Stanbic Bank Uganda Ltd. is a subsidiary of Stanbic Africa Holdings Ltd., which, in turn, is owned by the Standard Bank Group Ltd.
The bank was founded in Uganda as the National Bank of India in 1906. After several name changes, it became Grindlays Bank. In 1991, Standard Bank bought the Grindlays Bank network in Africa. The new owners renamed the bank Stanbic Bank (Uganda) Limited
Stanbic Bank (Uganda) Limited is licensed as a merchant banker, stockbroker and financial adviser by the Uganda Capital Markets Authority, which licensed the Uganda Securities Exchange in 1997.
In February 2002, Standard Bank bought Uganda Commercial Bank, a largely retail government-owned bank that operated a countrywide network consisting of 67 branches. Standard Bank merged the new outfit with its existing bank called Stanbic Bank (Uganda) Limited. The government of Uganda retained 10 percent ownership in the new combined bank. In November 2005, the government divested of their 10 percent ownership by floating their shares on the Uganda Securities Exchange. Standard Bank also floated 10 percent shareholding at the same time.
Website: https://www.stanbicbank.co.ug/
