Stanbic Uganda Holdings Limited (SUHL) has released its half-year financial results for 2026, showcasing strong commercial momentum and a deepened commitment to supporting Uganda’s ambitious Tenfold Growth strategy to expand the economy from USD 50 billion to USD 500 billion by 2040.
Driven by strong performance from its anchor subsidiary, Stanbic Bank Uganda, and steady growth from SBG Securities, SUHL posted a net profit of UShs 357 billion, representing a 28.2% increase year-on-year. Total income reached UShs 830 billion, with a robust Return on Equity of 30.4%. Customer deposits grew to UShs 9.2 trillion on account of strong brand equity and trust, while net customer lending reached UShs 5.3 trillion.
“Our commercial strategy is well aligned with national growth aspirations; today, over UShs 1 trillion or 20% of our anchor subsidiary’s current lending is supporting the tenfold growth ambition in form of lending to the earmarked sector drivers,” said Mark Ocitti Ongom, Chief Executive of Stanbic Uganda Holdings Limited.
The results reflect disciplined execution and reinforce the bank’s alignment to Government’s ATMS priorities – Agro-industrialisation, Tourism, Mining, and Science, Technology & Innovation.
The bank’s Positive Impact Agenda, launched in 2025, is a commitment to drive sustainable livelihood opportunities for women, youth, and farmers – the three constituencies at the heart of Uganda’s socio-economic transformation. The agenda is anchored on five pillars: financial inclusion, enterprise development and job creation, infrastructure investment, climate resilience, and corporate social investment.
“When we embarked on this journey, the bank pledged to mobilise up to UShs 1 trillion by 2028 through strategic partnerships that expand access, opportunity, and resilience across Uganda’s communities,” said Mumba Kalifungwa, Chief Executive of Stanbic Bank Uganda.
He highlighted significant progress in the first half of the year, including two landmark partnerships worth over UShs 450 billion: a grant for women economic empowerment from the Gates Foundation and a UShs 420 billion credit line from the European Investment Bank to support climate-resilient enterprise growth.
As the bank moves into the second half of the year, leadership remains focused on sustaining momentum, deepening client experience transformation, and accelerating innovation. Key priorities include expanding ATMS-aligned financing, scaling the Positive Impact Agenda, and unlocking new pathways for enterprise competitiveness.
“The journey to Uganda’s tenfold growth aspiration demands consistency, ambition, and purpose; we are committed to advancing all three,” Kalifungwa said.
