Headquarters Kampala, Uganda Founded 1953 Parent organization Bank of Baroda | Motto Banking with Passion Number of employees 188 (2011) | |
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Type Public:Uganda Securities Exchange: BOBU Industry Banking, capital markets, finance Key people Rama Makuza,
chairman
B. S. Dhaka,
managing director Products Loans, credit cards, savings, investments Revenue Aftertax:UGX:36.9 billion (2014) Total assets UGX:1.136 trillion (2014) | ||
The Bank of Baroda Uganda Limited, also known as the 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.
Contents
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 UGX:1.136 trillion and shareholders' equity of UGX:194.1 billion.
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. In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE through an initial public offering.
Subsidiaries
BBU 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.
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.
Branch network
As of November 2012, BBU had a branch network in all parts of Uganda, including:
- Head Office - 18 Kampala Road, Kampala
- Jinja Road Branch - 2 Jinja Road, Kampala
- Kansanga Branch - 70-378 Ggaba Road, Kansanga, Kampala
- Ovino Market Branch - Tirupati Ovino Market, 22 Block 12 Kisenyi, Kampala
- Kawempe Branch - 35-36 Bombo Road, Kawempe
- Entebbe Branch - Victoria Medical Services Building, 24 Gowers Road, Entebbe
- Mukono Branch - 59-67 Jinja Road, Jinja Road, Mukono
- Jinja Branch - 16 Iganga Road, Jinja
- Iganga Branch - 84 Main Street, Iganga
- Mbale Branch - Baroda House, 3 Pallisa Road, Mbale
- Mbarara Branch - 11 Masaka Road Mbarara
- Kabale Branch - 94 Kabale Road, Kabale
- Lira Branch - 2 Aputi Road, Lira
- Industrial Area Branch - Mulwana Road, Industrial Area, Kampala
- Kololo Branch - 31 Kira Road, Kololo, Kampala