Standard Chartered Uganda Limited has officially completed the sale of its Wealth and Retail Banking (WRB) division to Absa Bank Uganda Limited, concluding a multi‑year restructuring of its East African operations.

The handover became effective on 13 November 2026 after all required regulatory approvals were secured, transferring the portfolio of clients, products and supporting staff to Absa.

Technical migration of client accounts and banking systems is scheduled for the weekend of 13–15 November 2026, with customers expected to access their accounts, cards and digital channels through Absa from Monday, 16 November 2026.

Standard Chartered’s employees who supported the WRB division have also moved to Absa, and both banks say dedicated support teams will remain available to guide customers through the change.

Sanjay Rughani, CEO and Managing Director of Standard Chartered Uganda, described the completion as a milestone and emphasized that protecting continuity for clients and staff was the priority throughout the transition.

The sale follows a process that began in November 2024 when Standard Chartered announced plans to explore divesting its Ugandan retail operations, culminating in a formal agreement signed in October 2025.

Standard Chartered will retain its Corporate and Investment Banking franchise in Uganda, continuing to serve local corporates, financial institutions and cross‑border clients across its global network.

For Absa Bank Uganda, the acquisition expands its retail footprint, wealth‑management capabilities and market share, adding to its existing network of 39 branches, 85 ATMs and 25 cash‑deposit machines.

David Wandera, Managing Director of Absa Bank Uganda, welcomed Standard Chartered’s clients and staff, noting that the banks have worked closely to preserve existing products, pricing and support arrangements during the transition.