The Insurance Regulatory Authority of Uganda (IRA) has published industry performance for the period April-June 2021 (Q2) with Bancassurance recording a 54% growth dominated by Stanbic Bank Uganda which consolidated its market-share to 21.2% from 19.1 between January and March. According to IRA, the insurance industry registered impressive growth in the first six months of 2021 on account of improved product uptake and interest generating a total of UGX600bn in gross premiums. Bancassurance (life assurance and other insurance products sold through banking institutions) contributed 8.2% of the industry’s total business in the first six months of the year. In 2020,…
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Stanbic Bank Uganda’s Maternal Health Campaign dubbed “Every Mother Counts” has received a big boost from Rotary International, Serve to Change Lives and other partners through a new programme. The multi-partner Maternal, and Child Health (MCH) programme is dubbed “saving mothers and children together” comes to reinforce the attainment of global maternal and child health goal at local levels. It will focus on five main areas including, empowering adolescent girls and young women, supporting antenatal care, delivering and postnatal care, enhancing capacity and motivation of MCH workers, enhancing advocacy through awareness creation for communities and infrastructure development/rehabilitation. Together, the partners…
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Stanbic Bank, Total Uganda and Roofings have announced a tripartite partnership to support more than 250 secondary schools to plant at least150, 000 fruit trees in a bid to redevelop Uganda’s receding forest cover. Under the tripartite, at least 250 secondary schools will collectively plant 110, 000 fruit trees in their respective school spaces which will ultimately support the children’s nutrition needs while conserving the environment. Employees of Stanbic Bank Uganda and Total Uganda will also collectively plant 40, 000 fruit trees making a total of 150,000 before the end of the 2021. According to data from Uganda’s Environment Ministry…
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The headline Stanbic Purchasing Managers’ Index (PMI) moved back above the 50.0 mark in August, posting 50.2 from 34.6 in July. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. The growth is attributed to the partial lifting of the 42-day COVID-19 lockdown in Uganda which helped spur a return to growth of both business activity and new orders in August, with companies confident of further growth over the coming year. Ronald Muyanja, the Head of Trading at Stanbic Bank Uganda said, “a return to growth in output and…
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Stanbic Bank Uganda has unveiled a special financial services package targeting members of the legal fraternity, climaxing the 4th annual law conference held this week in Kampala, on an exciting note. Sam Mwogeza, Stanbic Bank Uganda’s Head of Consumer and High Net Worth banking presided over the attractive financial services package that includes access to credit at preferential rates, unique insurance and investment offers. “This is a customized “lawyers’ financial services pack” from Stanbic bank to everyone in the legal fraternity; offering has something for everyone including interns, clerks, advocates, magistrates, senior legal advisors and judges,” Mwogeza said. Some of…
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Stanbic Bank Uganda has appointed, Ken Agutamba as its Manager, Reputation and Communications. In that role, he will be responsible for executing the bank’s corporate communications strategy and sponsorships, as well as implementing stakeholder engagement initiatives. Agutamba brings to the game more than 10 years of multi-sector communications experience that cuts across business journalism, strategic media relations, stakeholder engagement, communication, and knowledge management; gained from the banking, international development, and diplomacy sectors. Before joining Stanbic, he worked for the Palladium Group, an international advisory and management multinational, as Communication Manager. Ken’s Journalism career began in Western Uganda where he worked…
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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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Stanbic Bank Uganda, every year, holds the financial market event that focuses on the state of the economy, more so on the financial markets. Ronald Muyanja, the Head of Trading explains what the event is meant to achieve and gives the Uganda financial markets 2022 outlook Briefly tell us about this financial market event and why Stanbic Bank organizes it annually? The event today is a discussion with our clients, focused on the state of the Ugandan economy and more specifically the financial markets. We wanted to discuss and share views on where trends and outlook on foreign exchange and…
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Hon. Justice David Wangutusi of the Commercial Division of the High Court has ordered Stanbic Bank to pay over UGX230 million to an Iganga businessman, Mr Isanga Dauda, for illegally refusing to credit his account with a loan that the bank had approved. Justice Wangutusi, despite objections by Stanbic, ruled that the loan facility was withdrawn in total breach since the complainant (Isanga) did not do any act the loan agreement had prohibited. “…there was a valid contract, the plaintiff did his part as required by the facility letter and the defendant (bank) failed to honour her part by failing…
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Peace Kabunga is the Executive Director at Housing Finance Bank. She has held the position since 2018. At the same time, she is Head Mortgage & Finance Development, holding the position since 2017. Here, she is supposed to provide strategic and tactical direction to the Mortgage and Development Finance department to drive business growth, lead customer relationship management to enhance customer experience, manage credit risk as well as performance and development of the department employees. Before joining Housing Finance, Peace was Head Workplace Banking at Stanbic Bank Uganda from 2013 to 2017 Here, she was charged with leading a team…
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