In 1991, Standard Bank Group (The Group) acquired Grindlays Bank. The new owners renamed the Ugandan subsidiary, Stanbic Bank Uganda Limited (SBUL).

In February 2002, the Group acquired 90% of the shareholding in Uganda Commercial Bank Limited, a government-owned bank with sixty-five branches. The Group merged their new acquisition with the existing Stanbic Bank (Uganda) Limited, to form Uganda’s largest commercial bank by assets and branch network.

In November 2007, the Government of Uganda divested its ownership in Stanbic Bank Uganda by listing its shares on the Uganda Securities Exchange. The Group also floated 10% of its shareholding at the same time, retaining an ownership stake of 80%.

In 2018, the Bank started the process of reorganising its corporate structure to include a holding company. On 31st May 2018, the Bank obtained shareholder approval, and later regulatory approvals to change it’s name from Stanbic bank Uganda Limited, to Stanbic Bank Holdings Limited, as part of the reorganisation process. This name change became effective on 28th November 2018.

The reorganisation process will culminate into the Bank known as SBUL being wholly owned by the holding company Stanbic Uganda Holdings Limited (SUHL). Over time SUHL will incorporate or acquire other businesses