• Latest

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

March 25, 2024
Former Nigerian President Muhammadu Buhari Dies at 82

Former Nigerian President Muhammadu Buhari Dies at 82

July 13, 2025
Traffic Penalty System Over Public Concerns

Traffic Penalty System Over Public Concerns

July 13, 2025
VINAStech Advert

Inside Muzigo Life: The Noosty Girls Next Door

July 13, 2025
Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

July 12, 2025
EDITORIAL: The Missing Men in Reproductive Health

EDITORIAL: The Missing Men in Reproductive Health

July 12, 2025
Civil Society Groups Condemn EACOP Financing

Op-Ed: Why oil is not a critical mineral

July 12, 2025

Op-Ed: How Uganda can build a sustainable and competitive critical minerals sector

July 12, 2025

Ntare Student Found Dead in River Rwizi Days After Suspension

July 11, 2025
Police Identifies Body Discovered Floating on River Rwizi as Ntare Student

Police Identifies Body Discovered Floating on River Rwizi as Ntare Student

July 11, 2025
Unidentified Body Recovered from River Rwizi Sparks Police Investigation

Unidentified Body Recovered from River Rwizi Sparks Police Investigation

July 11, 2025

IG to Probe Kampala’s Rising Mansions in Anti-Corruption Drive

July 11, 2025
DF to Begin  Nomination Process On Friday

DF to Begin Nomination Process On Friday

July 10, 2025
  • About Us
  • Internship
  • Contact Us
Sunday, July 13, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    Former Nigerian President Muhammadu Buhari Dies at 82

    Former Nigerian President Muhammadu Buhari Dies at 82

    Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

    Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

    IG to Probe Kampala’s Rising Mansions in Anti-Corruption Drive

    Dokolo District Schools Inspector On the Spot Over Forgery of Academic Papers

    UEDCL Marks 100 Days of Progress After Taking Over Electricity Distribution

    UEDCL Marks 100 Days of Progress After Taking Over Electricity Distribution

    Baby Coach Bus Involved in Crash

    Baby Coach Bus Involved in Crash

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    Former Nigerian President Muhammadu Buhari Dies at 82

    Former Nigerian President Muhammadu Buhari Dies at 82

    Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

    Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business

    IG to Probe Kampala’s Rising Mansions in Anti-Corruption Drive

    Dokolo District Schools Inspector On the Spot Over Forgery of Academic Papers

    UEDCL Marks 100 Days of Progress After Taking Over Electricity Distribution

    UEDCL Marks 100 Days of Progress After Taking Over Electricity Distribution

    Baby Coach Bus Involved in Crash

    Baby Coach Bus Involved in Crash

    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.

ADVERTISEMENT
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

Police Urge Vigilance Amid Ongoing Terror Threats

Journalists blocked from Martyrs Day Venue

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

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
Uganda Martyrs Essay Competition Expands Across East Africa
RELIGION

Uganda Martyrs Essay Competition Expands Across East Africa

May 23, 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

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
Brutality at KIU: Students Assaulted by Officials at Examination Hall

KIU Loses Bid to Block Payment of Shillings 46.8 Billion to Housing Finance Bank

March 12, 2025

EDITOR'S PICK

Kazibwe Bashir accused of neglecting his constituency.

June 3, 2022

Three arrested for dropping threatening letters in Entebbe

September 9, 2021
How to Check If You Have the Latest Windows 10 Version

How to Check If You Have the Latest Windows 10 Version

February 17, 2021
Minister Aceng warns over easing lockdown excitements.

Minister Aceng to address the nation on COVID-19 on Tuesday.

July 26, 2021
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

  • Former Nigerian President Muhammadu Buhari Dies at 82
  • Traffic Penalty System Over Public Concerns
  • Inside Muzigo Life: The Noosty Girls Next Door
  • Gender Ministry, Enabel Equip Local Governments to Promote Human Rights in Business
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    
  • 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