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Created with Sketch. 2020 Stanbic Uganda Holdings Limited Annual Report

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Created with Sketch. 2020 Stanbic Uganda Holdings Limited Annual Report Stanbic Uganda Holdings Limited ANNUAL REPORT AND FINANCIAL STATEMENTS 2020 Stanbic UgandaStanbic Uganda Holdings Limited A member of StandardAnnual report Bank Group and financial statements year ended 31 December 2020 2 ABOUT SUHL SECTION HEADING CONTINUED ABOUT SUHL SECTION HEADING CONTINUED 3 Contents ABOUT STANBIC UGANDA CORPORATE GOVERNANCE Describes our approach to good Introduces Stanbic Uganda Holdings HOLDINGS LIMITED(SUHL) governance, the remuneration policy Limited and its subsidiaries (together 106 Board of Directors and implementation report. Includes 6 About This Report ‘the Group’ or ‘Stanbic Uganda 108 SBUL Executive Committee information on how the group 7 Overview Group’), our competitive advantages, 110 SUHL Executive Committee applies the principles of the King 9 Who We Are which frames our value story. 112 Corporate Governance 10 Standard Bank Group Footprint Statement IV™ Report on Corporate 11 Stanbic Bank Footprint in Uganda 121 Remuneration Report Governance. 123 Report of the Audit and Risk LEADERSHIP INSIGHT Our leaders discuss the dynamics in Committee our markets and how these are 125 Directors’ Report 14 Chairman’s Statement influencing our strategic priorities and 126 Statement of Directors’ Responsibilities 18 Chief Executive’s Statement our progress in achieving them. Connects the emerging trends INDEPENDENT HOW WE CREATE VALUE affecting our business and our AUDITOR'S REPORT continent, and the issues that matter 24 How We Create Value 127 Independent Auditor's Report 26 Our Strategy most to our stakeholders, to how we 28 Measuring Our Strategic Progress are accelerating our strategy and organising Group to deliver sustainable shared value. FINANCIAL STATEMENTS AND NOTES BUSINESS REVIEW 132 Consolidated & Separate Income Statement 133 Consolidated & Separate Statement of 32 2020 at a Glance Comprehensive Income 33 2020 Awards 134 Consolidated & Separate Statement of Looks at our performance for the 33 Stanbic Bank’s Credit Rating Financial Position year and prospects for the year 34 Operating and Financial Review 135 Consolidated & Separate Statement of 37 5 Year Performance ahead in relation to our strategic value drivers. Changes in Equity 38 Key Performance Indicators 137 Consolidated & Separate Statement of 40 Business Unit Reviews Cash Flows • Corporate & Investment banking 138 Notes to the Consolidated & • Personal & Business banking Separate Financial Statements RISK MANAGEMENT AND SUPPLEMENTARY INFORMATION CONTROL 204 Shareholder Analysis 46 Chief Risk Officer’s Statement 204 Key Shareholder Information This section provides information on 47 Risk Governance 205 SUHL Notice of Annual General Meeting Our risk universe and approach to our shareholding structure and 49 Enterprise Risk Management Process 206 Proxy Form risk management and control. shareholder relevant documents 207 Our Products and Services 50 Risk types in Banking Activities such as the AGM Notice, the Proxy 208 Our Branches Countrywide. 54 Risk Appetite and Stress Testing Form and the company contact 55 Emerging Enterprise Risks 209 Customer Service Points information. 210 List of acronyms 211 Financial Definitions SUSTAINABILITY REPORT 212 Company Information and Contact Details 60 Introduction Assessment of Stanbic Uganda’s 68 Contributing to Sustainable Economic GrowthSocial, Economic and Environmental 78 Building a Responsible Business (SEE) impacts. 99 Reporting Practices Stanbic Uganda Holdings Limited Stanbic Uganda Holdings Limited Annual report and financial statements Annual report and financial statements year ended 31 December 2020 year ended 31 December 2020 4 ABOUT SUHL ABOUT SUHL 5 ABOUT STANBIC UGANDA HOLDINGS LIMITED Stanbic Uganda 06 07 09 10 11 About This Organisation Who We Are Standard Bank Stanbic Bank Report Structure Group Footprint in Footprint Uganda Stanbic Uganda Holdings Limited Stanbic Uganda Holdings Limited Annual report and financial statements Annual report and financial statements year ended 31 December 2020 year ended 31 December 2020 6 ABOUT SUHL ABOUT THIS REPORT ABOUT SUHL ORGANISATION STRUCTURE OVERVIEW 7 Organisation Structure Overview STANDARD BANK GROUP* Stanbic Africa Minority Holdings Limited Shareholders (80% (20% Ownership) Ownership) Stanbic Uganda Holdings Limited (SUHL)** Stanbic Bank Stanbic Stanbic SBG FLYHUB Uganda Limited Properties Business Securities Uganda Limited Limited Incubator Limited Uganda Limited (Fintech) 100% Commercial Real Estate SME Securities Transformation (ownership) Banking Business Business training and Trading of Financial (Incorporated development (Incorporated services 2020) (Incorporated 2020) (Incorporated 2020) 2020) * Listed on the Johannesburg Stock Exchange ** Listed on the Uganda Securities Exchange About this Report This is the Stanbic Uganda Holdings The scope of the information Stanbic Uganda Holdings Limited is part Limited (SUHL) Annual Report that presented is largely medium term. of the Standard Bank Group, Africa’s covers the period 1 January to 31 it accesses the opportunities, risks largest Bank measured by footprint and December 2020. It includes both and impacts influencing our ability to assets. Standard Bank Group has on- financial and non-financial information. create sustainable shared value as we the-ground representation in 20 African This report majorly focuses on the begin to realise our midterm vision, countries while SBUL has a wide network banking subsidiary - Stanbic Bank while delivering on our purpose. This of branches and has been offering a Uganda Limited (SBUL) which was the report is prepared for SUHL’s different wide spectrum of financial services and main operational entity throughout the stakeholders with detailed information products to the retail and corporate period under review. about who we are, our strategy, segments for the past 30 years. our performance, governance and This report also includes additional expectations for the future in context of information up to the date of Board of the environment we operate in. Directors approval on 26 march 2021. Stanbic Uganda Holdings Limited Stanbic Uganda Holdings Limited Annual report and financial statements Annual report and financial statements year ended 31 December 2020 year ended 31 December 2020 8 ABOUT SUHL OURSECTION PURPOSE HEADING CONTINUED ABOUT SUHL WHO WE ARE 9 Our Purpose Uganda is our home and we drive her growth Who We Are A brief history of Stanbic Uganda Holdings Limited (SUHL) Stanbic Uganda Holdings Limited In November 2007, the followed by a hive down of the traces it’s history in Uganda as Government of Uganda divested its banking business from the bank (at a commercial bank called the ownership in Stanbic Bank Uganda the time) to a newly incorporated National Bank of India (NBI) in by listing its shares on the Uganda banking subsidiary. 1906. After several name changes, Securities Exchange. Standard NBI rebranded to Grindlays Bank. Bank Group also floated 10% of The reorganisation process In 1991, Standard Bank Group its shareholding at the same time, was finally completed when the (SBG) acquired Grindlays Bank. retaining an ownership stake of transfer of the banking business The new owners renamed the 80%. was effected on 1 April 2019 Ugandan subsidiary, Stanbic Bank with a holding company, Stanbic Uganda Limited (SBUL). In 2018, the Bank started the Uganda Holdings Limited (SUHL process of reorganising its or the Company) and one wholly In February 2002, SBG acquired corporate structure to include a owned subsidiary Stanbic Bank 90% of the shareholding in Uganda holding company. The rationale for Uganda Limited (SBUL). As of Commercial Bank Limited, a the reorganisation was to enable 31st December 2020 , SUHL had Government-owned bank with the entity to undertake other non- four additional subsidiaries i.e sixty-five branches. SBG merged banking financial and non-financial Stanbic Properties Limited, Stanbic their new acquisition with the services that would be established Business Incubator Limited, existing SBUL, to form Uganda’s through the holding company. The FLYHUB Uganda Limited and SBG largest commercial bank by assets reorganisation was to be effected Securities Uganda Limited. and branch network. through the transformation of the bank into a holding company Facts about Stanbic Uganda Holdings Limited as at 31 December 2020 Total Assets Employees Market Capitalisation Shareholders UShs 8.6tn 1,612 UShs 1.18tn 22,517 Headquarters Point of Sale Machines Bank Agents Crested Towers, Plot 17 Hannington Road, Kampala 958 2,591 Cash dispensers 121 ATMs Intelligent ATMs 171 32 Branches Customer Service Customers Points Cash deposit machines 69 559,145 21 11 Stanbic Uganda Holdings Limited Stanbic Uganda Holdings Limited Annual report and financial statements Annual report and financial statements year ended 31 December 2020 year ended 31 December 2020 OUR COUNTRY-WIDE FOOTPRINT 10 ABOUT SUHL SBGSECTION FOOTPRINT HEADING CONTINUED ABOUT SUHL SBUL FOOTPRINT 11 We offer a range of corporate, commercial, Standard Bank Group Stanbic Bank personal and business banking financial services through an extensive network of branches, ATMs, Point of Sale machines and Footprint Footprint in banking agents across the country. Uganda Our Banking presence across Uganda North Branches 69 East Greater Customer Service Kampala Points West Metro 11 3 7 1 2 6 8 9 4 10 East Nakivubo Branch North Kalangala Branch 5 15 13 Busia Branch Nateete Branch Adjumani Branch Kisoro Branch Iganga Branch Wandegeya Branch Apac Branch Kyotera Branch 16 17 14
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