Kampala: Standard Chartered Uganda Limited has announced the completion of the sale and transfer of its Wealth and Retail Banking (WRB) business to Absa Bank Uganda Limited, following receipt of the necessary regulatory approvals and the successful completion of the agreed transition process.
This milestone concludes the transaction announced in November 2024 and reflects the careful execution of the transition. Effective 13 November 2026, Standard Chartered Uganda’s Wealth and Retail Banking business, including its clients and products, transferred to Absa Bank Uganda.
While the business has formally transferred to Absa, the final migration and integration of client accounts and banking services will take place over the weekend of 13 – 15 November 2026. Clients are expected to begin accessing their Absa Bank Uganda accounts, services and banking channels from 16 November 2026.
Standard Chartered Uganda colleagues supporting the Wealth and Retail Banking business have also joined Absa Bank Uganda, helping to preserve continuity of expertise, client relationships and service. ‘Our priority throughout has been to deliver an orderly and seamless transition for clients. Standard Chartered and Absa will continue to provide direct support, including guidance on accessing accounts, cards, digital banking platforms and other services”.
Sanjay Rughani, Chief Executive Officer and Managing Director, Standard Chartered Uganda, said, “The completion of this transaction is an important milestone for Standard Chartered in Uganda and the culmination of a carefully managed transition over the past several months. Our priority throughout has been to protect continuity for our Wealth and Retail Banking clients and colleagues and to support their move to an institution positioned to serve their future needs and ambitions.”
“We are grateful to our clients for the trust they have placed in Standard Chartered over the years, and to our colleagues for the dedication with which they have built and served this business. As we begin this next chapter, Standard Chartered remains committed to Uganda through our Corporate & Investment Banking franchise, connecting Ugandan businesses and institutions to our global network, expertise and financing capabilities.”
The completion supports Standard Chartered Group’s global strategy to concentrate resources in areas where it has the most distinctive client proposition. In Uganda, the Bank will continue to build on its longstanding presence through its Corporate & Investment Banking franchise, serving corporate, financial institution and cross-border clients and connecting them to opportunities across its international network.
David Wandera, Managing Director, Absa Bank Uganda, said, “We are pleased to officially welcome Standard Chartered’s Wealth and Retail Banking clients and colleagues to Absa. We recognise that changing banks is a significant transition for clients, which is why we have worked closely with Standard Chartered to make this transition as smooth as possible while preserving the products, pricing, relationships and support that clients value. As we complete the final migration activities over the coming days, our priority remains ensuring clients have the information, guidance and support they need to continue banking with confidence.”
This acquisition builds on Absa’s established wealth and wealth banking capabilities, extensive banking infrastructure and experienced teams. The expertise and longstanding client relationships of the colleagues joining us will further strengthen our ability to serve clients and provide financial solutions that support their evolving needs and ambitions.”
The transaction was completed through a structured transition process led by both banks to prepare clients, colleagues and operations for the transfer. Standard Chartered worked closely with Absa, the relevant regulators and other stakeholders to maintain service continuity, provide clear communication and support clients throughout the transition.
