Stanbic Bank (Uganda) Limited
| Public | |
| Traded as | Uganda Securities Exchange: SBU |
| Industry | Financial services |
| Founded | 1906 |
| Headquarters | Kampala, Uganda |
|
Key people
|
Patrick Mweheire managing director and chief executive officer |
| Products | Loans, savings, investments, debit cards, credit cards, mortgages |
| Revenue |
 Aftertax UGX:150.8 billion (2015) |
| Total assets | UGX:4.5 trillion (US$1.3 billion) (June 2016) |
|
Number of employees
|
1,899 (2015) |
| Website | www |
Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.
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 billion (US$1.3 billion).
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.
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, , and financial adviser by the Capital Markets Authority, which licensed the USE in 1997.
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.
As of December 2015[update], the ownership of SBU shares was as depicted in the table below:
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