Stanbic Bank Uganda, under the leadership of Kenneth Mumba Kalifungwa as the Chief Executive Officer, has solidified its position as a superpower in the country’s booming financial sector, being crowned Uganda’s Best Bank and Best Investment Bank for 2025 at the Euromoney Awards for Excellence 2025.
This double recognition highlights a remarkable year of sustainable financial performance, groundbreaking digital innovation, and an unwavering commitment to driving inclusive economic growth across the country.
Stanbic Bank’s accolades were received by a team led by Sim Tshabala, the Standard Bank Group Chief Executive Officer (CEO), during the ceremony held in London.
Exemplary Performance in Banking Sector
In 2024, Stanbic Bank demonstrated an all-around strength that set a new benchmark for the Ugandan banking industry.
The bank reported an impressive 16.2% rise in profit after tax, reaching Shs478 billion (approximately USD133 million), alongside a formidable return on equity of 24.3%.
This financial prowess was complemented by exceptional operational efficiency, evidenced by a cost-to-income ratio of just 47.2%, and superior credit quality with a low credit loss ratio of 0.8%. This outstanding performance is rooted in a strategic enhancement of customer service.
Financial Inclusion
Stanbic Bank pioneered online account opening and significantly upgraded its digital platforms, resulting in an astounding 80% of all transactions now taking place outside the traditional banking hall.
Clients further benefit from a real-time feedback solution, pushing first-call resolution to an impressive 92.4%, a testament to the bank’s customer-centric approach.
The bank also strengthened its private banking and wealth management offerings with the introduction of the Stanbic Unit Trust through SBG Securities Uganda, responding to growing customer demand for portfolio diversification and enhanced returns.
Catalyst for Inclusive Growth
Beyond its core banking operations, Stanbic stands out for its profound commitment to national development, particularly through its support for Micro, Small, and Medium-sized Enterprises (MSMEs) and financial inclusion.
Through the acclaimed Stanbic Business Incubator, over 3,000 entrepreneurs, many of them women and youths, received targeted training, mentorship, and crucial access to markets.
This initiative alone has been instrumental in unlocking over USD20 million in financing for MSMEs, firmly cementing Stanbic’s role as a vital catalyst for inclusive economic growth.
This dedication directly aligns with Uganda’s national poverty alleviation programs and wealth creation initiatives like the Parish Development Model (PDM), Emyooga and the Uganda Women Entrepreneurship Programme (UWEP).
Uganda’s Investment Banking Powerhouse
Stanbic Bank’s exceptional performance also saw it retain the coveted title of Uganda’s Best Investment Bank for 2025. This recognition is a direct result of its ability to execute complex, high-value transactions and pioneer innovative financial solutions:
Pioneering Digital Lending
In a groundbreaking partnership with fintech firm Jumo, Stanbic provided Shs56.9 billion (USD15.9 million) in credit.
This innovative collaboration leverages a mobile platform to channel local currency funding directly to micro-businesses and previously unbanked individuals, significantly driving financial inclusion and enhancing fintech-driven lending in Uganda.
High-Value Corporate Lending
Stanbic Bank demonstrated its capacity to fulfil extensive financing requirements across diverse sectors. Notable corporate lending deals include a USD30 million loan to Crown Beverages Limited for modular expansion and a substantial Shs370 billion loan to MTN Uganda Limited for general corporate purposes.
UEDCL and EACOP Investments
Stanbic Bank is also a development partner for the government of Uganda after investing billions of shillings in the operationalisation of the Uganda Electricity Distribution Company Limited (UEDCL) following the transition from Umeme, and the East African Oil Pipeline (EACOP).
These transactions and many others highlight Stanbic’s leadership in corporate finance, supporting Uganda’s socio-economic transformation.
Leading Equity Capital Markets
The bank led a landmark secondary offering for MTN Uganda, setting a price of USh170 per share for over 1.57 billion shares, representing a 7.03% stake. This pivotal transaction not only enhanced market liquidity but also significantly broadened investor participation in Uganda’s capital markets.
These collective accomplishments firmly position Stanbic Bank Uganda as an undisputed leader in the nation’s financial landscape.
By combining financial strength with a relentless pursuit of innovation, a deep commitment to financial inclusion, and expertise in substantial corporate transactions, Stanbic Bank is not just winning awards; it is actively shaping and advancing Uganda’s economic future.