Best bank: Stanbic Bank Uganda
Stanbic Bank Uganda (SBU) turned in a strong performance over the review period. Net profit was USh421 billion ($110 million), up 18% from USh357 billion in 2022. Net loans increased to USh4 trillion, while deposits ended the year at USh6 trillion, both up 3% on 2022.
In 2023, more than 840,000 users accessed wallets via the bank’s retail digital offering, FlexiPay, up from 390,000 the year before. Transaction value reached USh464 billion.
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