The Meteoric Rise & Performance of Stanbic Bank Uganda under CEO Anne Jjuko
March 6, 2024
If Insider reports are true, that Stanbic Bank is bringing in “Thapelo Tsheole” by May 1, 2024, then only 1 Ugandan will be remaining as the CEO of the Top bank among the Top 6 Systematically Important Big Banks
Yesterday, Stanbic Bank Uganda officially announced the promotion of CEO Anne Juuko to regional Global Markets in charge of 7 East African Market.
Anne Juuko, who has been at the forefront since early 2020, after succeeding Patrick Meheirwe. She, in her very first four years, catapulted the company's Market Cap from UGX 1.3 trillion at the initial part of 2020 to an impressive UGX 1.66 trillion by the end of Feb 2024 and helping the share price to rise from the lows of UGX 20 a share to the current highs of UGX 32.5 a share.
Stanbic Uganda share price during Anne’s tenure.
Within just a 4-year span, Anne has helped to see Stanbic Bank’s total revenue grow by over 50% from the lows of UGX 831 billion in 2019/2020 to over the projected 1.3 trillion in December 2023 and maintaining its biggest Bank brand. No other Bank is coming close.
What can I say?, Stanbic Bank under Juuko has been akin to a perpetual money-making machine. Over the past six years (4 of which under CEO Anne Juuko), it has consistently amassed profits averaging more than UGX 250 billion after taxes. Taking 2022 alone as an example, the bank generated an astounding UGX 357 billion in profits. This level of financial triumph isn't just a one-off event. They aim to replicate, if not surpass, this success in 2023. The continuous value generation of this magnitude makes Stanbic Bank a stalwart force that powerfully impacts the Uganda Securities Exchange and makes a desired stock for every investor on the Stock Market.
Furthermore, the bank's Return on Equity (ROE) in 2022 was an impressive 21.6%, marking an upsurge of more than 100 basis points from the previous year and we are yet to see the results of the December 2023 which are anticipated to be ceiling shuttering for the Iron Lady in her last full year in charge of the biggest bank.
Anne Juuko has achieved so much in such a short time, and from all of us on the Kakande’s desk, we wish her incredible success in her new role in Nairobi.
Happy Investing!!
Alex Kakande