Bank of Baroda Uganda Limited

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.[2]

Bank of Baroda Uganda Limited
TypePublic:Uganda Securities Exchange: BOBU
IndustryBanking, capital markets, finance
Founded1953
Headquarters18 Kampala Road
Kampala, Uganda
Key people
Vastina Rukimirana Nsanze
Chairperson
Raj Kumar Meena
CEO and Managing Director
ProductsLoans, credit cards, savings, investments
RevenueAftertax:UGX:45,361,839,000 ($12,048,200) (2019)[1]
Total assetsUGX:1,875,630,000,000 ($498,172,000) (2019)[1]
Number of employees
188 (2011)
WebsiteHomepage

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 (BoB), an international bank with headquarters in Mumbai, India. BBU is listed on the Uganda Securities Exchange (USE) where it trades under the symbol "BOBU". As of December 2019, BBU had total assets of USh:1,875,630,000,000 ($498,172,000), with shareholders' equity of USh:394,895,000,000 (US$104,885,000).[1]

History

BoB opened its first overseas branches in Mombasa, Kenya and Kampala, Uganda in 1953. BBU commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BoB. 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 BoB with a 51 percent shareholding. In 1999, the government divested its 49 percent shareholding, returning full ownership of BBU to BoB.[3] In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE through an initial public offering.[4]

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.[1]

Ownership

The following table shows the ten largest shareholders of BBU stock, as of 31 December 2018.[1]

Bank of Baroda Uganda Stock Ownership
RankName of OwnerPercentage Ownership
1Bank of Baroda of India80.00
2Sudhir Ruparelia2.50
3DFCU Bank Limited2.50
4National Social Security Fund (Uganda)2.00
5Maheshwary Puroshottam1.00
6King Ceasor Augustus Mulenga0.80
7Bank of Uganda Employee Benefits Scheme0.64
8Dr. Joseph Byambara Byamugisha0.63
9Uganda Parliamentary Pension Scheme0.56
10National Social Security Fund - Pinebridge0.40
11Others8.97
Total100.0

Branch network

As of January 2018, BBU had a branch network in all parts of Uganda, including:[5]

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

See also

References
  1. Bank of Baroda Uganda (27 March 2020). "Bank of Baroda Uganda: Financial Statement for the Year Ending 31 December 2019" (PDF). Kampala: Bank of Baroda Uganda Limited. Retrieved 10 April 2020.
  2. BOU (31 March 2017). "List of Licensed Commercial Banks As At March 2017" (PDF). Kampala: Bank of Uganda (BOU). Archived from the original (PDF) on 30 July 2017. Retrieved 29 January 2018.
  3. BBU (29 January 2018). "History of Bank of Baroda Uganda". Kampala: Bank of Baroda Uganda Limited (BBU). 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). Retrieved 29 January 2018.
  5. BBU (29 January 2018). "Branches of Bank of Baroda In Uganda". Bank of Baroda Uganda (BBU). Retrieved 29 January 2018.
  6. 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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