The 8 Biggest Banks In Uganda

(Last Updated On: May 20, 2016)

Uganda is an East African country with a population of around 40 million people served by around 25 commercial banks. It has a GDP per capita of around $750. The banking penetration stands at around 44% thanks to presence of mobile money, without it the penetration falls to around 20-30% of the adult population with active bank accounts. The 8 largest banks in Uganda dominate around 75% of the total banking assets.

Here is a list of the biggest banks: (Asset size are based on end of 2015)

1.Stanbic Bank Uganda

stanbicbank

This is the biggest bank in Uganda with around 20% market share. It is a member of the South African Standard Bank Group with over Ugsh3.8 Trn ($1.1bn) in assets. It is one of the largest retail and corporate bank in the country with around 93 branches. Its 2015 net profit stood at Ugsh150.8bn ($40m) while revenues were UgSh532bn ($160m). It has the highest amount of deposits in Uganda of around UgSh3.1Trn ($920m).

 

2. Standard Chartered Bank Uganda

standard chartered uganda

This is the second largest bank in Uganda which mainly focuses on large companies but still does retail and SME. It has a 15% market share of the banking assets with a total of 18 branches. Asset size stands at around UgSh2.68Trn ($0.8bn) while its 2015 revenues were around Ugsh419bn ($0.12bn).

 

3. Centenary Bank

centenary bank uganda

This is the largest indigenous bank in Uganda with assets of around Ugsh2Trn ($0.6bn). It has over 60 branches across Uganda mainly serving microfinance, small businesses, farmers, traders, small manufactures and individuals. It has around 1.3million savings accounts plus 40,000 current accounts.

 

4. Crane Bank

Crane uganda

This is now the second largest indigenous bank in Uganda with around Ugsh1.8Trn ($0.53bn) in assets. It has over 750,000 customers housed across its 45 branches across Uganda.

 

5. Barclays Bank Uganda

barclays uganda

This is one of the oldest banks in Uganda which used to be exclusively for corporates and high net worth individuals until the early 2000s where it opened its doors to SMEs and other retail customers. It has around Ugsh1.6Trn ($0.47bn) in assets with 42 branches plus 71 ATMs all over the country.

 

6. DFCU – Development Finance Company Of Uganda

DFCU

It has around Ugsh1.6Trn ($0.47bn) in assets with a market share of around 5%. It has around 45 branches

 

7. DTB Uganda

DTB

This is a member of the Diamond Trust Bank Group controlling around 4% of the assets in the banking industry. Total assets stood at around Ugsh1.3trn ($0.39bn) with around 33 branches. Mainly serves SMEs, individuals and large corporates.

 

8. Bank of Baroda

bank of baroda uganda

It has over Ugsh1.2trn ($0.36bn) in assets and has been in Uganda for over 6 decades. It has so far opened only 17 branches.