• Latest

Innovative lending schemes earn Stanbic Uganda Ushs412 billion in Profit After Tax

March 25, 2024

1,300 Candidates Battle for Just 31 Jobs at OAG

August 2, 2025
Motorcycle Dealers Asked to Issue ISO Standard Helmets Per Sale

Seku applauds boda boda leaders for championing Patriotism

August 1, 2025
VINAStech Advert
Dr. Ayo Appointed New World Bank Country Director for Uganda

Dr. Ayo Appointed New World Bank Country Director for Uganda

August 1, 2025
Bridging the Protection Gap in Uganda’s Green and Agricultural Economy

Powering Africa’s Future with Clean Cooking

August 1, 2025
Uganda’s Energy Transition Plan leaves women behind

Op-Ed: How climate change amplifies inequality for women

August 1, 2025
Environmental Experts Push for LPG Financing to Save Forests and Protect Public Health

Why Liquefied Petroleum Gas (LPG) may not address clean cooking challenges

August 1, 2025
Man Fatally Stabbed by Brother Over Coffee

Man Fatally Stabbed by Brother Over Coffee

July 31, 2025
Kibaale Man Killed Over Family Radio Set Sale

Kibaale Man Killed Over Family Radio Set Sale

July 31, 2025
FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

FDC Cancels National Delegates Conference

July 30, 2025
FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

July 30, 2025
FDC Endorses Nandala Mafabi for Presidency

FDC Endorses Nandala Mafabi for Presidency

July 30, 2025
Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

July 30, 2025
  • About Us
  • Internship
  • Contact Us
Saturday, August 2, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    Dr. Ayo Appointed New World Bank Country Director for Uganda

    Dr. Ayo Appointed New World Bank Country Director for Uganda

    Bridging the Protection Gap in Uganda’s Green and Agricultural Economy

    Powering Africa’s Future with Clean Cooking

    Uganda’s Energy Transition Plan leaves women behind

    Op-Ed: How climate change amplifies inequality for women

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC Cancels National Delegates Conference

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    Dr. Ayo Appointed New World Bank Country Director for Uganda

    Dr. Ayo Appointed New World Bank Country Director for Uganda

    Bridging the Protection Gap in Uganda’s Green and Agricultural Economy

    Powering Africa’s Future with Clean Cooking

    Uganda’s Energy Transition Plan leaves women behind

    Op-Ed: How climate change amplifies inequality for women

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC Cancels National Delegates Conference

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
No Result
View All Result
Parrots Media
No Result
View All Result
Home RELIGION

Innovative lending schemes earn Stanbic Uganda Ushs412 billion in Profit After Tax

Gilbert Akampa Kakurugu by Gilbert Akampa Kakurugu
March 25, 2024
in RELIGION
0
0
SHARES
2
VIEWS
Share on FacebookShare on X

By Our Reporter,

NATIONAL

Stanbic Uganda, a franchise of the Standard Bank Group—Africa’s largest commercial lender by assets, has announced a profit after tax of UGX 412 billion for the period ending December 2023 representing 15.2 percent growth from UGX 357 billion earned the previous year.

Trading on the Uganda Securities Exchange as Stanbic Uganda Holdings Limited (SUHL), it runs five business units including Stanbic Bank—the anchor subsidiary, Stanbic Properties (in real estate), SBG Securities (in stock brokerage), Stanbic Business Incubator (SME training), as well as FlyHub (in technology solutions) collectively employing nearly 2000 people.

Professional CV writing and Accounting services Ad.

SUHL Chief Executive Francis Karuhanga attributed the strong growth of the franchise to sustained exceptional performance by its anchor business—Stanbic Bank across its retail, business, and investment banking portfolios.

“Despite the operating challenge in 2023, our business demonstrated resilience and sustained double digit growth with Return on Equity of 22.5 percent and shareholder returns increasing to UShs 1.9 trillion in 2023 from UShs 1.78 trillion in 2022. As a result, we shall increase our dividend pay-out to 68 percent for the FY 2023, from 66 percent the previous year—subject to regulatory approvals,” said Karuhanga.

Stanbic-Holdings-Uganda-Limited-SHUL-Senior-Management-Officers-pose-for-a-photo-during-Finacial-results-release-event-at-Serena-Hotel-in-Kampala-scaled

Anne Juuko, the Stanbic Bank Uganda given the prevalent high interest rates in 2023, the bank had to devise innovative approaches, as we have done over the last four years—to ease the burden of borrowing on clients especially small holder farmers, women owned businesses, civil servants, and government of Uganda which enabled them to access credit under friendly and flexible terms.

https://parrotsug.com/wp-content/uploads/2024/03/Anne-Juuko-.mp3

“For instance in 2023, we boldly extended the repayment tenure of existing personal loans to up to seven years, from five and created the much needed legroom for top-up lending which enabled access to money to finance pressing needs such as school, medical and household expenses. As a result, our consumer loan book grew by UShs 369 billion in 2023 from UShs 309 billion the previous year—2022,” said Juuko.

Keigoshora Goldmea, aspiring Guild President of Team University. Advertisement.

Driving Uganda’s growth

READ ALSO

Victoria University Backs Pastor Bugembe’s 20-Year Gospel Music Milestone

Police Urge Vigilance Amid Ongoing Terror Threats

In 2023, Stanbic disbursed over USsh 160 billion in affordable loans to farmers, women owned businesses, through the SACCO lending and capacity building programme, and Stanbic4Her.

Through Stanbic4Her alone, loans worth nearly UShs. 80 billion were disbursed at 15.5% while over 50, 000 women have undergone capacity building trainings. Meanwhile, over 2 million members attached to 6000 SACCOs accessed affordable credit at 10 percent to the tune of Ushs. 85 billion indirectly impacting 10 million Ugandans.

L-R Ronald Makata, Stanbic Bank Chief Finance Officer, Anne Juuko The Stanbic Bank Chief Executive and Francis Karuhanga, The Stanbic Holdings Uganda Limited Chief Executive pose for a photo during Financial results release event.

FlexiPay which is Stanbic Uganda’s response to the rising popularity of digital wallets in the industry saw good growth in users with wallets increasing from 390, 000 to over 840, 000 generating a transaction value of Ushs. 464 billion in 2023.

Stanbic Uganda’s revenues increased to Ushs. 1.19 trilion in 2023 with operating costs accounting for Ushs 584 billion. Of the expenses, Stanbic says Ushs. 169 billion was paid to local suppliers, more than the Ushs. 137 billion paid the previous year. “We remain committed to supporting economic growth by giving business to local suppliers. Out of the 672 registered suppliers, at least 520 of them are local vendors; this has increased from 394 the previous year,” said Karuhanga.

Stebo Smart Pro Ad.

Karuhanga said, in terms of paying taxes, Karuhanga said Stanbic paid Ushs 354 billion having increased from Ushs. 272 billion. “We are proud to be among the country’s top ten largest taxpayers. The banking subsidiary alone paid Ushs. 314 billion in taxes,” he said.

Through the Stanbic Business Incubator, over 900 local businesses received capacity building training to enhance their efficiency in management, market competitiveness, bidding processes, tax management and recordkeeping. The Stanbic Business Incubator was also honoured by the Uganda National Oil Company as the best local content partner—in appreciation of its contribution to supporting local enterprises to participate in the oil and gas economy.

Tags: Anne JuukoFrancis KaruhangaInnovationsMega standard supermarketSBG SecuritiesStanbic BankSUHLSUHL CEO

Related Posts

Victoria University Backs Pastor Bugembe’s 20-Year Gospel Music Milestone
News

Victoria University Backs Pastor Bugembe’s 20-Year Gospel Music Milestone

July 16, 2025
Police Urge Vigilance Amid Ongoing Terror Threats
Religion

Police Urge Vigilance Amid Ongoing Terror Threats

June 6, 2025
Journalists blocked from Martyrs Day Venue
Religion

Journalists blocked from Martyrs Day Venue

June 3, 2025
News

Malawian, Tanzanian Students Jet In for Uganda Martyrs Essay Awards

June 2, 2025
Religion

UPC Urges Reflection and Reform Ahead of Uganda Martyrs Day

May 28, 2025
News

Kasujja Warns Against Secularism as UMU Trains Chaplains to Tackle Youth Crisis

May 26, 2025
Next Post
Kigezi Sub Region Police to Hold Interviews for Police Recruitment in April

Kigezi Sub Region Police to Hold Interviews for Police Recruitment in April

POPULAR NEWS

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

February 16, 2025

“Life Is Scum”: Kabale University Student Leaves Suicide Note, Takes Own Life

July 25, 2025

Former IGP Okoth Ogola Dies

February 14, 2025

A Love Beyond Distance: A review of Leonard Kamugisha Akida’s poetic tribute on valentine’s day

February 14, 2025

Besigye Sends Easter Message from Luzira Prison as Archbishop Kazimba Urges for Release of Political Prisoners

April 18, 2025

EDITOR'S PICK

Gulu Kamdini Highway Temporary Blocked Following Road Crash

March 12, 2025

Age is not politics, the young aged are as ideological as the old.

March 31, 2019

MITOOMA: 63 Mayanga PS Candidates Summoned To UNEB Over Malpractice In PLE

February 6, 2023

Kadaga, Mukula, Oulanya retain their NRM CEC seats as Minister Baryomunsi unseat Kyaligonza in Western Ug.

August 21, 2020
VINAStech advert VINAStech advert VINAStech advert
ADVERTISEMENT

About

Parrots Media

A Public Relations and Media Services Company registered and licensed to operate in Uganda and the Great Lakes Region.

Follow us

Categories

  • Business
  • BUSINESS REPORTS
  • CLIMATE ACTION REPORTS
  • Climate Change
  • COMMUNITY REPORTS
  • Education
  • Entertainment
  • FEATURES
  • Health
  • Lifestyle
  • News
  • News
  • OBITUARY
  • Obituary
  • Opinions
  • RELIGION
  • Religion
  • Science and Technology
  • Sports
  • Sports and Entertainment
  • TOURISM

Recent Updates

  • 1,300 Candidates Battle for Just 31 Jobs at OAG
  • Seku applauds boda boda leaders for championing Patriotism
  • Dr. Ayo Appointed New World Bank Country Director for Uganda
  • Powering Africa’s Future with Clean Cooking
August 2025
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
  • About Us
  • Internship
  • Contact Us

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

No Result
View All Result
  • Parrots Media
  • News
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Lifestyle
  • Others
    • Climate Change
    • Education
    • Religion
    • Opinions

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

You cannot copy content of this page