Bank of Baroda Uganda Limited explained

Bank of Baroda Uganda Limited
Type:Public

USE: BOBU

Location:18 Kampala Road
Kampala, Uganda
Key People:Vastina Rukimirana Nsanze
Chairperson
Shashi Dhar
CEO and Managing Director
Industry:Banking, capital markets, finance
Owner:Bank of Baroda (80%)
Products:Loans, credit cards, savings, investments
Revenue:Aftertax: USh  (US$30,875,300) (2023)
Assets:USh  (US$746,769,400) (2023)
Num Employees:188 (2011)
Homepage:Homepage

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.[1]

Overview

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 USh (approx. US$746,769,400), with shareholders' equity of USh (approx. US$188,728,000).[2]

History

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

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.[2]

Ownership

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

Rank !!Name of Owner!!Per centage Ownership
1 80.00
2 2.50
3 DFCU Bank Limited2.36
4 2.10
5 King Ceasor Augustus Mulenga 1.82
6 0.94
7 Jesseph Mbyambara Byamugisha 0.63
8 Andrew Muhimbise 0.56
9 0.40
10 Jobanputra Mandakini Kishor 0.40
11 Others 8.20
Total100.0

Branch network

, BOBU had a branch network in all parts of Uganda, including:[2]

  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 KampalaGgaba 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
    1. Mbarara Branch - 11 Masaka Road, Mbarara Kabale Branch - 94 Kabale Road, Kabale
  15. Lira Branch - 2 Aputi Road, Lira, Uganda.

See also

External links

Notes and References

  1. Web site: List of Licensed Banks As At 31 March 2023 . . 31 March 2023 . Bank of Uganda . 13 May 2024 . Kampala, Uganda.
  2. Web site: Bank of Baroda Uganda (BOBU) . Bank of Baroda Uganda: Financial Statement for the Year Ending 31 December 2023 . 24 April 2024 . Bank of Baroda Uganda . 13 May 2024 . Kampala, Uganda.
  3. Web site: 29 January 2018 . History of Bank of Baroda Uganda . Bank of Baroda Uganda . Bank of Baroda Uganda . 29 January 2018 . Kampala, Uganda . 9 May 2017 . https://web.archive.org/web/20170509235111/http://www.bankofbaroda.ug/Profile.php . dead .
  4. Web site: 29 January 2018 . 29 January 2018 . Profile of Bank of Baroda Uganda (BBU) At Uganda Securities Exchange Website . Uganda Securities Exchange (USE) . USE . Kampala, Uganda.
  5. Web site: 2 September 2002 . Baroda Sells Shares . . Stephen Ilungole . 13 May 2024 . Kampala, Uganda.
  6. Web site: Bank of Baroda Annual Report for the Year Ending 31 December 2022 . Bank of Baroda Uganda . 20 April 2023 . Bank of Baroda Uganda . 3 June 2024 . Kampala, Uganda.
  7. Web site: Baroda Goes to Industrial Area . Wilfred . Sanya . 1 November 2012 . 1 May 2014 . . https://web.archive.org/web/20140502002045/http://allafrica.com/stories/201211010922.html . 2 May 2014 . dead .