Stanbic Uganda Holdings Limited (SUHL), the leading financial services group in Uganda announced a robust financial performance for the first half of 2025, underscoring its strategic commitment to supporting Uganda’s fiscal sustainability and economic development.
The Group recorded a Profit After Tax (PAT) of Shs 278 billion for the six months ending June 30, 2025—an 18 per cent increase compared to the same period last year. Complementing this commercial success, Stanbic Uganda paid Shs 273 billion in taxes during the period, a significant 37 per cent rise from Shs 198 billion in H1 2024.
These figures highlight Stanbic’s role as a responsible corporate citizen contributing directly to the government’s revenue base, financing vital national infrastructure, social services, and Uganda’s broader growth agenda.
Francis Karuhanga, Chief Executive Officer of Stanbic Uganda Holdings Limited, emphasized 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 Shs 273 billion in taxes is a tangible demonstration of how our commercial achievements translate into critical support for the country’s fiscal objectives. Additionally, we also facilitated over Shs 5.8 trillion in tax payments through our banking channels on behalf of the Uganda Revenue Authority, underscoring our critical role in mobilizing domestic resources for development priorities.”
The Group’s Anchor subsidiary, Stanbic Bank Uganda, continued to drive growth across multiple segments as highlighted by Chief Executive Mumba Kalifungwa: “Our strategic focus on innovation, customer-centric solutions, and disciplined risk management enabled us to grow lending and deposits significantly during the period. Our strong performance in the first half of 2025 was driven by significant growth across our core business units. Corporate and Investment Banking delivered a 17 per cent increase in lending and a 52 per cent rise in deposits, while our Personal and Private Banking and Business and Commercial Banking units also posted robust growth in both lending and deposits. This balanced momentum across key segments demonstrates the resilience and broad appeal of our products and services, enabling us to meet the diverse needs of Uganda’s economy.”
Ronald Makata, Chief Financial and Value Management Officer for Stanbic attributed a strong half year performance to operational discipline underscored by a cost-to-income ratio well below 50 per cent and credit losses tightly managed at 0.2 per cent, reflecting efficiency. “The Group’s performance is a clear testament to the resilience 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 the ambitious targets set for 2025 while continuing to deliver value to shareholders and stakeholders alike.”
Stanbic says its commitment to supporting Uganda’s entrepreneurs was evident during the first half, with Shs 288 billion of new capital injected into local businesses, bringing the total SME loan book to Shs 968 billion.
This expansion, the leadership says, underscores Stanbic’s role in empowering youth and women-led enterprises, essential drivers of the country’s inclusive growth.
Looking forward, Stanbic Uganda, the member of the Standard Bank Group—Africa’s largest lender by assets, reaffirms its commitment to leveraging its scale, innovation, and deep client relationships to maintain market leadership while continuing to support the nation’s journey towards sustained economic prosperity.
