Earnings Report /
Uganda

Stanbic Uganda: Non-interest revenue and cost containment help deliver strong earnings

  • In H1 21, Stanbic Uganda's non-interest revenue grew 27% yoy on higher trading and transaction income

  • Costs increased in H1 21 driven by investment in technology, but the bank's cost/income ratio remains stable

  • We reiterate our Buy recommendation as outlook on asset quality and earnings remains positive

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
10 August 2021
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