Kenya: Absa Bank Uganda Buys Retail, Wealth Business From Rival

Nairobi — Absa Bank Uganda has signed an agreement to acquire Standard Chartered Bank Uganda’s Wealth and Retail Banking (WRB) business portfolio, expanding its footprint in the country’s financial sector.

The deal will see all Standard Chartered WRB clients and staff move to Absa, with both banks working together to ensure a smooth transition once regulatory approvals are granted.

Absa Group Executive for Africa Regions Charles Russon said the acquisition strengthens Absa’s position in Uganda…