All About Stanbic Bank Uganda

Group History

In June 1857, a group of businessmen attempted to establish the Standard Bank of Port Elizabeth. Nothing came of the venture, presumably because investors were wary of the two existing banks in Port Elizabeth. But the dream was pursued and John Paterson, the man behind the idea, sailed to England to encourage British investors to support the scheme.
Paterson's efforts were successful and in April 1860, a prospectus for The Standard Bank of British South Africa was published in London.

Two years after the appearance of its prospectus, The Standard Bank of British South Africa was established. On 15 October 1862 the bank was incorporated and registered as a limited liability company. Its capital was fixed at ₤1,000,000 with 10,000 shares of ₤100 each.

Operations commenced immediately in London and by January 1863 the bank’s agents in Port Elizabeth and Alexander Croll & Company were discounting bills. Over the next 50 years a branch network was established throughout southern Africa. The Port Elizabeth office was to remain Standard Bank's South African headquarters for 23 years.

In 1883, the word "British" was dropped from the name.

In 1962, a subsidiary company was formed to carry business in South and South West Africa (now Namibia) under the bank's old name. The name Standard Bank Limited was adopted for the holding company in England (subsequently to become Standard Chartered Bank plc).

Standard Bank Group was established in 1969 as Standard Bank Investment Corporation - the holding company of SBSA.

Standard Chartered sold its 39% stake in Standard Bank Group in 1987, transferring complete ownership of the holding company to South Africa.

The re-establishment of Standard Bank's African links began in 1988, with the establishment of a branch in Swaziland.

In 1991 Standard Bank established a bank in Botswana and acquired ANZ Grindlays operations in Botswana, Kenya, Uganda, Zaire, Zambia and Zimbabwe, and minority holdings in banks in Ghana and Nigeria.
The group also expanded further afield. Standard Bank London was established in 1992 and in the same year, operations in Jersey and the Isle of Man were acquired. Two years later, the Isle of Man presence was broadened considerably with the acquisition of Standard Chartered's banking activities on the island. Standard Bank also has a full branch in Taipei and full bank status in Russia, Hong Kong, Singapore and Brazil.

Standard Bank Group then acquired Jardine Fleming Bank Limited in July 2001.

Standard Bank entered into an agreement in 2005 to buy BankBoston Argentina from Bank of America.

The integration of Capital Alliance Holdings Limited into Liberty Life is on track and benefits are beginning to be extracted.

Today…
Standard Bank Group is now Africa’s leading banking and financial services group and trades as Stanbic Ban k in Uganda and throughout most of the African continent except in South Africa, Namibia, Mauritius, Mozambique and Swaziland where it trades as Standard Bank.

Stanbic Bank and Standard Bank are part of the Standard Bank group, Africa’s leading provider of financial services. Based in Johannesburg, South Africa, the Standard Bank group is listed on the Johannesburg Securities Exchange.

With offices in 18 African countries, comprising over 1 000 points of representation, the Standard Bank Group has the largest presence of any African bank on the continent.

A comprehensive range of wholesale and retail services is available through our representative Stanbic Bank offices in Angola, Botswana, Democratic Republic of Congo, Ghana, Kenya, Malawi, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe, and as Standard Bank in Lesotho, Mauritius, Mozambique, Namibia, South Africa and Swaziland.

We also have representation in 20 countries outside of Africa, including the key financial centres of Europe, North America and Asia.

Part of our offering to our corporate and institutional clients is the provision of cash management and related services. Our strong global transactional banking presence extends across markets world-wide, mostly notably in Africa and more recently Argentina.

In areas where we do not have a physical presence, we partner with leading banks to offer cash management products to help you manage your cash more efficiently and gain a clear competitive advantage.