Standard Chartered is selling its entire Wealth and Retail Banking (WRB) business portfolio in Uganda to Absa Bank Uganda. This strategic move, announced on October 24, 2025 in Kampala, means Standard Chartered's regular banking customers in Uganda will transition to Absa.

• Standard Chartered is "doubling down on our affluent and cross-border strategy," exiting business lines where it isn't "distinctive."
• All of Standard Chartered's Wealth and Retail Banking clients and employees in Uganda will be transferred to Absa.
• The CEO & Managing Director of Absa Bank Uganda, David Wandera, called the deal a "significant milestone" for the bank.
• The transaction is subject to regulatory approvals.