Industry Financial Services Founded 2012 Type of business Private | Headquarters Kampala Number of employees 28 | |
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Key people Melwyn O Rego
Group CEO
Peter Kabatsi
Chairman
Ajay Panth
Managing Director and CEO Products Retail Banking, Corporate Banking, Investments, Remittances, Loans Revenue Aftertax:US$ 380,000+ (UGX 1274 million) (2015) Total assets (UGX 136 billion) (US$ 40.60 million) (2015) | ||
Bank of India (Uganda) Limited (BOIUL), commonly referred to as Bank of India (Uganda), is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the national banking regulator.
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Overview
As of June 2012, BOIU was a small, but growing, financial services provider in Uganda. The valuation of its total assets and shareholders' equity are not publicly known.
History
Bank of India began its international expansion in 1946 by opening its first branch in London and the first Indian Bank to do so. It opened branches in Tokyo (1950), Singapore (1951), Kenya and Uganda (1953), Hong Kong (1960) and so on. Following the expulsion of Asians from the country by Idi Amin in 1972, BOIU sold its assets to Bank of Baroda and exited the country. In 2012, the BOIUL returned as it was issued a commercial banking license by the Bank of Uganda in March 2012. BOIUL commenced business operations on 10 June 2012. The Bank has been making profits from the first year of its operations.
Bank of India Group
BOIUL is a member of the Bank of India Group, a financial services conglomerate whose shares are listed on the Bombay Stock Exchange. The stock of the group is 65.9 percent owned by the Government of India. The group is one of the five largest banks in India, with over 5,000 branches, spread over 23 countries (60 offices) and over 8,000 ATMs. The member companies of Bank of India Group include but are not limited to the following:
Location
BOIUL has two branches located at 37 Jinja Road, Kampala-Jinja Highway, Kampala and at Equotorial Mall, Bombo Road, kampala.