Stanbic Uganda Holdings Ltd, the mother company of Stanbic Bank Uganda, have published their annual financial report for the year ended 2023, which has seen the Board of Directors recommending a payment of UGX155 billion in dividends to the company�s shareholders. Consequently, each of the 22,400 shareholders will smile their way to the bank with a dividend payment of UGX3.03 per share. This amount is in addition to the interim dividend of UGX2.44 per share, which was paid in the year ended December 2023. This brings the total dividend to UGX5.47 per share for the entire period under review. However, the UGX155 billion dividend payment is a decrease from the UGX185 billion, which was paid in 2022. But the report indicates that the company made a total profit of UGX411 billion, up from UGX357 billion in 2022. The total asset base rose by more than UGX300 billion to top UGX9.3 trillion, while the customer loan portfolio grew to reach UGX4.22 trillion, up from UGX4.08 trillion in 2022. Additionally, customer deposits increased from UGX6.131 trillion in 2022 to UGX6.332 trillion in 2023. These key numbers seem to point to a steady and strong post-pandemic recovery for the business sector. Income tax paid to URA rose by about UGX4 billion to reach UGX129.4 billion, making Stanbic Uganda Holdings one of the leading taxpayers in the country.
Stanbic Uganda Holdings is part of the Standard Bank Group, Africa’s largest bank by footprint and assets. The company, which is listed on the Uganda Securities Exchange, comprises five subsidiaries with a market capitalization amounting to more than UGX1 trillion. The subsidiaries are; Stanbic Bank Uganda Ltd, the leading commercial bank in the country, Stanbic Properties Limited, a real-estate company; SBG Securities Uganda Ltd, an investment and brokerage firm; Stanbic Business Incubator Ltd, an enterprise development institution, and FlyHub Uganda Ltd, a technologies and innovations company. At the beginning of this year, Mr. Francis Karuhanga was transferred from South Africa and appointed new CEO, while Ms Anne Juuko, the former CEO of Stanbic Bank Uganda Ltd, was recently rewarded with a big promotion to a new position at the Group’s regional office in Nairobi, Kenya.
