RESILIENT: Stanbic Uganda Holdings defies tough times; 2021 profits rise 11% to a record UGX269 billion   Profit-after-Tax for Stanbic Uganda Holdings Limited (SUHL) representing five subsidiaries rose 11% to UGX269billion from UGX242billion in 2020. SUHL’s anchor subsidiary, Stanbic Bank Uganda posted UGX275billion in profit after tax from UGX243billion in 2020, largely driven by growth in trading revenue. Lending by the bank grew to UGX 3.7 trillion from UGX 3.6 trillion in 2020 while customer deposits increased from UGX 5.4 trillion (2020) to UGX 5.7 trillion.

Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn UGX269billion from Ush.242billion in 2020, driven by robust growth in non-interest income earned by mostly Stanbic Bank Uganda Limited, its anchor subsidiary. Other subsidiaries of SUHL include SBG Securities Uganda Limited, Stanbic Business Incubator, Stanbic Properties Limited, and FlyHub Uganda; however, these are new companies still in their formative stages to support the bank serve its customers beyond offering traditional financial services. Stanbic Bank is Uganda’s largest bank by assets, deposits, income, lending and the most profitable of the 25 active banks….

by Muhereza Kyamutetera

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