Between January and June 2025, Stanbic Uganda Holdings Limited (SUHL) made a profit of Shs 278 billion, up 18% from in the same period last year. It also paid Shs 273 billion in taxes, a 37% increase from Shs 198 billion in 2024.
Francis Karuhanga, the CEO of Stanbic Uganda, said their success is not just about making money but also helping Uganda grow.
“The taxes we paid and the Ushs 5.8 trillion we processed for the Uganda Revenue Authority show how we support the country’s goals,” he said.
According to the half year financial results, Stanbic Bank Uganda, the group’s main subsidiary, saw growth in lending and deposits.
The chief executive of the bank, Mumba Kalifungwa , aid their strategic focus on innovation, customer-centric solutions, and disciplined risk management enabled them to grow lending and deposits significantly during the period.
“Our strong performance in the first half of 2025 was driven by significant growth across our core business units. Corporate and investment banking delivered a 17% increase in lending and a 52 per cent rise in deposits, while our Personal and private banking and business and commercial banking units also posted robust growth in both lending and deposits. This balanced momentum across key segments demonstrates the resilience and broad appeal of our products and services, enabling us to meet the diverse needs of Uganda’s economy,” he said.
Ronald Makata, the Chief Financial Officer, credited the success to careful management, with low costs and minimal loan losses.
“Our strong business model and smart financial choices helped us achieve a 27% return on equity,” he said.
Stanbic also supported local businesses by lending Shs 288 billion to small and medium enterprises, especially those led by youth and women, bringing its total SME loans to Ushs 968 billion.
As part of the Standard Bank Group, Africa’s largest bank by assets, Stanbic Uganda plans to keep leading the market and supporting Uganda’s economic progress.
