Best bank: Stanbic Bank Uganda
Stanbic Bank Uganda (SBU) turned in a strong performance over the review period. Net profit was USh421 billion ($110 million), up 18% from USh357 billion in 2022. Net loans increased to USh4 trillion, while deposits ended the year at USh6 trillion, both up 3% on 2022.
AfE 2024
In 2023, more than 840,000 users accessed wallets via the bank’s retail digital offering, FlexiPay, up from 390,000 the year before. Transaction value reached USh464 billion.
The bank partnered with IFC, AbiTrust, UN Women and the country's government to create two access-to-affordable-credit programmes. One of these, the Stanbic4Her programme, saw the bank disburse loans worth nearly USh80 billion. Over 50,000 women participated in training.
In 2023, over USh4 billion was dedicated to corporate social investment programmes covering education, the environment and healthcare. Together with the ministry of health and other partners, the bank created the Corporate Society for Safe Motherhood to mobilize resources to tackle maternal and neonatal mortality rates.