Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Stanbic Bank of Uganda Cuts Rates, Following the Central Bank

Stanbic Bank Uganda Ltd., the nation’s biggest lender, said it will cut its main lending rate by 1.5 percentage points this month after the central bank reduced its benchmark interest rate.

Stanbic will lower its prime lending rate to 27 percent on June 29, the Kampala-based bank said in an advertisement published today in New Vision newspaper. The central bank on June 1 cut the benchmark interest rate by a percentage point to 20 percent, the third reduction this year.

Stanbic Uganda is a unit of South Africa’s Standard Bank Group, Africa’s biggest lender.

Shop owners in Kampala closed for several days in January to protest commercial bank rates of as high as 35 percent, after the central bank had raised it key rate by 10 percentage points to 23 percent in the four months to November after introducing the rate in July.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.