Standard Bank (of South Africa) operates as Stanbic in other parts of Africa.
Here’s a snapshot comparison of the 2006 financial results of Stanbic Kenya and Stanbic Uganda.
Stanbic Kenya is unlisted while several Kenyans participated in the 2006 Stanbic Uganda IPO which was relatively cheap owing to the exchange rate difference (25:1) between Kenya and Uganda. The Stanbic (UG) IPO was partly blamed for the performance of the Mumias (Kenya) rights issue whose uptake was judged to be average.
Merger talks between Stanbic (K) and CFC which is another locally listed Kenyan bank are at an advanced stage. So how do the bank’s compare?
Approximate figures in US$
Rank
Uganda Stanbic (1 in Uganda)
Kenya Stanbic (9 in Kenya)
CFC (10)
Assets
Uganda Stanbic $725 million
Kenya Stanbic 378 million
CFC 371 million
Deposits
Uganda Stanbic $513 million
Kenya Stanbic 289 million
CFC 271 million
Loans
Uganda Stanbic $195 million
Kenya Stanbic 166 million
CFC 220 million
Pre-tax Profits
Uganda Stanbic $32.3 million
Kenya Stanbic 13.4 million
CFC 9.9 million
