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    Deal: Over 50,000 Housing Units to be supplied as NWSC and NHCC Sign Water Partnership MOU

    From Streams to Screens: Here Unveiling the IT and Digital Transformation of Uganda`s National Water and Sewerage Corporation Corp

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    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

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    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

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    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

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    Digital Technologies Could Help Uganda’s Economy Recover Faster

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    UNBS closes Sunshare factory over failure to comply with Standards

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    Fare Thee Well Darling: Delicately Voiced Singer Evelyn Nakabira ‘Lagu’ Goes Home Sad and Disappointed but with a Hope-filled Smile

    Fare Thee Well Darling: Delicately Voiced Singer Evelyn Nakabira ‘Lagu’ Goes Home Sad and Disappointed but with a Hope-filled Smile

    Micho: The `Serbian Wol-Off`s Second Marriage Whose Divorce was Simply a Waste of Time, One With Magogo and Not for Football

    Micho: The `Serbian Wol-Off`s Second Marriage Whose Divorce was Simply a Waste of Time, One With Magogo and Not for Football

    Fahad Kawooya aka Uncle Bean: The Suzan Makula and Bujingo Villain who has Beaten all Odds to Miraculously get his Canada Dream Come True

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    MC Kats Set to Dent his Uganda Entertainment Profile and Enter the Gates of Hell if He Doesn’t Back Off the Consistent and Principled Alien Skin

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    Uganda and Kenya Still have to Prove their Might on the Continent as Organizers Kick Out the Afcon 2027 Bidding Neighbors Out of Maiden Clubs

    Uganda and Kenya Still have to Prove their Might on the Continent as Organizers Kick Out the Afcon 2027 Bidding Neighbors Out of Maiden Clubs

    No Thank You: Before we ‘Must’ Say Thank You, Take a Look at the Sickening Outside of the Beautiful Interior of Ham Kiggundu’s Nakivubo Stadium

    No Thank You: Before we ‘Must’ Say Thank You, Take a Look at the Sickening Outside of the Beautiful Interior of Ham Kiggundu’s Nakivubo Stadium

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    Trouble as Ministry of Internal Affairs is drawn into a High-Stakes Child Custody Battle Involving a Prominent City Car Dealer being Accused of Immigration Influence

    Trouble as Ministry of Internal Affairs is drawn into a High-Stakes Child Custody Battle Involving a Prominent City Car Dealer being Accused of Immigration Influence

    Tribute to Elly Wamala: Remembering the Ever-Green Icon, the Father of Uganda’s Music Recording Industry and His Unforgettable Legacy

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    Musambwa Goes Dormant: Government Soldiers Secure Buganda’s Mysterious Shrine Amidst Renovations of Mandela National Stadium”

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    Cross-Border Collaboration: Uganda’s NWSC and Malawi’s LWB Forge Strong Ties in Urban Sewerage Management

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    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

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    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

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    Cindy Sanyu to headline Eastern Megafest

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    Deal: Over 50,000 Housing Units to be supplied as NWSC and NHCC Sign Water Partnership MOU

    From Streams to Screens: Here Unveiling the IT and Digital Transformation of Uganda`s National Water and Sewerage Corporation Corp

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Fare Thee Well Darling: Delicately Voiced Singer Evelyn Nakabira ‘Lagu’ Goes Home Sad and Disappointed but with a Hope-filled Smile

    Fare Thee Well Darling: Delicately Voiced Singer Evelyn Nakabira ‘Lagu’ Goes Home Sad and Disappointed but with a Hope-filled Smile

    Micho: The `Serbian Wol-Off`s Second Marriage Whose Divorce was Simply a Waste of Time, One With Magogo and Not for Football

    Micho: The `Serbian Wol-Off`s Second Marriage Whose Divorce was Simply a Waste of Time, One With Magogo and Not for Football

    Fahad Kawooya aka Uncle Bean: The Suzan Makula and Bujingo Villain who has Beaten all Odds to Miraculously get his Canada Dream Come True

    Fahad Kawooya aka Uncle Bean: The Suzan Makula and Bujingo Villain who has Beaten all Odds to Miraculously get his Canada Dream Come True

    MC Kats Set to Dent his Uganda Entertainment Profile and Enter the Gates of Hell if He Doesn’t Back Off the Consistent and Principled Alien Skin

    MC Kats Set to Dent his Uganda Entertainment Profile and Enter the Gates of Hell if He Doesn’t Back Off the Consistent and Principled Alien Skin

    Uganda and Kenya Still have to Prove their Might on the Continent as Organizers Kick Out the Afcon 2027 Bidding Neighbors Out of Maiden Clubs

    Uganda and Kenya Still have to Prove their Might on the Continent as Organizers Kick Out the Afcon 2027 Bidding Neighbors Out of Maiden Clubs

    No Thank You: Before we ‘Must’ Say Thank You, Take a Look at the Sickening Outside of the Beautiful Interior of Ham Kiggundu’s Nakivubo Stadium

    No Thank You: Before we ‘Must’ Say Thank You, Take a Look at the Sickening Outside of the Beautiful Interior of Ham Kiggundu’s Nakivubo Stadium

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
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    Trouble as Ministry of Internal Affairs is drawn into a High-Stakes Child Custody Battle Involving a Prominent City Car Dealer being Accused of Immigration Influence

    Trouble as Ministry of Internal Affairs is drawn into a High-Stakes Child Custody Battle Involving a Prominent City Car Dealer being Accused of Immigration Influence

    Tribute to Elly Wamala: Remembering the Ever-Green Icon, the Father of Uganda’s Music Recording Industry and His Unforgettable Legacy

    Tribute to Elly Wamala: Remembering the Ever-Green Icon, the Father of Uganda’s Music Recording Industry and His Unforgettable Legacy

    Musambwa Goes Dormant: Government Soldiers Secure Buganda’s Mysterious Shrine Amidst Renovations of Mandela National Stadium”

    Musambwa Goes Dormant: Government Soldiers Secure Buganda’s Mysterious Shrine Amidst Renovations of Mandela National Stadium”

    Finding Peace and Healing: Sleeping with your biggest enemy sounds illogical! It is hard to safely put up with the real source of the trauma but…

    Finding Peace and Healing: Sleeping with your biggest enemy sounds illogical! It is hard to safely put up with the real source of the trauma but…

    Cross-Border Collaboration: Uganda’s NWSC and Malawi’s LWB Forge Strong Ties in Urban Sewerage Management

    Cross-Border Collaboration: Uganda’s NWSC and Malawi’s LWB Forge Strong Ties in Urban Sewerage Management

    ROARING MAJESTY: Taking You Around the Wilderness Trenches and Unravelling the Epic Saga of the King of The Jungle and His Fight for Survival

    ROARING MAJESTY: Taking You Around the Wilderness Trenches and Unravelling the Epic Saga of the King of The Jungle and His Fight for Survival

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

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Stanbic Escapes Covid with UGX162Bn Profits, Breathes UGX1.4Tns into Economy, Grows Deposit Base to UGX1.6Trns!

August 22, 2022
inBusiness
Stanbic Escapes Covid with UGX162Bn Profits, Breathes UGX1.4Tns into Economy, Grows Deposit Base to UGX1.6Trns!

Performer CEO: Ann Jjuuko (Courtesy Photo)

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Uganda’s leading financial institution, Stanbic Bank’s half year books of accounts are really impressive and mouth-watering as well. That the bank has pulled this big feat in the face of the business deter in Corona Virus, makes Stanbic’s sweet story even sweeter. Let us now go ahead and present the figures, for figures speak louder than words, and the same don’t lie too.

Stanbic has put into the economy a staggering one trillion plus over four hundred billion shillings via loans issued out in just the past six months under review. The biggest beneficiary of the generous Stanbic in terms of loans has been the manufacturing sector. While many banks are averse to putting money into the agriculture, fortunately, Stanbic isn’t one amongst such banks. For that matter, they lent to the agriculture sector of the economy, a staggering three hundred and twenty-three billion and in only six in six months. This would make agriculture to be the third beneficiary of Stanbic’s big generosity next only to manufacturing and trade in that order

Trade ate out of the generous palms of Stanbic too. This, as evidenced by the sector’s take home of a six hundred and four billion shillings in loans. While going about helping our economy with hundreds of billions of cash, the bank was also justifiably making money. To this end, the bank made a cool one hundred and sixty-two billion shillings in profit. Up from one hundred plus one hundred and fifty-eight billion shillings recorded over the same period last year. Not only those dear readers. Stanbic has also managed to up its deposits from five hundred and seven trillion, to a staggering six and two trillion shillings.

Food for thought: What then does this statement from Stanbic tells to us? That the bank is strong than even plagues such as Corona Virus. It would thus follow as day follows night that Stanbic is the bank of choice than any other around. Don’t argue, for, figures do not tell a lie. The how’s! Stanbic has learnt over time not to put all their eggs in one basket. So, the bank has been putting a lot of emphasis into diversification. The other ventures which the bank has put up already and counting, include Stanbic Properties. The other is SBG Securities. Uganda Stanbic Business Incubator is the third one. Fly Hub Uganda is yet another one.

Let’s now here from the horses’ own mouths themselves. Stanbic’s Chief Executive, Ann Juuko shares how the six months has been a mixture of head and tail of wind. Such wind has affected both the global and local economy and all sectors of the economy. “We resolved to focus on delivery of products and solutions attuned the times keeping the customer at the center and being relevant to the community we serve,” Juuko offers.

Juuko reasons that doing the foregoing, has helped them to join hands with the customer to help recovery of the economy as a whole. Fellows Chief Executive, Andrew Mashanda while agreeing with Juuko, that the sister ventures which the bank has been going into, have helped the bank to make more money and staying afloat in face of storms such as Corona Virus. Congratulations everyone at Stanbic. May you keep prospering and continue to prove to the doubters that you are the bank of choice as you assist our economy to grow bigger and bigger as you too grow bigger and bigger.

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Robert Ndawula
Uganda's First online News Paper. "More than Just News" Investigative, Informative, without Fear or Favor
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