Stanbic Bank is part of Africa's leading banking and financial services organisation, Standard Bank Group.
Our heritage in Uganda goes back to 1906 when we operated as National Bank of India. Several name changes followed over the years, including that of Grindlays Bank.
We finally became Stanbic Bank Uganda when Standard Bank Group bought the Grindlays network in Africa in October 1993.
In February 2002 Standard Bank Group bought 90% of shares in Uganda Commercial Bank, a largely retail government-owned bank that operated a countrywide network of 67 branches. The remaining 10% shares were kept under Uganda government ownership.
Government undertook a divestiture programme to remove state participation in various companies. This led to Stanbic Bank Uganda making an initial public offer of 20% of shares in the bank worth UGX1,023,773,394.
The objectives of the offer and listing were to enable the Ugandan public to participate in the equity of Stanbic Bank and to encourage wider ownership of shares in general. It also provided individuals, institutional investors and other interested parties with an opportunity to participate in the equity of Stanbic Bank and to provide a market for the shareholders to realise their investment in Stanbic Bank.
The response was phenomenal with 37,449 applications for 3-billion shares totalling UGX211-billion, hence a 200% oversubscription.
While our head office is in Kampala, we operate 91 branches and a growing ATM network of over 175 all over Uganda.
Stanbic Bank is the largest financial institution in Uganda licensed under the Financial Institutions Act, 2004 and is listed on the Uganda Securities Exchange Limited.