Stanbic Uganda’s H1 profits rise to UGX 278billion, tax payments jump

KAMPALA, UGANDA — Stanbic Uganda Holdings Ltd. reported a significant increase in profits for the first half of 2025, with a profit after tax of 278 billion Ugandan shillings. The financial services group also announced a 37% jump in tax payments to the government, totaling 273 billion shillings for the period.

The profit represents an 18% increase from the same period last year. According to Francis Karuhanga, CEO of Stanbic Uganda Holdings, the results highlight the group’s “unwavering commitment to driving Uganda’s growth.”

Karuhanga stated that the tax payments are a “tangible demonstration” of how the company’s commercial success supports the country’s fiscal objectives, which include financing national infrastructure and social services. Stanbic also facilitated over 5.8 trillion shillings in tax payments for the Uganda Revenue Authority through its banking channels.

Stanbic Bank Uganda, the group’s main subsidiary, drove growth across its business segments. Mumba Kalifungwa, the bank’s CEO, noted that corporate and investment banking saw a 17% increase in lending and a 52% rise in deposits. The personal, private, business, and commercial banking units also saw robust growth.

Ronald Makata, chief financial and value management officer, attributed the strong performance to operational discipline, noting a cost-to-income ratio below 50% and managed credit losses of 0.2%. He said the results are a “clear testament to the resilience of our diversified business model and prudent financial management.” The group’s return on equity was 27%.

In the first half of the year, Stanbic injected 288 billion shillings in new capital into local businesses, bringing its total loan book for small and medium-sized enterprises (SMEs) to 968 billion shillings. The company’s leadership says this expansion supports youth and women-led enterprises, which are seen as key to the country’s inclusive growth.