Standard Bank Group has appointed Andrew Mashanda as the Head, Business and Commercial Banking (BCB), Africa Regions and Offshore, effective April 2025. In this role, Mashanda will lead the Group’s…
The Standard Bank Group has named Francis Karuhanga as the new Chief Executive for Stanbic Uganda Holdings (SUHL), the listed entity under which Stanbic Bank, Uganda’s largest bank is operated. SUHL is also the holding entity for the Group’s four other subsidiaries—Stanbic Properties Limited, SBG Securities, Stanbic Business Incubator, and FlyHub. Francis Karuhanga replaces Andrew Mashanda, who according to Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, will be taking on a new role within the Group—after December 31, 2023. “It is worth noting that Mr. Karuhanga has accepted to leave his current role as Group…
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After three years at the helm of Stanbic Uganda Holdings Limited (SUHL), Andrew Mashanda is set to leave the Chief Executive role, CEO East Africa Magazine can exclusively reveal. He will be taking up a yet-to-be-specified role within the Standard Bank Group, effective January 2024, according to our sources. Listed on the Uganda Securities Exchange, SUHL is Uganda’s largest financial and financial technology conglomerate. It is the mother company of Stanbic Bank—Uganda’s largest commercial bank, as well as four other subsidiaries⏤ Stanbic Properties, Stanbic Business Incubator, SBG Securities, and FlyHub. Mashanda’s three-year term at the helm of SUHL will come…
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The bank which is the biggest lender with 21% of the market share, in 2020 restructured UGX800 billion of loans, giving room to clients to get back on their feet. Thanks to this stitch-in-time, coupled with the consistent matching of interest rates with the Central Bank Rate enabled customers to regain stamina and by 2021 the value of restructured loans was reduced to UGX197 billion. By the end of 2022, this was further brought down to just UGX 14.5 billion. Bad loans in the same pool were just UGX 26 billion. It is therefore no surprise that the bank saw…
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Stanbic Holdings Uganda Limited has released its performance for 2022, reporting record-breaking growth across all parameters. SUHL is part of the Standard Bank Group, Africa’s largest Bank and is comprised of 5 subsidiaries which include: Stanbic Bank Uganda Limited, the leading commercial bank in Uganda; Stanbic Properties Limited, a real-estate company; SBG Securities Uganda Limited, an investment and brokerage firm; Stanbic Business Incubator Limited, an enterprise development institution and FlyHub Uganda Limited, technologies and innovations company. SHUL reported that profit after tax went up 33% to UGX357.4 billion from UGX269.3 billion in 2021. Assets surged 3.9% from UGX8.7 trillion to UGX9.1…
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In spite of an unpredictable operating environment characterized by global price instability and a tightening of monetary policy by Bank of Uganda to curb imported inflationary pressures, Stanbic Uganda Holdings Limited (SUHL) reported a half year profit-after-tax of UGX162 billion ending June 30, 2022. This is up from UGX158 billion recorded during the same period last year, indicating a 4.7% improvement. Speaking during presentation of the SUHL 2022 half-year results, the Chief Executive, Andrew Mashanda, said, “our performance was driven largely by our anchor subsidiary, Stanbic Bank Uganda Limited. Our new subsidiaries are continuing to deliver green shoots of hope…
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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….
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A new real estate sector report compiled by Stanbic Properties Uganda Limited (SPL), a subsidiary of Stanbic Uganda Holdings Limited, indicates that average occupancy from surveyed buildings was recorded at 89% for Grade A, 83% for Grade B and 74% for Grade C buildings. The report, compiled as at the end of December last year, says that the prevailing median rents were recorded at US$15, US$11 and US$8/m² /month for Grade A, B and C buildings respectively exclusive of service charge. Released on February 9, 2022 at a press conference held in Kampala, the report says, market evidence indicated more…
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Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has today released its H1 2021 results, reporting powerful performance across all business fundamentals, compared to the same period in 2020. According to results released, today, Friday, August 6, 2021, customer deposits increased to UGX5.7 trillion in June 2021 compared to UGX5.2 trillion in June 2020, indicating a 9.5% growth. Assets also grew by 9.8% driven by an increase in loans and advances amounting to UGX 3.8 trillion compared to UGX 3.4 trillion in June 2020. As a result, SUHL earned UGX154.9 billion in net profit representing an…
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What are main highlights in Stanbic Bank’s performance in 2020? Stanbic Bank’s performance has been commendable despite a difficult year riddled with challenges brought on by the pandemic. The Bank has shown resilience and sustained momentum as it executed on its strategy. Among the key highlights, we saw customer deposits grow from UGX 4.7 trillion to UGX 5.5 trillion, which further supported new credit to key sectors in much need of support especially during the peak of the pandemic. Net loans and advances increased by 26.8% year on year from UGX 2.9 trillion to UGX 3.6 trillion as more clients…
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