By Silvia Nyambura
Stanbic Bank has registered a 28% growth in revenues recording Ushs 334.4 billion for the first half of 2016. This is compared to Ushs 261.2 billion in the same period last year. Profitability grew by 57% to register Ushs 107.3 billion compared to Ushs 68 billion in half year 2015. This growth, according to the Bank’s CEO Patrick Mweheire was driven by non-interest revenue which is less sensitive to interest rates at a rate higher than net-interest revenue. Non-interest revenue was realized from guarantees, performance bonds, market gains on securities to mention but a few.
Addressing the media at a Press Conference held at The Kampala Serena Hotel this morning, Mweheire said, “We are very pleased with our performance and the resilience demonstrated by our diverse businesses in the first half of the year. The strength of our diversified business model with multiple revenue streams and the intrinsic operating leverage in the bank really came through with these results. The growth demonstrates that if you can listen to your customers, manage your risks and understand your operating environment, anything is achievable.
