01 June, 2026 – The Bank of Uganda has approved the sale of Standard Chartered Uganda’s Wealth and Retail Banking (WRB) business to Absa Bank Uganda, clearing a key regulatory hurdle in a transaction first announced in October 2025.

In a communication to customers, Standard Chartered Uganda confirmed that the agreement with Absa Bank Uganda has now received the necessary approval from the central bank.

The bank said the transaction will now move to the next phase, with both institutions working together to complete the integration process and operational alignment over the coming months.

Standard Chartered Uganda also reassured customers that there will be no immediate changes to day-to-day banking operations, customer services, or banking systems at this stage.

“Our teams will continue working closely with Absa Bank Uganda to finalise the integration process and operational alignment, ensuring a smooth, well-governed, and orderly transition,” Standard Chartered Uganda announced.

Further updates are expected as the transition process progresses.