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INTERVIEW: Patrick Mweheire tells the facts behind Stanbic’s record UGX259bn (USD67.1 mn) in profit. Stanbic Uganda Holdings Limited, have announced their 2019 financial results, declaring a 20% growth in net profit, from UGX215 billion in 2018 to a record UGX259 billion in 2019. This was on the back of a 20% year-on-year growth in revenue to exceed UGX 800 billion. This was on the back of a 14% growth in lending from UGX2.5 trillion to UGX2.8 trillion. In this interview, Patrick Mweheire, the Chief Executive Office for both Stanbic Uganda Holdings and Stanbic Bank Uganda in 2019, in whose reign the bank’s size and profitability grew from UGX3.5 trillion to UGX6.6 trillion and UGX135 billion to UGX259 billion respectively, gives key insights about the 2019 performance.

Patrick Mweheire, the Chief Executive Office for both Stanbic Uganda Holdings and Stanbic Bank Uganda in 2019, in whose reign the bank’s size and profitability grew from UGX3.5 trillion to UGX6.6 trillion and UGX135 billion to UGX259 billion respectively, gives key insights about the 2019 performance.

Please mention a few key highlights for Stanbic Bank in 2019? We delivered another great performance and were able to improve on all our key performance goals. We grew our deposits by 21% as more customers trusted us with their money and our loans & advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing, agriculture and personal lending – where we provided more than 40% of new lending. Our revenues grew 20% year-on-year to exceed UGX 800 billion and were well-diversified between lending and non-lending revenue. As…

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