Stanbic Uganda Holdings Limited (SUHL), Uganda’s leading financial services group, announced strong financial results for the first half of 2025, demonstrating its commitment to Uganda's fiscal sustainability and economic growth.
The Group reported a Profit After Tax (PAT) of Shs278 billion for the six months ending June 30, an 18 percent increase compared to the same period last year. Alongside this commercial success, Stanbic Uganda paid Shs273 billion in taxes, a 37 percent increase from 198 billion in H1 2024.
These results highlight Stanbic’s role as a responsible corporate citizen, directly contributing to the government’s revenue base, supporting national infrastructure, social services, and Uganda’s overall development.
Francis Karuhanga, CEO of Stanbic Uganda Holdings Limited, emphasised the Group’s dual purpose of business success and national development: "Our strong half-year performance reflects not just sound business execution but also our unwavering commitment to driving Uganda’s growth. Paying Ushs 273 billion in taxes demonstrates how our commercial achievements translate into critical support for the country’s fiscal objectives. Additionally, we facilitated over Ushs 5.8 trillion in tax payments through our banking channels for the Uganda Revenue Authority, reinforcing our role in mobilising domestic resources for development."
Stanbic Bank Uganda, the Group’s key subsidiary, led growth across multiple segments. CEO Mumba Kalifungwa commented, "Our focus on innovation, customer-centric solutions, and disciplined risk management enabled significant growth in both lending and deposits. Corporate and Investment Banking saw a 17 percent increase in lending and a 52 percent rise in deposits. Our Personal and Private Banking and Business and Commercial Banking units also posted strong growth, demonstrating the resilience and broad appeal of our services, meeting the diverse needs of Uganda’s economy.”
Ronald Makata, Chief Financial and Value Management Officer, attributed the Group's performance to operational discipline, with a cost-to-income ratio under 50 per cent and credit losses managed at 0.2 per cent. "The Group’s performance reflects the strength of our diversified business model and prudent financial management. Our 27 per cent Return on Equity and improved non-interest revenue streams position us well to meet ambitious 2025 targets while delivering value to shareholders and stakeholders."
Stanbic’s commitment to supporting Uganda’s entrepreneurs is evident in the Shs288 billion of new capital injected into local businesses, increasing the SME loan book to 968 billion. This expansion highlights Stanbic’s role in empowering youth and women-led enterprises, key drivers of Uganda’s inclusive growth.
Looking ahead, Stanbic Uganda, a member of the Standard Bank Group, Africa’s largest lender by assets, reaffirms its commitment to leveraging its scale, innovation, and client relationships to maintain market leadership and support the nation’s path to sustainable economic prosperity.
