For the sixth consecutive year Stanbic Bank Uganda has won the best ‘Primary Dealer Award‘ beating off stiff competition from six other commercial banks.
The accolade is given on an annual basis to the financial institution that has excelled in executing its primary dealer mandate and is the culmination of a very rigorous annual appraisal process by Bank of Uganda.
Presenting the award at a ceremony held at the Central Bank of Uganda, Governor Prof. Emmanuel Mutebile acknowledged the key role Stanbic had played in the market especially for its participation in the primary auctions, market making capabilities, consistent pricing as well as timely market intelligence.
He also recognized the role played by all the other banks who are part of the primary dealer system. “I applaud the contribution of all the primary dealer banks towards the development of the government securities market and by extension the financial markets in Uganda.” Mutebile said in a press statement.
Accepting the award on behalf of Stanbic Bank, the Board Chairman Mr. Japheth Katto thanked the entire bank and in particular the global markets team for their sacrifice and dedication.
“This is an incredible achievement which is worthy of the highest recognition, it demonstrates the consistency of service delivery within the bank which is key to providing a quality consumer experience,” he said.
Mr. Katto during the award ceremony promised to work with Central Bank of Uganda and other interbank counter parties to create robust and functional Primary Dealer system; which aims at promoting participation in government securities markets, foster the development of financial markets, improve the secondary market trading system as well as to ensure efficiency in the operations related to the Government securities market at the central bank.