Stanbic Uganda Holdings Ltd. has posted a strong first-half performance, announcing a profit after tax of UGX 278 billion, an 18% rise compared to the same period in 2024.
The financial services group also revealed that its tax contributions to government surged by 37%, totaling UGX 273 billion between January and June. In addition, the bank facilitated UGX 5.8 trillion in tax payments for the Uganda Revenue Authority (URA) through its channels.
Group CEO Francis Karuhanga said the results underscore the company’s dual role of driving business growth while supporting Uganda’s fiscal priorities.
“These tax payments are a tangible demonstration of how Stanbic’s commercial success contributes to financing the country’s infrastructure and social services,” Karuhanga noted.
Stanbic Bank Uganda, the group’s main subsidiary, reported robust performance across corporate, investment, and retail banking. CEO Mumba Kalifungwa highlighted a 17% rise in lending and a 52% increase in deposits, pointing to strong customer confidence in the institution.
The bank also maintained momentum in personal, private, business, and commercial banking segments, with each unit registering steady growth.
Chief financial and value management officer Ronald Makata attributed the strong performance to prudent management.
“With a cost-to-income ratio below 50% and managed credit losses of just 0.2%, these results are a clear testament to the resilience of our diversified business model,” Makata said.
The group recorded a 27% return on equity, well above industry averages.
Stanbic continued to strengthen its support for Uganda’s private sector, injecting UGX 288 billion in fresh capital into local enterprises during the first half of the year. Its total loan book for small and medium-sized enterprises (SMEs) has now reached UGX 968 billion.
The bank says a significant portion of this financing is directed toward youth and women-led enterprises, reflecting its commitment to inclusive growth and job creation.