Uganda: BOU Approves Absa Uganda Takeover of Standard Chartered Retail Business
The deal will expand Absa’s retail and wealth offerings, while Standard Chartered keeps its corporate and investment banking business unchanged.
8 Articles
8 Articles
Absa Gets BoU Nod to Take Over StanChart Uganda Retail Unit
The Bank of Uganda has given Absa Bank Uganda the regulatory green light to acquire Standard Chartered Bank Uganda's Wealth and Retail Banking business, clearing one of the final major hurdles in a deal that is set to redraw Uganda's retail banking landscape.The approval reinforces Absa's standing as a well-capitalized institution with a strong governance framework and a stated long-term commitment to the Ugandan market.David Wandera, managing d…
BoU approves Absa-StanChart retail deal
The Bank of Uganda has approved Absa Bank Uganda’s acquisition of Standard Chartered’s wealth and retail banking business, marking a major shift in the local financial sector. KAMPALA, Uganda — The Bank of Uganda has approved Absa Bank Uganda Limited’s acquisition of the wealth and retail banking business of Standard Chartered Uganda. The central bank’s approval marks a significant development for the nation’s banking sector, positioning Absa as…
The Bank of Uganda has approved the sale of the retail banking and asset management business of Standard Chartered Bank Uganda to Absa Bank Uganda. A key regulatory step in a transaction, which according to the Bank of Uganda, will re-design the retail banking landscape in the country. The transaction remains subject to the satisfaction of the Bank of Uganda.
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