Stanbic Uganda Holdings Limited (SUHL) has posted a strong set of results for the first half of 2025, recording a Profit after Tax of Ushs 278 billion, up 18 per cent from Ushs 236 billion in the same period last year.
Alongside this commercial growth, Stanbic Uganda contributed Ushs 273 billion in taxes, a 37 per cent jump from Ushs 198 billion in H1 2024. The Group also facilitated more than Ushs 5.8 trillion in tax payments through its banking channels on behalf of the Uganda Revenue Authority (URA).
Francis Karuhanga, Chief Executive Officer of Stanbic Uganda Holdings Limited, said the performance showed the Group’s balance between profitability 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 Ushs 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 Ushs 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,” he noted.
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The Group’s anchor subsidiary, Stanbic Bank Uganda, was a key driver of growth across multiple segments. Chief Executive Mumba Kalifungwa said the results were driven by innovation, customer-focused solutions, and disciplined risk management.
“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,” Kalifungwa said.
Operational discipline contributed to the Group’s solid half-year. Ronald Makata, Chief Financial and Value Management Officer, cited a cost-to-income ratio below 50 per cent and credit losses at just 0.2 per cent. “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,” he said.
Additionally, Stanbic Uganda injected Ushs 288 billion of new capital into local businesses during the six months to June, expanding its SME loan book to Ushs 968 billion. The bank said its programs for youth and women-led enterprises continue to play a key role in advancing inclusive economic growth.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.