Standard Chartered Uganda Explained

Standard Chartered Bank Uganda Limited
Type:Private
Location:5 Speke Road, Kampala, Uganda
Key People:Maria Kiwanuka[1]
Chairperson
Sanjay Rughani
CEO
Num Employees:600+ (2018)[2]
Parent:Standard Chartered
Assets:USh3.8 trillion (US$1.072 billion) (2020)[3]
Revenue: Aftertax: USh72 billion (US$20.3 million) (2020)[4]
Industry:Financial services
Products:Loans, checking, savings, investments, debit cards

Standard Chartered Uganda, whose official name is Standard Chartered Bank Uganda Limited but is often referred to as Stanchart Uganda, is a commercial bank in Uganda. It is one of the banks licensed by the Bank of Uganda, the central bank and national banking regulator.[5]

Overview

Stanchart Uganda is a large bank serving large corporate clients, upscale retail customers, and medium to large business enterprises., it was the third largest commercial bank in Uganda by assets, with an asset base of UGX:3.8 trillion (US$1.072 billion), with shareholders' equity of UGX:937 billion (US$264 million),[3] behind Stanbic Bank Uganda and Centenary Bank.[6], Stanchart Uganda owned an estimated 16.2 percent of total bank assets in the country.[7]

History

Founded in August 1912, Stanchart Uganda is the oldest commercial bank in the country and has maintained a continuous banking presence in the country since its founding. In 1998, Stanchart Uganda acquired four branches of the former Uganda Cooperative Bank. As of May 2018, Stanchart Uganda had 9 branches and 29 automated teller machines and employed over 600 people.[2]

Ownership

Stanchart Uganda is a wholly owned subsidiary of the Standard Chartered Bank Group, an international financial services conglomerate, headquartered in London in the United Kingdom.[3]

Branch network

, the bank had a network of interconnected branches at the following locations, arranged alphabetically:[8] [9] [10]

  1. Lugogo Branch: Forest Mall, 2-8 Lugogo Bypass Road, Lugogo, Kampala
  2. Acacia Branch: Acacia Shopping Mall, Kololo, Kampala[11]
  3. City Branch - 9 William Street, Kampala
  4. Jinja Branch - 2-4 Grant Road, Jinja
  5. Freedom City Branch - 4010 Kampala-Entebbe Road, Namasuba, Kampala
  6. Garden City Branch - Garden City Shopping Mall, 64-84 Yusuf Lule Road, Kampala
  7. Speke Road Branch - 5 Speke Road, Kampala Head Office
  8. Kikuubo Branch - Kikuubo Lane, Kampala
  9. Village Mall Branch - Village Mall, 3 Bandali Rise, Bugoloobi, Kampala

Governance

As of July 2024, the chairperson of the board of directors is Maria Kiwanuka, a former minister of finance in Uganda's cabinet. The managing director is Sanjay Rughani.[1]

Other considerations

As of July 2024, Stanchart Uganda was contemplating financing (a) the Uganda government's take-over of Umeme in March 2025 (b) the construction of several high voltage transmission lines and (c) the construction of several "oil roads".[1]

External links

Notes and References

  1. Web site: Standard Chartered Bank To Finance Oil Roads And Transmission Lines . SoftPower Uganda . 26 July 2024 . SoftPower . 27 July 2024 . Kampala, Uganda.
  2. Web site: 3 May 2018 . Number of Employees In 2018 . Standard Chartered Uganda . 3 May 2018 . Stanchart Uganda . Kampala, Uganda.
  3. Web site: Standard Chartered Bank Assets Grow By 21% . Bankers Journal Uganda . 5 May 2021 . Salim Kalanzi . 25 May 2021 . Kampala.
  4. Web site: 11 May 2021. Standard Chartered Bank 2020 net profit down 42% . . The independent . 25 May 2021 . Kampala.
  5. Web site: List of Licensed Commercial Banks As At June 2015 . PDF . BOU . Bank of Uganda (BOU) . June 2015 . 18 December 2015 . Kampala.
  6. Web site: Absa Bank Uganda's Assets Reach UGX3.4 Trillion, Moves From Fifth To Third Largest Bank, By Assets . CEO Magazine Online . 4 May 2020 . Muhereza Kyamutetera . 5 May 2020 . Kampala.
  7. Web site: Mixed bag of banking stars . 19 January 2014 . Emma Onyango . . 9 February 2016 . Kampala.
  8. Web site: 3 May 2018 . Standard Chartered Bank Uganda: ATMs and Branches . Standard Chartered Uganda (SCBUG) . 3 May 2018 . SCBUG. Kampala.
  9. Web site: 31 May 2015 . Standard Chartered Bank Closing its Mbale branch . 19 October 2017 . . David . Rupiny . Kampala.
  10. Web site: 19 October 2017 . TUGn. Standard Chartered Bank closes Mbarara and Gulu branches . 19 October 2017 . Kampala . The Ugandan (TUGn).
  11. Web site: Mutebile optimistic about economic growth . . 30 June 2014 . 9 February 2016. and Cynthia Aber . Oyet Okwera . Kampala.