StanChart records 27% growth in customer deposits in 2020
May 16, 2021 Standard Chartered Speke road branch
Standard Chartered bank has announced a 21.5 per cent growth in total assets to Shs 3.83 trillion and customer deposits growth by 27.1% to Shs 2.7 trillion in 2020 amidst the coronavirus pandemic.
However, total incomes decreased by 6.8 per cent to Shs 429.9bn, and net profits before tax also decreased by 41.6 per cent to Shs 72.8 billion.
Last year, the bank also won several global and local awards which include the Digital Bank Excellence award and the Best Digital Brand award at the Digital Impact Awards Africa. It also won the Best Bank of the Year 2020 award from The Banker, Best Consumer Digital Bank award by the Global Finance Magazine, and Humantarian award from the Uganda Red Cross Society (URCS).