Stanbic Bank Uganda Limited


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

Overview

SBU is the largest commercial bank in the country, by assets. As of 31 December 2019, the bank's total assets were valued at USh6.65 trillion. At that time shareholders' equity was valued at USh1.078 trillion. 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, 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 Limited.
Stanbic Bank 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 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 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:
RankName of ownerPercentage ownership
1Stanbic Africa Holdings Limited80.00
2National Social Security Fund 2.61
3Duet Africa Opportunities Master Fund0.99
4Kuwait Investment Authority0.75
5Sudhir Ruparelia0.65
6SBC Mauritius Re Africa Opportunity Fund LP0.48
7Central Bank of Kenya Pension Fund0.45
8Frontura Global Frontier Fund LLC0.45
9Bank of Uganda Defined Benefits Scheme0.42
10Ibrahim Kironde Kabanda0.40
11Others12.80
Total100.0

Governance

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

Branch network

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:
  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 Ntenge 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 Road, Kireka
  16. Kyambogo Branch: Kyambogo University Campus, Kyambogo
  17. Luweero Branch: 440 Block 652 Kampala-Gulu Highway, Luweero
  18. Mityana Branch: 54 Block 425 Kaakara Road, Mityana
  19. Mpigi Branch: Mpigi Town
  20. Mukono Branch: 37/39 Kampala-Jinja Road, 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
  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 Kitante 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
  53. Ibanda Branch: 10-12 Kamwege Road, Ibanda
  54. Ishaka Branch: 44 Rukungiri Road, Ishaka
  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.