Stanbic Bank Uganda has intensified crackdown against unethical staff.

And as we report this, over 100 staff are under investigation for alleged mismanagement of Credit Reference Bureau (CRB) fees.

These include business bankers, personal bankers, affluent bankers, affluent managers and direct sales agents (DSA’s)

Credit Reference Bureau fee is money paid by loan applicants in order for the bank to generate a report used to evaluate borrowing history and record of a client.

When a client applies for a loan, it’s a requirement to perform credit checks from the bank’s third party service providers Compuscan CRB or Metropol CRB for a certain fee, reveals a source.

The fee is then reportedly deposited to a suspense account.

But most personal bankers have been in the habit of picking the money from clients with a filled bank deposit slip with the aim of depositing it later to the suspense account.

And that’s the end. The money in real sense is never deposited.

But they then send a loan application to the loan center with a copy of deposit of those fees but after the loan is processed.

“They eat the money but the credit department remains with a copy of proof sent from the branch,” a source in the bank revealed.

The staff involved have been reportedly taking advantage of the fact that the bank takes time to check out for such anomalies.

However, a recent audit report revealed that whereas a lot of reports are printed and proof of payment attached for each loan, the same monies were not reflecting on the suspense account; there was less.

Investigations discovered that some staff don’t deposit the loan application fees on the suspense account hence plunging the bank into losses in compensating their third party CRB service providers—Compuscan CRB and Metropol CRB.

“It’s mainly service providers Compuscan CRB and Metropol CRB who query because there is an audit trail in the system that shows reports printed by individual users, branch level, regional and country wide. Daily, weekly, monthly and annually that users can’t delete or modify,” a source revealed.


Stanbic bank has reportedly already fired three staff members from the eastern region.

They include Peter Ochole – personal banker, Soroti branch; Alex Olengo -Soroti branch and Arthur Wepukhulu – executive banker- Mbale branch.

There is a similar case in the Iganga branch, one Namwanje Irene, the oldest personal banker in the region having joined the bank in 2007 and promoted to a personal banker in 2012.

However, management has decided she is given time to refund the money and will not appear for the disciplinary process like many of her colleagues because of her good relationship with the current Regional manager.

There is also Otim Jorem, a business banker who has decided to voluntarily resign.

Wepukhulu joined the bank in 2021. He started as direct sales agents (DSA) in Kampala but due to his close relationship with the Regional manager Eastern, he was reportedly elevated to a personal banker Kotido branch.

A year later, he was elevated to Execute banker and transferred to Mbale branch.

For Olengo, sources say this could have been a trap by some envious bosses to deprive him of bonus payments that are associated with excellent performance.

Some personal bankers can reportedly get between shs2m-15m monthly in bonuses exclusive of salary.

“The salary increase is based on the performance appraisal results rated (1) over 100% target achievement (rating Exceeded Expectations) 2 . Over 90% to 100% rating (met expectations) others below that are rated Time to step up.

“But the system is defiled by managers that your final performance appraisal is determined by the personal relationship with the line manager.

“The highest salary increase is 10% and others 1%or 2% . But the bonus is also allocated according to the rating that a personal banker rated highly can get 15 million and others 2 million bonus.

“And if you don’t give a kickback to the line manager, even if you perform highly, they will downgrade the rating. It’s just about sharing with managers but the system is a failure

“The system creates a big salary gap for staff in the same position between those who are favoured with the poorest performance that can be seen with naked eyes and those out of favor with best performance.

“The system works well to enable managers to take revenge against staff they don’t like given the regional and branch HR managers don’t have powers as mostly are ceremonial and just for formality,” explained an insider.

We have further learnt that the suspended staff have since appealed.

We are told there is precedence in 2020 when staff that had been terminated over fraud cases appealed and succeeded.

Outgoing CEO, Anne Juuko has been hailed for taking a tougher stance against fraud at the bank both internally and externally.





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