The Stanbic Bank
The Stanbic Bank News:   Massive demand for Stanbic as foreign cash flows in Stanbic Bank shares are attracting huge demand post dividend announcement, restoring the bank to its status as the most sought after company since listing. On Tuesday (16 Jul 2013), the bank traded just 132,000 shares at an average price of sh25. But there were bids for over 31 million shares, while there was demand for over 16.7 million shares. Market observers have intimated that there has been entry of foreign funds into the market even when the bank’s book closure date passed, meaning investors who had not bought Stanbic shares by the book closure date cannot benefit from the dividend offer. But this has not dissuaded interest. Read more ▪   Firm, bank join to fund construction Heavy machinery supplier Mantrac, has partnered with the Stanbic bank to fund Uganda’s construction sector. The partnership, the officials said, was an ongoing continental initiative to fill the gap of infrastructural development by speeding up financial solutions to the clients. Mr Denis Owili, the Stanbic Bank’s head of vehicle and asset finance, said the collaboration will help clients get financing for their proposed projects; under Matrac’s leasing mechanism. Read more ▪ |  |