Bank of Baroda (Uganda)

Bank of Baroda
Public:Uganda Securities Exchange: BOBU
Industry Banking, capital markets, finance
Founded 1953
Headquarters 18 Kampala Road
Kampala, Uganda
Key people
 Rama Makuza,
chairman
B. S. Dhaka,
managing director
Products Loans, credit cards, savings, investments
Revenue IncreaseAftertax:US$13.23 million (UGX:36.9 billion) (2014)
Total assets US$409.02 million (UGX:1.136 trillion) (2014)
Number of employees
 188 (2011)
Slogan Banking with Passion
Website Homepage

Bank of Baroda (Uganda) (BBU) is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.[1]

Overview

BBU is involved in all aspects of commercial banking, focusing on large corporations, small and medium enterprises, and individuals. BBU is a subsidiary of the Bank of Baroda (BBI), an international bank with headquarters in Mumbai, India. BBU is listed on the Uganda Securities Exchange (USE), where it trades under the symbol "BOBU". In December 2014, BBU was the seventh largest commercial bank in Uganda, with estimated assets of US$409.02 million (UGX:1.136 trillion) and shareholders' equity of US$69.87 million (UGX:194.1 billion).[2]

History

BBI opened its first overseas branches in Mombasa, Kenya and Kampala, Uganda in 1953. BBI commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BBI. On 1 November 1969, BBU was incorporated in Uganda. In 1972, BBU acquired the banking business of the Bank of India Uganda Limited, and the government of Uganda acquired a 49 percent shareholding in BBU, leaving BBI with a 51 percent shareholding. In 1999, the government divested its 49 percent shareholding, returning full ownership of BBU to BBI.[3] In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE, through an initial public offering.[4]

Subsidiaries

The bank owns 100% of Baroda Capital Markets (Uganda) Limited, which was established in 1993. The subsidiary is a broker/dealer in capital markets and is licensed by Uganda's Capital Markets Authority (CMA). The Baroda brokerage is a member of the CMA Governing Council.

Ownership

BBI owns 80 percent of BBU, with the remaining 20 percent owned by institutional and private investors in Uganda. The following table shows the five largest shareholders of BBU

Bank of Baroda (Uganda) Stock Ownership
Rank Name of OwnerPercentage Ownership
1 Bank of Baroda 80.00
2 National Social Security Fund (Uganda) 6.69
3 UCEC Pension Scheme 1.25
4 Byamugisha Joseph 0.63
5 Shri Sthanakvasi Jain Sangh 0.50
6 Others 11.94
Total100.0

Branch network

As of November 2012, BBU had a network of branches in all parts of Uganda, including the following:[5]

  1. Head Office - 18 Kampala Road, Kampala
  2. Jinja Road Branch - 2 Jinja Road, Kampala
  3. Kansanga Branch - 70-378 Ggaba Road, Kansanga, Kampala
  4. Ovino Market Branch - Tirupati Ovino Market, 22 Block 12 Kisenyi, Kampala
  5. Kawempe Branch - 35-36 Bombo Road, Kawempe
  6. Entebbe Branch - Victoria Medical Services Building, 24 Gowers Road, Entebbe
  7. Mukono Branch - 59-67 Jinja Road, Jinja Road, Mukono
  8. Jinja Branch - 16 Iganga Road, Jinja
  9. Iganga Branch - 84 Main Street, Iganga
  10. Mbale Branch - Baroda House, 3 Pallisa Road, Mbale
  11. Mbarara Branch - 11 Masaka Road Mbarara
  12. Kabale Branch - 94 Kabale Road, Kabale
  13. Lira Branch - 2 Aputi Road, Lira
  14. Industrial Area Branch - Mulwana Road, Industrial Area, Kampala[6]
  15. Kololo Branch - 31 Kira Road, Kololo, Kampala

See also

References

  1. ↑ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015.
  2. ↑ BOBU (30 March 2015). "Audited 31 December 2014 Annual Report & Financial Statement" (PDF). Bank of Baroda Uganda (BOBU). Retrieved 24 April 2015.
  3. ↑ "History of Bank of Baroda Uganda". Retrieved 1 May 2014.
  4. ↑ "Profile of Bank of Baroda Uganda (BBU) At Uganda Securities Exchange Website". Uganda Securities Exchange. Retrieved 1 May 2014.
  5. ↑ "Branches of Bank of Baroda In Uganda". Bank of Baroda Uganda. Retrieved 1 May 2014.
  6. ↑ Sanya, Wilfred (1 November 2012). "Baroda Goes to Industrial Area". New Vision via AllAfrica.com. Retrieved 1 May 2014.

External links

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