Standard Chartered Bank opens up a branch in Kikuubo

Kampala, 06th June, 2008: Standard Chartered Bank today accomplished yet another milestone by opening up a new branch and SME center in Kikuubo aimed at bring banking closer to its SME customers in the down town area of Kampala. This initiative is in line with the Bank’s commitment to be the Right Business Partner and a response to the voice of its customers. This is a giant step towards making the Banking services more accessible, convenient and flexible.

The branch will open Everyday All Week, Monday to Sunday until 7pm while the SME center will act as a one stop shop for all SME products, services, solutions and experts.

Speaking at the opening, the CEO, Standard Chartered Bank, Lamin Manjang expressed gratitude to the regulators, customers, staff and all the other stakeholders for their support and loyalty. He added that Standard Chartered Bank pledges its continued commitment to be and remain the right business partner. He said:

“The move to Kikuubo is simply a confirmation of our commitment to the growth and development of SMEs. One of the most striking recent socio-economic trends in Africa has been the rapid increase in the number of Small Medium Enterprises (SMEs) starting up and a rapid increase in the number SMEs generating sustainable profits. We believe that SMEs currently account for between 30-60% of African GDP and that they will be the main driver of sustainable economic growth in Africa over the next 10 years. In Uganda, SMEs remain the engine of the economy contributing to over 75% of the country’s GDP. At Standard Chartered Bank we are proud to be part of this great evolution of the SME sector in Uganda and Africa as a whole. We acknowledge that the financial services industry is naturally vital in supporting SMEs at critical junctures in the development of their business. We shall continue using our international expertise to remain relevant to our customers by remaining at the forefront of both product and service innovation.” He concluded.

Officiating at the opening, James Mulwana, The Chairman Board of Directors, Standard Chartered Bank, stressed the Bank’s commitment to bringing services closer to where they are needed. He commended the bank on its responsiveness to the voice of its customers.

“We are proud of the values which define the way we live and do our business. In living these values we have the courage to do what we think is right. We make sure that our style and actions reflect our international standing and aspirations. We endeavor to be responsive to our customer’s needs. We work tirelessly to create solutions which help to make our clients successful and good governance and trustworthiness is essential ingredient in everything we do,” said Mr. Mulwana.

The Ag. Head of Consumer Banking, Grace Muliisa, concluded by confirming the Bank’s commitment to it’s customers across their network, and especially to the SME customers saying:

“With our enhanced SME business model and product range, we believe we have positioned ourselves to fully address the requirements of the SME sector going forward.”

In addition to Kikuubo branch, the Bank has extended its reach to other areas. The Bank has moved to Ntinda, being one of the fastest growing towns in Kampala and Gulu to be part of the Northern Uganda reconstruction process. The Bank has also installed additional ATMs in 5 different locations in Kampala: Total Kireka, Shell Rubaga Road, Quality Supermarket Lubowa, Total Entebbe and Capital shoppers, Nakawa.

For more information, please contact:

Herbert Zake
Head of Corporate Affairs, Standard Chartered Bank Uganda Limited
Tel: 041 258211-7/ Extension 4283 Mobile: 071 2 760290
Direct telephone lines: +256 414 348775 or +256 312 294283
Email: Herbert.Zake@ug.standardchartered.com