Following a successful year where the bank posted solid results for 2018, Stanbic Bank has been recognised as the Best Bank in Uganda at the Euromoney 2019 Awards of Excellence.
This is the third year in a row that Stanbic Bank Uganda has won this award.
The Euromoney Awards for excellence are the world’s most prestigious and respected banking and capital markets accolades that recognize institutions bringing the highest level of expertise, service and innovation in the global financial industry.
Commenting on the award, Stanbic Bank Uganda Chief Executive Patrick Mweheire said the prestigious accolade is an incredible achievement that demonstrates the bank’s commitment to service excellence and delivering solutions that meet the client’s needs
“Stanbic Bank continues to play a key role in supporting the country’s national development agenda. In 2018, we made available UGX 405bn in new credit to our clients and as a result grew our loan book by 18% (almost double the industry growth rate) to UGX 2.5tn,” said Mweheire.
“We currently hold the largest customer loan portfolio and approximately UGX 1.8tn (43% market share) in off-balance sheet exposures (guarantees, letters of credit and performance bonds) and as such we continue to be a key enabler in supporting the Government’s agenda of infrastructure development and driving the growth of the Agriculture, Manufacturing, Construction and Trade sectors of the economy.”
Mweheire said the bank has heavily invested in a customer centric model of operation which puts the customer at the centre of their focus. This has enabled them to come up with innovative solutions and channels which have helped improve convenience for the customer while bringing down transaction costs.
The Bank was recognised alongside other subsidiaries under the Standard Bank group in various categories. In the Investment Bank category, the awards also recognised Standard Bank’s investment banking excellence in Angola, Malawi, South Africa and Zambia. Standard Bank was also named as Africa’s Best Bank for Wealth Management, and Best Bank in Namibia.
Standard Bank Chief Executive, Africa Regions, Sola David-Borha, commenting on the awards said, “As a trusted partner to in-country, regional and international organisations across Africa, these accolades recognise our leading client proposition”.
“We provide independent input into strategic decision-making, backed up by carefully executed solutions across advisory, financing, lending, trading, transactional and wealth requirements.”
“Our purpose is to drive Africa’s growth. We are committed to being more than a provider of financial products and services – we are a catalyst for economic change in our countries of operation and we endeavour to enhance the lives of our fellow Africans by doing the right business the right way,” she added.
Stanbic Bank Uganda is a member of the Standard Bank Group, Africa’s largest bank by assets. Standard Bank Group reported total assets of R2.1 trillion ($148 billion) as at 31 December 2018, while its market capitalization was at R289 billion ($20 billion).
Stanbic Bank Uganda provides the full spectrum of financial services. Its Corporate & Investment Banking division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services.