Top Banks in Uganda
Discover who are the key players in the banking and finance sector in Uganda. Marcopolis.net has ranked the top banks in the country. The list is composed of largest banks in Uganda.
Uganda’s
Top Banks | Largest Banks
Discover who are the key players in the banking and finance sector in Uganda. Marcopolis.net has ranked the top banks in the country. The list is composed of largest banks in Uganda.
| Rank | Company | Country | Sector | Description |
|---|---|---|---|---|
| 1 |
Stanbic Bank (U) |
Uganda | Banking and Finance | Stanbic Bank Uganda (SBU) is one of the 25 licensed commercial banks by the Bank of Uganda. The bank is a majority owned subsidiary of Stanbic Africa Holdings Limited, which is in turn owned by Standard Bank Group Limited. In February 2002, Standard Bank acquired 90 percent shareholding in the Uganda Commercial Bank, a government-owned retail banking operation, which had the largest branch distribution network in the country. The new owners merged their new acquisition with their existing SBU to form Uganda’s largest commercial bank by assets and branch network. In January 2007, the government of Uganda divested its ownership in Stanbic Bank (Uganda) by listing its shares on the Uganda Securities Exchange. Standard Bank also floated 10 percent of its shareholding at the same time, reducing their ownership to 80 percent. The bank then became Stanbic Bank Uganda Limited. It is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. |
| 2 |
Centenary Rural Development Bank |
Uganda | Banking and Finance | Centenary Bank is a commercial bank licensed by the Bank of Uganda, the central bank and national banking regulator. It was founded in 1983. The bank is a large financial services provider in Uganda. It is primarily involved in the promotion of development through loans to rural farmers, processors of agricultural produce, small traders, small manufacturers, importers and exporters. While engaged in all areas of commercial banking, the bank has a significant portion of its portfolio in the microfinance arena in an attempt to meet the needs of the many individuals and business entities with limited means. As of December 2018, the bank’s assets were UGX:3.171 trillion (US$862 million), with shareholders’ equity of UGX:643.69 billion (US$175 million). |
| 3 |
Standard Chartered Bank Uganda |
United Kingdom | Banking and Finance | Standard Chartered Bank Uganda Limited is an international bank with a history spanning over 106 years of existence in the Ugandan market, having opened its doors in 1912, making it the longest established commercial bank in the country. It currently has a total of 8 branches in Kampala and Jinja, 32 ATMs, 2 digital banking outlets located at Shell Ntinda and Shell Kaazi, 5 cash deposit machines and a staff complement of over 530. The bank is focused on 3 main business segments: retail banking, commercial banking and global banking. Standard Chartered Bank Uganda is a wholly owned subsidiary of the Standard Chartered Bank Group, an international financial services conglomerate, headquartered in London in the United Kingdom. |
| 4 |
Absa Bank Uganda |
United Kingdom | Banking and Finance | Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is primarily involved in meeting the banking needs of individuals, small and medium-sized businesses (SMEs) and large corporations. Before 2006, the bank focused on meeting the banking needs of only large corporations and high-net-worth individuals. That focus was loosened to include SMEs and regular customers. As of December 2017, the bank’s total assets were valued at UGX:2.477 trillion (approximately US$668 million), with shareholders equity of UGX:448.2 billion (approximately US$121 million). |
| 5 |
DFCU Bank |
Uganda | Banking and Finance | A subsidiary of DFCU Limited, DFCU Bank is a leading banking and financial services company domiciled in Uganda. It came into existence in May 2000 following DFCU’s acquisition of Gold Trust Bank to extending universal banking services alongside the pre-existing equity finance; long term development finance; leasing and working capital finance. The bank operates 67 branches and 100 automated teller machines. In 2004, DFCU Limited went public subsequently being listed on the Uganda Securities Exchange in October 2004. |
| 6 |
Diamond Trust Bank Uganda |
Uganda | Banking and Finance | Diamond Trust Bank (DTB) is a leading regional bank, listed on the Nairobi Securities Exchange (NSE). An affiliate of the Aga Khan Development Network (AKDN), DTB has operated in East Africa for over 70 years. DTB’s focus on the SME sector and commitment to enhancing convenience for customers through branch network expansion has driven the bank’s growth in recent years. Diamond Trust Bank has over 130 branches in Kenya, Tanzania, Uganda and Burundi. |
| 7 |
Bank of Baroda (U) |
Uganda | Banking and Finance | Bank of Baroda (U) Ltd started its operations in 1953 by opening its first branch in Kampala. Later on, it was incorporated as subsidiary of Bank of Baroda (India) with 49% shareholding of the government of Uganda. Under privatization move of the government, parent bank – Bank of Baroda (India) became the sole owner by taking over 49% shareholding of the government of Uganda in 1999 and divested 20% shares to public in 2002. Bank of Baroda (U) Ltd was the first financial institution in the country to list its shares at the Uganda Securities Exchange. |
| 8 |
Citibank Uganda |
United States | Banking and Finance | Citibank Uganda is a commercial bank in Uganda operating as a wholly owned subsidiary of New York-based Citigroup. With a presence in the country since 1999, Citibank Uganda Limited (CUL) is one of the most innovative corporate banks in Uganda. Its corporate banking business is one of the largest in the country, serving over 250 clients, active in diverse sectors of the economy. Citibank has had a significant involvement in Uganda for many years in areas such as correspondent banking, trade finance and corporate finance, initially through its non-presence countries (NPC) business, until when the branch was opened in 1999. |
| 9 |
Bank of Africa (U) |
Mali | Banking and Finance | Bank of Africa (U) started its operations in Uganda in 1985 as small deposit-taking private company within a family conglomerate. In 1991, it evolved into an investment bank. By 1996, it was granted a commercial banking license. In Uganda, the bank operates 34 branches across the country. Over the last 5 years, Bank of Africa (U) has enjoyed a healthy growth – roughly a cumulative annual growth rate of about 17% in total assets, customer deposits and credit. The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Mali, with presence in 31 countries. |
| 10 |
Pride Microfinance |
Uganda | Banking and Finance | Pride Microfinance Ltd (MDI) (Pride) is a microfinance deposit-taking institution (MDI) regulated and supervised by the Bank of Uganda (BoU). From inception, Pride has grown to become the leading MDI in Uganda, providing innovative financial solutions to the economically vulnerable people. Pride serves its customers through 34 networked branches spread across the country and 8 contact offices. As of end of December 2018, Pride had 521,210 customers and 766 staff. |