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The new owners merged their new acquisition with their existing Stanbic Bank (Uganda) Limited to form Uganda's largest commercial bank by assets and branch network. [11] In November 2005, the government of Uganda divested its ownership in Stanbic Bank (Uganda) by listing its shares on the USE. Standard Bank also floated 10 percent of its ...
The stock of Stanbic Bank (Uganda) Limited is traded on the Uganda Securities Exchange (USE) under the symbol SBU. Standard Bank Group maintains approximately 80 percent shareholding. [20] In 2015 Stanbic Bank was involved in a fraud scandal involving money transfers from the Swedish embassy to private accounts of a former embassy employee. [21]
Anne Juuko (born c. 1981), is a Ugandan investment banker and corporate executive, who was appointed by Standard Bank Group as the Regional Head of Global Markets in the group's Eastern African region, covering South Sudan, the Democratic Republic of the Congo, Uganda, Kenya, Tanzania, Malawi and Zambia. Her appointment took effect on 1 April 2024.
In 2012, he relocated back to Uganda to take up the position of Executive Director and Head of Corporate and Investment Banking at Stanbic Bank Uganda (SBU). [4] In January 2015, the Board of Directors at SBU appointed Patrick Mweheire as managing director and CEO of the bank, replacing Philip Odera, a Kenyan national.
Its authorised share capital is USh 1 billion, consisting of 100 million shares of 10/= each. At incorporation, the paid up capital was USh 42 million, with each of the founding investor firms owning 6,000,000 shares, each valued at 10/= each. [29] The shareholding in the stock of the Uganda Securities Exchange is as depicted in the table below ...
Stanbic Holdings Plc, formerly known as CfC Stanbic Holdings Limited, is a Kenyan financial services organization with headquarters in Nairobi, Kenya, with subsidiaries in Kenya and South Sudan. Stanbic Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. The institution is licensed and governed by ...
However, in 1998, after Westmont failed to pay the agreed fee and was accused of acting fraudulently, the transaction was nullified. In 2001, 80% shares of the bank was bought by the South African investment bank Standard Bank. Standard Bank merged Uganda Commercial Bank with its existing bank Stanbic Bank Uganda Limited. [4]
In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government-owned Uganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development Bank is a state-owned development finance ...