George Opio Okello Archives – CEO East Africa

Big Leap: How Absa’s UGX 1.3 Trillion New Assets and Deposits Acquisition Through Stanchart’s Wealth and Retail Business Will Rewrite its Growth Story

CEO East Africa MagazineThe Big StoryOctober 24, 2025October 31, 2025

Less than a year after Standard Chartered Bank announced plans to exit its Wealth and Retail Business (WRB) segment as part of a global restructuring strategy, the long-anticipated transaction has now materialized. Absa, just like many had projected, has stepped in as the acquirer, with the deal formally announced on 24 October, expected to transfer all Standard Chartered’s WRB clients, assets, and employees to Absa. It is one of the most significant realignments in Uganda’s banking sector in recent years, following Standard Chartered’s November 2024 declaration of intent to divest from retail operations to focus on its Corporate and Investment…

This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!

PEOPLE, MONEY & POWER: Uganda’s 45 Most Powerful and Influential People in Banking, 2019

Muhereza KyamuteteraThe Big StoryNovember 17, 2019January 15, 2023

The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…

This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!

Subtotal	UShs0
Shipping	UShs0
Tax	UShs0
Total	UShs0