Type Private Website Homepage Headquarters Kampala Parent organization Barclays | Industry Financial services Number of employees 850 Founded 1927 | |
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Key people Rakesh Jha
Managing Director Products Loans, checking, savings, investments, debit cards Total assets UGX:1.4 trillion (2014) Revenue 14.8 million USD (UGX:41 billion, 2014, ...) | ||
Barclays Bank of Uganda Limited, commonly known as Barclays Bank Uganda Limited, is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the central bank and national banking regulator.
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Overview
The bank is primarily involved in meeting the banking needs of individuals, small- and medium-sized businesses (SMEs), and large corporations. Before 2006, the bank focused on meeting the banking needs of only large corporations and high-net-worth individuals. That focus was loosened to include SMEs and regular customers. As of December 2014, the bank was the fifth-largest commercial bank in Uganda, with assets valued at UGX:1.4 trillion. At that time, the bank had 136,000 account holders, 42 branches, and 85 ATM outlets and employed 850 staff.
History
The bank opened in 1927, with two branches in the capital city, Kampala, and one in Jinja, the country's second-largest commercial centre. In 1971, the bank acquired the Ugandan business of the Commercial Bank of Africa.
In February 2007, the bank completed its acquisition of Nile Bank Uganda Limited, strengthening its presence in the country.
Ownership
Upon incorporation, the bank's stock was 51 percent held by Barclays and 49 percent held by the government of Uganda. By 2001, the bank had become a wholly owned subsidiary of Barclays. Since March 2016, the bank has been wholly owned by the Barclays Africa Group.
Branch network
The bank's headquarters is at 2 Hannington Road, on Nakasero Hill, in Kampala. As of July 2013, the bank maintained branches at the following locations:
Governance
The bank is governed by a board of directors. The chairman of the board is one of the non-executive directors. The managing director is Rakesh Jha. He holds an MBA in Marketing gained from IMED and a Bachelor of Arts (BA) degree gained from the University of Mumbai. Immediately prior to his appointment as managing director, Jha was managing director of Barclays Seychelles.