Stanbic Uganda to announce another double century for 2018

March 27, 2019 in Business, Finance by Editor

March 27—Listed lender, Stanbic Bank Uganda (SBU), will on Thursday announce its annual results that are expected to better the record UGX 200 billion ($53 million) net profit reported for financial year 2017. That was an improvement from 2016 when SBU posted a UGX 191 billion profit.

Meanwhile, SBU parent, Standard Group based in South Africa, on Wednesday announced signing on Amazon Web Services its preferred cloud provider. This will entail migrating its production workloads, including its customer facing platforms and strategic core banking applications to the cloud.

Sim Tshabalala, Group CEO of Standard Bank said in a statement, “Our vision is to be Africa’s leading financial services organization and to achieve this we have chosen to work with the world’s leading cloud. For Standard Bank Group to remain a leader in African financial services, we recognize we need to adopt a cloud-first approach to our business. AWS Cloud technology will create a springboard for Standard Bank Group, helping us to rapidly roll out our digitization and data strategy to better cater to customers whose needs are constantly evolving.”

He said the combination of AWS rapid agility and high levels of security, combined with Standard Bank’s customer obsession and desire to constantly raise the bar, allow the Group to build Africa’s financial services organisation of the future and to be positioned as more than a bank.