Half year results
For the period ended 30 June 2025

Chief Executive’s Statement

Francis Karuhanga
Chief Executive, SUHL

• Customer Loans (UShs): 4.9tn ↑ 12.9%

• Customer Deposit (UShs): 8.4tn ↑ 28.9%

• Net Profits (UShs): 278bn ↑ 18.2%

• Return on Equity: 26.9% ↑ 1.9%

• Proposed Interim Dividends (UShs): 140bn

• Taxes Paid (UShs): 273bn ↑ 37%

Chief Executive’s Message

As we reflect on the first half of 2025, I am delighted to report that Stanbic Uganda Holdings Limited (SUHL) has delivered a robust performance amid opportunities and challenges in a dynamic operating environment, anchored on our unwavering commitment to our purpose—driving Uganda’s growth.

Underpinned by strong organic growth, innovation as well as disciplined risk and cost management, we are pleased to report to our stakeholders a Profit After Tax of UShs 278 billion, marking an 18 per cent increase over the same period last year; and Return on Equity of 27 per cent, well above the 20 per cent level delivered last year, and well above the 50 per cent threshold, while credit losses as a percentage of total loans reduced by 22 basis points to 0.5 per cent, reflecting sound risk management practices and operational controls. This performance gives us confidence that we shall achieve our 2025 financial targets.

As a responsible corporate citizen, Stanbic Uganda continues to play a vital role in contributing to the country’s fiscal sustainability. During the half year, the Group remitted UShs 273 billion in taxes, marking an increase of 37 per cent over the same period last year. Of the total amount, UShs 270 billion was facilitated through our banking channels on behalf of Uganda Revenue Authority (URA). This positioned us as a key partner in mobilizing critical domestic resources that finance public expenditure, social services, and infrastructure.

Even as the economic landscape remains challenging with forecast GDP growth of approximately 6.5 per cent in 2025, Uganda continues to enjoy economic resilience. In this context, we continue to leverage our scale, innovation, and extensive local presence to make a contribution to Uganda’s financial services industry.

Celebrating Shared Value and Impact

• Taxes collected on behalf of URA
  Our banking channels facilitated tax payers to remit UShs 5.8 trillion in revenue.

• Lending to Agriculture sector
  We extended UShs 398 billion in loans to the agricultural sector of which UShs 65 billion was invested in farmer SACCOs.

• Tenders to local vendors
  Tenders valued at UShs 127 billion were awarded to local vendors, reinforcing our commitment to sourcing goods and services domestically.

• Promoting entrepreneurial skills among youth
  Over 60,000 students from 150 schools across Uganda have participated in the 2025 Stanbic National Schools Entrepreneurship Championship.

Performance Highlights

Our anchor subsidiary, Stanbic Bank Uganda, remains the cornerstone of our success. Corporate and Investment Banking (CIB) recorded a 17 per cent increase in lending and a 52 per cent rise in client deposits, while Business and Commercial Banking, alongside Private and Personal Banking, also posted solid growth across lending and deposits. This broad-based performance reflects the continued appeal and relevance of our products and services across the Ugandan market.

One of the standout performers in this half-year period has been SBG Securities, which strengthened its delivery of our strategy to entrench and diversify revenue streams. SBG Securities’ Assets under Management remarkable grew by 32 per cent, while our trustee business posted growth of 327 per cent versus the same period last year. Our investments arm continues to maintain and underscore our commitment to innovation and diversification of our revenue streams.

Our unwavering commitment to driving financial inclusion has seen us expand our robust support for the Agricultural sector. In the first half of 2025, we disbursed UShs 398 billion to agribusiness, SACCOs, and small-scale farmers. In addition, over 60,000 students from 150 schools across Uganda participated in the 2025 Stanbic National Schools Entrepreneurship Championship, providing them with exposure to financial literacy and entrepreneurship skills.

As we look to the second half of the year, we remain confident in our diversified income streams, strengthened balance sheet, stable funding, and strategic focus on innovation and digital transformation. We are confident in our leadership position in the financial sector and our contribution to national development. We remain grateful for the trust of our customers, support of our shareholders, and the invaluable partnership of our regulators.

Francis Karuhanga
Chief Executive Officer
Stanbic Uganda Holdings Limited