Stanbic Uganda Holdings Posts Record UGX 478 Billion Profit as Assets Cross UGX 10 Trillion

Stanbic Uganda Holdings posted a record profit after tax of UGX 478 billion for the full year 2024, a 16.2% increase on the prior year, and its consolidated balance sheet passed the UGX 10 trillion threshold for the first time.

Total revenue for the year reached UGX 1.3 trillion, up about 8.6% year-on-year, the bank disclosed at the time of publishing its annual results. Stanbic's share of the loan market was 19.5%.

DEPOSITS, LOANS AND COSTS

Customer deposits grew 12.2% over the year to UGX 7.1 trillion. Loans and advances rose 3.5% over the period, while the non-performing loan ratio fell to 1.5% from 2.6%.

The cost-to-income ratio improved to 47.2% from 48.9%.

OWNERSHIP AND OUTLOOK

Stanbic Uganda is listed on the Uganda Securities Exchange and is majority-owned by Standard Bank Group, the Johannesburg-headquartered pan-African financial services group.

Management indicated at the results presentation that the bank intends to build on the record 2024 performance by sustaining its focus on sustainable growth and disciplined risk management, with the continued expansion of digital banking services identified as a strategic priority.