Standard Chartered Uganda retail customers and wealth clients now bank with Absa Bank Uganda Limited. The sale of the bank’s Wealth and Retail Banking (WRB) business took effect on Friday 13 November.
Migrated customers are expected to reach their accounts, cards and digital banking through Absa channels from Monday 16 November.
The transfer covers the business’s clients, products and supporting staff, the banks said. It followed all required regulatory approvals.
Customers use Absa channels from Monday 16 November
Technical migration of client accounts and banking systems runs over the weekend of 13 to 15 November. Support teams stay available to guide customers through the move, both banks said.
The banks’ statements do not say whether account numbers or cards change. David Wandera, Managing Director of Absa Bank Uganda, said: “We recognise that changing banks is a significant transition for clients.” He said Absa aims to keep the products, pricing, relationships and support that clients value.
Standard Chartered keeps its corporate business in Uganda
Standard Chartered continues to run its Corporate and Investment Banking (CIB) business in Uganda. It links local corporates, financial institutions and cross border clients to its network across 55 markets, the banks said.
Sanjay Rughani, Chief Executive Officer and Managing Director of Standard Chartered Uganda, said, “Our priority throughout has been to protect continuity for our Wealth and Retail Banking clients and colleagues.”
Absa Bank Uganda adds the retail clients to 39 branches
Before the integration, Absa Bank Uganda operated 39 branches, 85 ATMs and 25 Cash Deposit Machines, the banks said. Absa Bank Uganda is a subsidiary of Absa Group Limited, which is listed in Johannesburg.
Absa Bank Uganda’s customer deposits rose 46.4 percent to 4.6 trillion Ugandan shillings in 2025.
The sale ends a process that began in November 2024
Khusoko reported in November 2024 that Standard Chartered planned to divest its wealth and retail banking in Botswana, Uganda and Zambia.
In October 2025 Absa Bank Uganda signed a definitive agreement to acquire the Ugandan business, with no price disclosed. Kariuki Ngari, Chief Executive Officer of Standard Chartered Kenya and Africa, then, called the sale “an important milestone.”
The Bank of Uganda approved the deal by 2 June 2026, according to a report published that day. Standard Chartered handed its Tanzanian retail and wealth business to Access Bank PLC in June 2025.
