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Stanbic Bank Uganda Limited Listed on the USE

Category: World of Business


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Stanbic Bank Uganda Limited Listed on the USE

January 28, 2007/FirstGlobalSelect

 

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>&nbsp;</SPAN></P>
<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><?xml:namespace prefix = o ns = \"urn:schemas-microsoft-com:office:office\" /><o:p></o:p></SPAN></P>

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Last week </SPAN><?xml:namespace prefix = st1 ns = \"urn:schemas-microsoft-com:office:smarttags\" /><st1:date Month=\"1\" Day=\"25\" Year=\"2007\"><SPAN lang=EN-GB>Thursday, Jan 25, 2007</SPAN></st1:date><SPAN lang=EN-GB>, the Uganda Securities Exchange (USE) witnessed the official listing of Stanbic Bank Uganda Limited, with its share price opening at Ushs 150 per share, oscillating to a high of Ushs 240 per share before closing the session at Ushs 205 per share.

 

The counter recorded a total turnover of Ushs 4,718,169.</SPAN></P>
<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Stanbic Bank in </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>Uganda</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB> is part of one of </SPAN><st1:place><SPAN lang=EN-GB>Africa</SPAN></st1:place><SPAN lang=EN-GB>\'s leading banking and financial services group, Standard Bank.<o:p></o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><o:p>&nbsp;</o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Standard Bank, based in Johannesburg, South Africa, has total assets of about US$81 billion and employs about 35 000 people worldwide. Its network spans 17 sub-Saharan countries (including </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>South Africa</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB>) and extends to 21 countries on other continents, including the key financial centres of </SPAN><st1:place><SPAN lang=EN-GB>Europe</SPAN></st1:place><SPAN lang=EN-GB>, the </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>United States</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB> and </SPAN><st1:place><SPAN lang=EN-GB>Asia</SPAN></st1:place><SPAN lang=EN-GB>. In addition to banking, Standard Bank has a strategic interest in the insurance industry through its control of the Liberty Group, one of </SPAN><st1:place><SPAN lang=EN-GB>Africa</SPAN></st1:place><SPAN lang=EN-GB>\'s leading life offices and financial services groups.<o:p></o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><o:p>&nbsp;</o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>The bank was founded in </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>Uganda</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB> as the National Bank of </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>India</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB> in 1 906, which after several name changes became Grindlays Bank. When the Standard Bank Group bought the Grindlays\' network in </SPAN><st1:place><SPAN lang=EN-GB>Africa</SPAN></st1:place><SPAN lang=EN-GB> it also, in October 1993, re-established a connection with </SPAN><st1:country-region><st1:place><SPAN lang=EN-GB>Uganda</SPAN></st1:place></st1:country-region><SPAN lang=EN-GB>.<o:p></o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>Stanbic Bank is licensed as a merchant banker, stockbroker and financial adviser by the Uganda Capital Markets Authority, which licensed the Uganda Securities Exchange in June 1997.<o:p></o:p></SPAN></P>

 

<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style=\"MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify\"><SPAN lang=EN-GB>In February 2002, Stanbic Bank bought 90% shares into Uganda Commercial Bank - <I><SPAN style=\"COLOR: silver\">FirstGlobalSelect</SPAN></I></SPAN></P>



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