44. Kitgum Branch: 4/6 Philip Adonga Road, Kitgum
  45. Lira Branch: 2 Soroti Road, Lira
  46. Moyo Branch: 1 Kerere Crescent Road, Moyo
  47. Nebbi Branch: Arua Road, Nebbi Trading Centre
  48. Buliisa Branch: Buliisa–Paara Road, Buliisa
  49. Bundibugyo Branch: 4 Block A Bundibugyo Road, Bundibugyo Township
  50. Bwamiramira Branch: 18 Karuguza Road, Bwamiramira Trading Centre, Kibaale District
  51. Fort Portal Branch: 21 Lugard Road, Fort Portal
  52. Hoima Branch: 32 Main Street, Hoima[21]
  53. Ibanda Branch: 10-12 Kamwege Road, Ibanda
  54. Ishaka Branch: 44 Rukungiri Road, Ishaka[22][23]
  55. Kabale Branch: 150/152 Kabale Road, Kabale
  56. Kabwohe Branch: 19B, Kabwohe Road, Kabwohe
  57. Kalangala Branch: Kalangala Main Street, Kalangala Town
  58. Kasese Branch: 27/31 Stanley Street, Kasese
  59. Kihihi Branch: 63 Block 74 Kinkizi, Kihihi Town
  60. Kisoro Branch: M5 Block 29 Kisoro–Kabale Road, Kisoro Town
  61. Kyotera Branch: 32 Masaka Road, Kyotera
  62. Lyantonde Branch: 200 Block 76 Masaka–Mbarara Road, Lyantonde
  63. Masaka Branch: 4 Birch Avenue, Masaka
  64. Masindi Branch: 29/33 Tongue Street, Masindi
  65. Mbarara Branch: 1/3 Ntare Road, Mbarara
  66. Mubende Branch: 2 Block 13 Main Street, Mubende
  67. Ntungamo Branch: 33 Mbarara–Kabale Road, Ntungamo Township
  68. Rukungiri Branch: 123 Block 5 Kagunga, Rukungiri
  69. Bwera Customer Service Point: Saad Village, Mpondwe–Lubiriha Road, Bwera Town
  70. Kaboong Customer Service Point: 20 Kaabong Central West Road, Kaabong Trading Centre
  71. Kayunga Customer Service Point: 472 Block 123 Kayunga Road, Kayunga
  72. Kagadi Customer Service Point: Mugenyi Street, Kagadi
  73. Kumi Customer Service Point: 2 Ngora Road , Kumi
  74. Pakwach Customer Service Point: 94 Arua Road, Pakwach
  75. Kakira Customer Service Point: Kakira South Estate Road, Kakira
  76. Kinyara Customer Service Point: Kinyara Sugar Estate, Kinyara
  77. Mayuge Customer Service Point: Bukoba Road, Mayuge Town
  78. 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 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".[24]

See alsoEdit


  1. ^ Gachiri, John (6 January 2015). "Ugandan Finally Takes Over From Kenyan At Stanbic Uganda". Business Daily Africa (Nairobi). Retrieved 7 January 2015.
  2. ^ a b c Stanbic Uganda Holdings Limited (28 March 2022). "Stanbic Uganda Holdings Limited Annual Results For The Year Ended 31 December 2021" (PDF). Kampala, Uganda: Stanbic Uganda Holdings Limited. Retrieved 3 April 022.
  3. ^ "Audited Financial Statements for the year ended 31 December 2018" (PDF). Kampala: Stanbic Bank Uganda Limited. 13 March 2019. Retrieved 1 April 2019.
  4. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 16 December 2015.
  5. ^ Wesonga, Nelson (5 July 2016). "Stanbic, NC banks lower lending rates, each by a percentage point". Daily Monitor. Kampala. Retrieved 5 July 2016.
  6. ^ TRC (13 October 2015). "Interview with Patrick Mweheire, CEO of Stanbic Bank Uganda". The Report Company (TRC). Retrieved 9 August 2016.
  7. ^ Naibuzz (20 May 2016). "The 8 Biggest Banks In Uganda". Nairobi: Retrieved 9 August 2016.
  8. ^ Jonathan Adengo, and Anthony Wesaka (4 March 2016). "Banks merge branches to cut costs". Daily Monitor. Kampala. Retrieved 9 August 2016.
  9. ^ Martin Luther Oketch (18 June 2018). "Fitch Assigns Stanbic Bank Uganda Stable Outlook". Daily Monitor. Kampala. Retrieved 18 June 2018.
  10. ^ USE (22 April 2016). "Uganda Securities Exchange: Listed Securities". Kampala: Uganda Securities Exchange (USE). Retrieved 22 April 2016.
  11. ^ a b c d SBUL (22 April 2016). "Stanbic Bank Uganda Limited: Company Overview". Kampala: Stanbic Bank Uganda Limited (SBUL). Retrieved 22 April 2016.
  12. ^ Lubega, Henry (1 March 2015). "The first bank in Uganda". Daily Monitor. Kampala. Retrieved 9 August 2016.
  13. ^ a b c SBSA (22 April 2016). "Standard Bank of South Africa: Our history in Africa". Johannesburgh: Standard Bank of South Africa (SBSA). Archived from the original on 28 May 2008. Retrieved 22 April 2016.
  14. ^ Kasemiire, Christine (30 October 2017). "Stanbic Bank gets first bancassurance licence". Daily Monitor. Kampala. Retrieved 30 October 2017.
  15. ^ Business News (17 October 2001). "Uganda's largest bank for sale". BBC News. Retrieved 15 December 2016.
  16. ^ Herbling, David (16 April 2014). "Stanbic Bank Uganda raises dividend despite net profit drop". Business Daily Africa. Nairobi. Retrieved 15 December 2016.
  17. ^ stanbic, bank. "SBU changes name to include Holding".
  18. ^ a b Stanbic Bank Uganda (26 March 2018). "Audited Financial Statements for the year ended 31 December 2017" (PDF). Kampala: Stanbic Bank Uganda Limited. Retrieved 23 February 2019.
  19. ^ Daily Monitor (25 February 2020). "Stanbic appoints Anne Juuko as new CEO". Daily Monitor. Kampala. Retrieved 13 December 2020.
  20. ^ Google (23 February 2019). "Location of Wandegeya Branch, Statistic Bank Uganda" (Map). Google Maps. Google. Retrieved 23 February 2019.
  21. ^ Mugume, Paul (8 November 2016). "Stanbic Bank Opens New Branch in Hoima Ahead of Oil Production". Kampala: ChimpReports Uganda. Retrieved 23 February 2019.
  22. ^ Anthony Wesaka, Jonathan Adengo (4 March 2016). "Banks merge branches to cut costs". Daily Monitor. Kampala. Retrieved 22 February 2019.
  23. ^ Mugasha, Chris (3 April 2016). "Stanbic Bank closes Bushenyi branch". New Vision. Kampala. Retrieved 23 February 2019.
  24. ^ Muhamadi Matovu (30 June 2022). "Uganda: Stanbic Bank Attains Iso/IEC 27001 - 2013 Certification" (via Nile Post Uganda. Kampala, Uganda. Retrieved 1 July 2022.

External linksEdit