Sudhir made Shs582 million from Stanbic last year

2017 was a year of recovery for many banks as they bounced back from 2016. Stanbic Bank Uganda’s net profit grew by 4.9% to Shs200.4bn.

The bank attributed its performance to the use of technology in cutting operational costs which dropped 3.2% in 2017 compared to a 17.4% rise in 2016. The bank paid out a dividend of Shs1.76 per share, 50% more than the Shs1.17 paid per share in 2016.

Sudhir Ruparelia, Uganda’s beleaguered tycoon, got upto Shs582million from his shareholding in the listed bank.

Ruparelia is the largest individual shareholder, with 0.65% shareholding in Stanbic Bank. He has not bought or sold any shares, keeping his holding constant at 330,723,247 shares for years.

The bank expected to pay upto Shs90bn in dividends to shareholders. The National Social Security Fund, the second largest shareholder in the company, received Shs2.4bn while Ibulaimu Kironde Kabanda, the only other individual in the top ten shareholders got Shs357million.

Most shareholders have between 10,000 and 100,000 shares.

The Stanbic counter is relatively active, in comparison to the other listed companies. Last year, it closed at Shs27.5 per share.

  Shareholder No. of shares Percentage shareholding Earning (in Shs)
1 Stanbic Africa 40,950,935,760 80.00 72,073,646,938
2 National Social Security Fund 1,335,166,934 2.61 2,349,893,804
3 Duet Africa Opportunities Master Fund Ic                                      508,162,923 0.99 894,366,744.5
4 Kuwait Investment Authority                                      382,814,000 0.75 673,752,640
5 Sudhir Ruparelia                                      330,723,247 0.65 582,072,914.7
6 SCB Mauritius Re Africa Opportunity Fund LP                                      246,703,581 0.48 434,198,302.6
7 Frontaura Global Frontier Fund LLC                                      232,090,821 0.45 408,479,845
8 Central Bank of Kenya Pension Fund                                      230,615,680 0.45 405,883,596.8
9 Bank of Uganda Defined Benefits Scheme _ Stanlib                                      212,746,750 0.42 374,434,280
10 Ibulaimu Kironde Kabanda                                   202,691,120.0 0.40 356,736,371.2