Electronic banking has transformed the delivery architecture of commercial banking in Uganda over the past decade, yet the question of whether substantial investment in digital channels has yielded commensurate financial returns remains contested. This study assessed the effects of electronic banking on the financial performance of commercial banks in Uganda, using Stanbic Bank as the case. Adopting a positivist philosophy and a cross-sectional survey design, data were collected from 152 respondents drawn through stratified random sampling from a target population of 245 comprising branch management, operations and customer service staff, digital channels and IT personnel, finance and treasury officers, and agency banking supervisors. A structured questionnaire measured four electronic banking dimensions, namely mobile banking, internet banking, automated teller machine and card services, and agency banking, against financial performance assessed through profitability, cost efficiency, transaction volume growth, and customer base expansion. Data were analysed using descriptive statistics, Pearson correlation, and multiple regression in SPSS version 26. Findings revealed that mobile banking recorded the highest mean while internet banking recorded the lowest. All four dimensions correlated significantly and positively with financial performance, with mobile banking strongest (r = 0.694, p < 0.01), followed by agency banking (r = 0.641, p < 0.01), ATM and card services (r = 0.563, p < 0.01), and internet banking (r = 0.498, p < 0.01). The regression model was significant, F(4, 141) = 52.83, p < 0.001, explaining 60.0 per cent of variance in financial performance, with mobile banking (β = 0.342) and agency banking (β = 0.279) the dominant predictors. The findings corroborate Wandera and Kumar (2024), who found mobile banking contributed 30.2 per cent and internet banking 33.2 per cent to financial performance at Centenary Bank, Kumi branch, and address the concern raised by Lydia et al. (2023) that it remains unknown whether large e-banking infrastructure investments have yielded better financial returns. The study concludes that channel effects are heterogeneous rather than uniform and recommends prioritising mobile and agency channels, rationalising branchlinked infrastructure, and strengthening digital fraud controls.