Stanbic Bank 2024 financial performance

Damoni Kitabire, Chairman of Stanbic Bank Uganda; Mumba Kalifungwa, the newly appointed Chief Executive; Patrick Mweheire, Regional Chief Executive for East Africa at Standard Bank Group; and Francis Karuhanga, CEO of Stanbic Uganda Holdings Limited (SUHL), during Kalifungwa’s official unveiling. His appointment comes at a pivotal time for Stanbic—still the most profitable bank in Uganda, but facing slowing growth in core fundamentals like deposits and lending. Kalifungwa, credited with transforming Absa Uganda into a high-growth performer, now faces the challenge of reigniting Stanbic’s growth momentum and defending its leadership amid intensifying competition from both top-tier rivals and fast-charging mid-tier challengers.

Stanbic Bank Uganda at a Crossroads: Can Mumba Kalifungwa Reignite the Blue Spark of Yesteryears?

Stanbic Bank Uganda has for years stood tall as the country’s largest and most profitable commercial bank. From balance sheet dominance to steady profit leadership, the bank has long held the crown

May 16, 2025

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