IT CAN BE: Stanbic’s role in supporting businesses during COVID-19 Stanbic Bank, recently cut its prime lending rate to 16.0%- a decent 2.84 percentage points below the industry 18.84 percent industry average. This is probably the lowest in the banking industry to date. This is the second time that Uganda’s largest lender is cutting its base lending rate that opened the year at 17.5 percent. CEO East Africa Magazine, had a quick catch-up with Anne Juuko, the Stanbic Chief Executive on the insights behind the cuts and how the bank is propping up the vulnerable SME sector during these harsh Covid-19 times.