Stanbic Bank dominates financial reporting awards

November 13, 2017 in Business, Companies, Finance by Editor

Mwogeza (second left) shares the celebration with the SBU team, including Japheth Katto (fourth left), the bank Board Chairman.

November 13—Stanbic Bank Uganda (SBU), the country’s largest, won an unprecedented five accolades including the overall Gold award at the recent 2017 Financial Reporting (FiRe) awards held in Kampala.

There were awards in 13 categories, with SBU winning the Annual Report of the Year for a record fourth time. “Special thanks and recognition go to the Stanbic finance and the broader bank team for another excellent job well done. This truly is an award winning team in every sense and speaks to the spirit of team work and excellence with which we are committed to serving our clients, shareholders, regulators and other partners for growth,” Sam Mwogeza, the Chief Financial Officer of Stanbic Bank said when receiving the Gold Award.

Stanbic also won the Best Banking Services category, Best Listed Entity Award and Sustainability Reporting of the Year Award in addition to being recognized for excellence in Corporate Governance Reporting.

The FiRe awards are organised by the Institute of Certified Public Accountants of Uganda (ICPAU) in collaboration with the Capital Markets Authority (CMA) and Uganda Securities Exchange (USE). They seek to enhance the quality of financial and business reporting in Uganda by encouraging the implementation of financial reporting standards as well as best practice. Over 70 companies submitted their 2017 annual reports for review.

Mwogeza said, “We will continue to strive for excellence in our reporting as in all other areas as a fully integrated partner for growth. We commend the sponsors of this initiative; CMA, USE, ICPAU and the New Vision for playing a leading support role in the improvement of financial reporting and will continually to look to enhance the quality and depth of reporting to all our stakeholders.”

Stanbic Bank Uganda is a member of the Standard Bank Group, Africa’s largest bank by assets. The Group has direct, on-the-ground representation in 20 African countries. Standard Bank Group has 1221 branches and 8 815 ATMs in Africa, making it one of the largest banking networks on the continent. It provides global connections backed by deep insights into the countries where it operates.