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Stanbic Bank, Uganda Annual Report 2016

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Stanbic Bank, Uganda Annual Report 2016 Stanbic Bank Uganda Limited Annual Report 2016 i Stanbic Bank Uganda is part of the Standard Bank Group, Africa’s largest bank measured by footprint, profits and assets. The Standard Bank Group has on-the- ground representation in 20 African countries. Stanbic Bank Uganda has a wide network of branches and has been offering a full spectrum of financial services and products to the Retail and Corporate segments for 26 years. Our report This is the Stanbic Bank Uganda Limited (SBUL) annual report that includes financial and non-financial information. The financial results and commentary describe the results of SBUL which is a majority owned subsidiary of the Standard Bank Group and locally incorporated in Uganda. Contents 1 About Stanbic Bank Uganda Limited 10 Business review 38 Risk review 46 Sustainability 86 Corporate governance 100 Independent auditors report 104 Financial statements and notes 156 Supplementary information Stanbic Bank Uganda Limited Annual Report 2016 iii About Stanbic Bank Uganda Limited Stanbic Bank Uganda Limited Annual Report 2016 iv 2 Who we are 3 Our Bank 4 Our vision and values 6 How we create value 8 Our products and services 9 Our locations Stanbic Bank Uganda Limited Annual Report 2016 1 ABOUT STANBIC BANK UGANDA LIMITED Who we are A brief history of our bank. SERVED BY The Bank was founded in Uganda as the National Bank of India in 1906. After several name NUMBER OF 1,802 EMPLOYEES changes, it rebranded to Grindlays Bank. In 1991, CUSTOMERS Standard Bank Group (The Group) acquired Grindlays Bank. The new owners renamed the HEADQUATERS 665,417 Ugandan subsidiary, Stanbic Bank (Uganda) Crested Towers Limited. Plot 17 Hannington Road In February 2002, The Group acquired 90% of Kampala 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 THROUGH OUR MAIN (Uganda) Limited, to form Uganda’s largest BUSINESS UNITS commercial bank by assets and branch network. Personal and In November 2007, the Government of Uganda Business Banking divested its ownership in Stanbic Bank (Uganda) & Corporate and by listing its shares on the Uganda Securities Investment Exchange. The Group also floated 10% of its Banking shareholding at the same time,retaining an ownership stake of 80%. WITH BRANCHES AND CUSTOMER SERVICE POINTS MARKET CAPITALISATION 82 1,280tn (LARGEST BANK BY THIS MEASURE IN UGANDA) ATMs 173 LISTED SHAREHOLDERS On the Uganda 22,535 Securities Exchange (USE) since 25 January, 2007 Stanbic Bank Uganda Limited Annual Report 2016 2 ABOUT STANBIC BANK UGANDA LIMITED Sub heading continued Third heading continued Our Bank (as at 31 December, 2016) SERVED BY NUMBER OF 1,802 CUSTOMERS EMPLOYEES HEADQUATERS 665,417 Crested Towers Plot 17 Hannington Road Kampala THROUGH OUR MAIN BUSINESS UNITS Personal and Business Banking & Corporate and Investment Banking BALANCE SHEET SIZE: WITH BRANCHES UShs 4.6tn AND CUSTOMER SERVICE POINTS MARKET CAPITALISATION 82 1,280tn (LARGEST BANK BY THIS MEASURE IN UGANDA) ATMs 173 LISTED SHAREHOLDERS On the Uganda 22,535 Securities Exchange (USE) since 25 January, 2007 Stanbic Bank Uganda Limited Annual Report 2016 3 ABOUT STANBIC BANK UGANDA LIMITED Sub heading continued Third heading continued Our vision “To be the leading African financial services organisation in, for and across Africa, delivering exceptional client experiences and superior value.” Purpose statement “Transforming lives for a better Uganda.” Stanbic Bank Uganda Limited Annual Report 2016 4 ABOUT STANBIC BANK UGANDA LIMITED Our values SERVING OUR CUSTOMERS We do everything in our power to ensure that we provide our customers with the products, services and solutions to suit their needs, provided that everything we do for them is based on sound business principles. GROWING OUR PEOPLE We encourage and help our people to develop to their full potential and measure our leaders on how well they grow and challenge the people they lead. DELIVERING TO OUR SHAREHOLDERS We understand that we earn the right to exist by providing appropriate long-term returns to our shareholders. We try extremely hard to meet our various targets and deliver on our commitments. BEING PROACTIVE We strive to stay ahead by anticipating rather than reacting, but our actions are always carefully considered. WORKING IN TEAMS We, and all aspects of our work, are interdependent. We appreciate that, as teams, we can achieve much greater things than as individuals. We value teams within and across business units, divisions and countries. CONSTANTLY RAISING THE BAR We have confidence in our ability to achieve ambitious goals and we celebrate success, but we must never allow ourselves to become arrogant. RESPECTING EACH OTHER We have the highest regard for the dignity of all people. We respect each other and what Stanbic Bank stands for. We recognise that there are corresponding obligations associated with our individual rights. UPHOLDING THE HIGHEST LEVELS OF INTEGRITY Our entire business model is based on trust and integrity as perceived by our stakeholders, especially our customers. Stanbic Bank Uganda Limited Annual Report 2016 5 ABOUT STANBIC BANK UGANDA LIMITED Sub heading continued Third heading continued How we create value We allocate capital to support Personal & Business Banking economic growth. We provide financial services. Provides banking and other financial services to individual customers and small- to medium-sized We do it with intergrity. enterprises. What we offer ••Mortgage lending ••Card products ••Transactional products ••Instalment sale and finance leases ••Lending products ••Banc assurance and wealth Corporate and Investment Banking Provides corporate and investment banking services to governments, parastatals, larger corporates, financial institutions and international counterparties. What we offer ••Trade Finance ••Cash Management ••Investment Banking (IB) ••Global Markets ••Project Finance Other FINANCE COMPLIANCE Measuring and managing financial Ensuring the Bank’s activities and conduct performance. comply with legal and regulatory requirements. HUMAN RESOURCES Acquiring, developing and retaining talent. TREASURY & CAPITAL MANAGEMENT Managing the Bank’s capital and liquidity, TECHNOLOGY AND OPERATIONS including ensuring we meet regulatory Providing the infrastructure and support for requirements and have sufficient capacity the Bank to effectively and efficiently carry of capital. out its activities. LEGAL RISK Maintaining a comprehensive legal risk Upholding the overall integrity of management system. the Bank’s risk/return decisions; ensuring that risks are assessed and controlled in AUDIT accordance with the Bank’s standards and Independently provides reasonable risk appetite. assurance to the Board Audit Committee that the risk, control and governance processes are adequate and effective. Stanbic Bank Uganda Limited Annual Report 2016 6 ABOUT STANBIC BANK UGANDA LIMITED Sub heading continued Third heading continued Personal & Business Banking UShs 46.3bn PROFIT AFTER TAX 2015: UShs 38.9bn 2016 2015 Return on equity 24.8% 24.9% Cost-to-income ratio 71.3% 69.9% Credit loss ratio 2.1% 2.3% Corporate and Investment Banking UShs 119.6bn PROFIT AFTER TAX 2015: UShs 97.0bn 2016 2015 Return on equity 48.4% 53.3% Cost-to-income ratio 38.9% 35.0% Credit loss ratio 1.5% 0.4% Other TCM UShs 25.2bn PROFIT AFTER TAX 2015: UShs14.8bn The detailed segmentation including Treasury and Capital Management (TCM) profit after tax UShs 25.2bn (2015: 14.8bn), can be found in the notes to financial statements under segment information in note 5. Stanbic Bank Uganda Limited Annual Report 2016 7 ABOUT STANBIC BANK UGANDA LIMITED Our Products & Services Corporate and Investment Personal and Business Services Banking (CIB): Transactional Banking (PBB): Products and Services Transactional Products and Services TRADE FINANCE PERSONAL AND BUSINESS - Internet Banking - Letters of Credit - Transact Plus - Mobile Banking - Bid Guarantees (local and foreign currency) - Business Online (BOL) - Performance Guarantees - Personal and Business - Point Of Sale (POS) - Advance Payment Guarantees Current Accounts - Automated Teller Machine (ATM) - Avalisation (local and foreign currency) - Debit and Credit cards - Import/Export Loans - Executive Banking (VISA enabled) - Invoice Discounting - Private Banking - PayPlus - payment services solution - Bills for Collection (water, electricity, pay TV, pension) SAVINGS AND INVESTMENTS CASH MANAGEMENT - PureSave - Cash in Transit (local and foreign currency) - Collect Plus (Courier) - Contract Save - Electronic Banking - Bonus Investment - Bill Payments - Fixed Deposit - Liquidity Management - Payments and Receivables Solutions LENDING (PERSONAL) - Salary Loan - Fixed Term Loan INVESTOR SERVICES - Revolving Term Loan - Custody - Revolving Line of Credit - Fiscal Agency - Re-finance Home Loans - Facility Agency - Building Loan - Equity Release Loan INVESTMENT BANKING (IB) - Vehicle and Asset Finance - Equity Capital Markets - Debt Capital Markets TRADE FINANCE - Advisory - Letters of Credit - Asset Finance - Bid Guarantees - Syndications - Performance Guarantees - Advance Payment Guarantees INTERNATIONAL DEVELOPMENT GROUP - Import/Export Loans - Invoice Discounting - Priority Suite LENDING (BUSINESS) GLOBAL MARKETS - Overdraft - Spot Foreign Exchange - Tax Loan - Forward Contract in Foreign Exchange - Agriculture Loan - Foreign Currency Options - Business Term Loan
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