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Bank of Baroda Uganda Limited

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Bank of Baroda Uganda Limited
Company typePublic: USE: BOBU
IndustryBanking, capital markets, finance
Founded1953; 71 years ago (1953)
Headquarters18 Kampala Road
Kampala, Uganda
Key people
Vastina Rukimirana Nsanze
Chairperson
Shashi Dhar
CEO and Managing Director
ProductsLoans, credit cards, savings, investments
RevenueIncreaseAftertax: USh 115,966,074,000/= (US$30,875,300) (2023)[1]
Total assetsUSh 2,804,828,346,000/= (US$746,769,400) (2023)[1]
OwnerBank of Baroda (80%)
Number of employees
188 (2011)
WebsiteHomepage

The Bank of Baroda Uganda Limited (BOBU), is a commercial bank in Uganda that is majority owned by the Indian government owned banking and financial service conglomerate Bank of Baroda. BOBU is one of the commercial banks licensed by the Bank of Uganda, the central bank and national banking regulator.[2]

Overview

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BOBU is involved in all aspects of commercial banking, focusing on large corporations, small and medium enterprises, and individuals. BOBU is a subsidiary of the Bank of Baroda (BoB), an international bank with headquarters in Mumbai, India. BOBU is listed on the Uganda Securities Exchange (USE) where it trades under the symbol "BOBU". As of December 2023, the bank had total assets of USh2,804,828,346,000/= (approx. US$746,769,400), with shareholders' equity of USh708,851,014,000/= (approx. US$188,728,000).[1]

History

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BoB opened its first overseas branches in Mombasa, Kenya and Kampala, Uganda in 1953. BOBU commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BoB. On 1 November 1969, BOBU was incorporated in Uganda. In 1972, BOBU acquired the banking business of the Bank of India Uganda Limited, and the government of Uganda acquired a 49 percent shareholding in BOBU, leaving BoB with a 51 percent shareholding. In 1999, the government divested its 49 percent shareholding, returning full ownership of BOBU to BoB.[3] In November 2002, BOBU offered 20 percent of its shares to institutional and private investors on the Uganda Securities Exchange (USE) through an initial public offering.[4][5]

Subsidiaries

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BOBU owns all 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.[1]

Ownership

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The following table shows the ten largest shareholders of BBU stock, as of 31 December 2022.[6]

Bank of Baroda Uganda Stock Ownership
Rank Name of Owner Per centage Ownership
1 Bank of Baroda of India 80.00
2 Sudhir Ruparelia 2.50
3 DFCU Bank Limited 2.36
4 National Social Security Fund (Uganda) 2.10
5 King Ceasor Augustus Mulenga 1.82
6 Charles Michael Mbire 0.94
7 Jesseph Mbyambara Byamugisha 0.63
8 Andrew Muhimbise 0.56
9 Bank of Uganda Employee Benefits Scheme 0.40
10 Jobanputra Mandakini Kishor 0.40
11 Others 8.20
Total 100.0
  • Note: Totals may be slightly off due to rounding.

Branch network

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As of December 2023, BOBU had a branch network in all parts of Uganda, including:[1]

  1. Head Office - 18 Kampala Road, Kampala (Main Branch)
  2. Arua Branch - KKT Plaza, 6-22 Duka Road, Arua
  3. Railway Station Branch - Esso Corner, 6 Jinja Road, Kampala
  4. Industrial Area Branch - 37–43 Mulwana Road, Kampala[7]
  5. Kololo Branch - 31 Kira Road, Kololo, Kampala
  6. Kansanga Branch - 70/378 Kampala–Ggaba Road, Kansanga, Kampala
  7. Ovino Market Branch - 24–28 Rashid Khamis Road, Old Kampala, Kampala
  8. Kawempe Branch - Shree Hari Complex, 35/36 Kawempe-Bombo Road, Kawempe
  9. Entebbe Branch - 24 Gower's Road, Entebbe
  10. Mukono Branch - 59-67 Kampala-Jinja Road, Mukono
  11. Jinja Branch - 16 a&b Iganga Road, Jinja
  12. Lugazi Branch - SCOUL Secondary School Premises, Jinja Road, Lugazi
  13. Iganga Branch - 84A & 84B Main Street, Iganga
  14. Mbale Branch - Baroda House, 3 Pallisa Road, Mbale
  15. Mbarara Branch - 11 Masaka Road, Mbarara
  16. Kabale Branch - 94 Kabale Road, Kabale
  17. Lira Branch - 2 Aputi Road, Lira, Uganda.

See also

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References

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  1. ^ a b c d e Bank of Baroda Uganda (24 April 2024). "Bank of Baroda Uganda: Financial Statement for the Year Ending 31 December 2023". Bank of Baroda Uganda (BOBU). Kampala, Uganda. Retrieved 13 May 2024.
  2. ^ Bank of Uganda (31 March 2023). "List of Licensed Banks As At 31 March 2023". Bank of Uganda. Kampala, Uganda. Retrieved 13 May 2024.
  3. ^ Bank of Baroda Uganda (29 January 2018). "History of Bank of Baroda Uganda". Bank of Baroda Uganda. Kampala, Uganda. Archived from the original on 9 May 2017. Retrieved 29 January 2018.
  4. ^ USE (29 January 2018). "Profile of Bank of Baroda Uganda (BBU) At Uganda Securities Exchange Website". Uganda Securities Exchange (USE). Kampala, Uganda. Retrieved 29 January 2018.
  5. ^ Stephen Ilungole (2 September 2002). "Baroda Sells Shares". New Vision. Kampala, Uganda. Retrieved 13 May 2024.
  6. ^ Bank of Baroda Uganda (20 April 2023). "Bank of Baroda Annual Report for the Year Ending 31 December 2022" (PDF). Bank of Baroda Uganda. Kampala, Uganda. Retrieved 3 June 2024.
  7. ^ Sanya, Wilfred (1 November 2012). "Baroda Goes to Industrial Area". New Vision via AllAfrica.com. Archived from the original on 2 May 2014. Retrieved 1 May 2014.
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