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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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Most borrowers tend to hide away from their banks at the very first sign of trouble. And as COVID-19 related business complications begin to make landfall for many businesses in Uganda in form of canceled bookings and orders, delayed deliveries, delayed payments, low demand etc., cash, the life-blood of every business will or has already started to dry up. If you have an existing credit facility with your bankers, there is an increasing likelihood that you will begin to default and the banks will start calling. If you do not have any existing facility chances are very high that you…
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Please mention a few key highlights for Stanbic Bank in 2019? We delivered another great performance and were able to improve on all our key performance goals. We grew our deposits by 21% as more customers trusted us with their money and our loans & advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing, agriculture and personal lending – where we provided more than 40% of new lending. Our revenues grew 20% year-on-year to exceed UGX 800 billion and were well-diversified between lending and non-lending revenue. As…
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Shareholders of Stanbic Uganda Holdings Limited will walk away 13.2% richer than last year, following the board’s recommendation of UGX2.15 per share dividend for 2019, up from the UGX1.9 paid for 2018. This follows what Patrick Mweheire, the Chief Executive of Stanbic Uganda Holdings Limited, called “another great performance” that saw the bank “improve on all our key performance goals.” “We grew our deposits by 21% as more customers trusted us with their money and our loans and advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing,…
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Patrick Mweheire, the Stanbic Bank Uganda, Chief Executive Officer will be leaving his job for a yet to be named regional role within the Standard Bank Group, when his contract expires at the end of this year, CEO East Africa Magazine has confirmed from various sources within the banking industry in Uganda and in Nairobi. We also understand that the race to replace him is in advanced stages with three contenders for the job being Sam Mwogeza; the bank’s current Chief Finance Officer, Kevin Wingfield; the current Head, Personal and Business Banking as well as Anne Juuko, a Ugandan working…
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