A unit of South Africa's Standard Bank Group, the bank said it had earned 263.4 billion shillings ($70.62 million) in profit before tax.

Stanbic's net interest income was up 34.3% in the first half of the year.

Stanbic chiefly competes with locally-owned Centenary Bank and a unit of Standard Chartered in the East African country.

($1 = 3,730.0000 Ugandan shillings)

(Reporting by Elias Biryabarema; Editing by Hereward Holland and Alexander Winning)