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.[2]
| Company type | Public: USE: BOBU |
|---|---|
| Industry | Banking, capital markets, finance |
| Founded | 1953 |
| Headquarters | 18 Kampala Road Kampala, Uganda |
Key people | Vastina Rukimirana Nsanze Chairperson Shashi Dhar CEO and Managing Director |
| Products | Loans, credit cards, savings, investments |
| Revenue |  Aftertax: USh 115,966,074,000/= (US$30,875,300) (2023)[1] |
| Total assets | USh 2,804,828,346,000/= (US$746,769,400) (2023)[1] |
| Owner | Bank of Baroda (80%) |
Number of employees | 188 (2011) |
| Website | Homepage |
Overview
editBOBU 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 USh2,804,828,346,000/= (approx. US$746,769,400), with shareholders' equity of USh708,851,014,000/= (approx. US$188,728,000).[1]
History
editBoB 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
editBOBU 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
editThe following table shows the ten largest shareholders of BBU stock, as of 31 December 2022.[6]
| Rank | Name of Owner | Per centage Ownership |
|---|---|---|
| 1 | Bank of Baroda of India | 80.00 |
| 2 | Sudhir Ruparelia | 2.50 |
| 3 | DFCU Bank Limited | 2.36 |
| 4 | National Social Security Fund (Uganda) | 2.10 |
| 5 | King Ceasor Augustus Mulenga | 1.82 |
| 6 | Charles Michael Mbire | 0.94 |
| 7 | Jesseph Mbyambara Byamugisha | 0.63 |
| 8 | Andrew Muhimbise | 0.56 |
| 9 | Bank of Uganda Employee Benefits Scheme | 0.40 |
| 10 | Jobanputra Mandakini Kishor | 0.40 |
| 11 | Others | 8.20 |
| Total | 100.0 |
- Note: Totals may be slightly off due to rounding.
Branch network
editAs of December 2023[update], BOBU had a branch network in all parts of Uganda, including:[1]
- Head Office - 18 Kampala Road, Kampala (Main Branch)
- Arua Branch - KKT Plaza, 6-22 Duka Road, Arua
- Railway Station Branch - Esso Corner, 6 Jinja Road, Kampala
- Industrial Area Branch - 37–43 Mulwana Road, Kampala[7]
- Kololo Branch - 31 Kira Road, Kololo, Kampala
- Kansanga Branch - 70/378 Kampala–Ggaba Road, Kansanga, Kampala
- Ovino Market Branch - 24–28 Rashid Khamis Road, Old Kampala, Kampala
- Kawempe Branch - Shree Hari Complex, 35/36 Kawempe-Bombo Road, Kawempe
- Entebbe Branch - 24 Gower's Road, Entebbe
- Mukono Branch - 59-67 Kampala-Jinja Road, Mukono
- Jinja Branch - 16 a&b Iganga Road, Jinja
- Lugazi Branch - SCOUL Secondary School Premises, Jinja Road, Lugazi
- Iganga Branch - 84A & 84B 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, Uganda.
See also
edit
References
edit- ^ a b c d e Bank of Baroda Uganda (24 April 2024). "Bank of Baroda Uganda: Financial Statement for the Year Ending 31 December 2023". Bank of Baroda Uganda (BOBU). Kampala, Uganda. Retrieved 13 May 2024.
- ^ Bank of Uganda (31 March 2023). "List of Licensed Banks As At 31 March 2023". Bank of Uganda. Kampala, Uganda. Retrieved 13 May 2024.
- ^ Bank of Baroda Uganda (29 January 2018). "History of Bank of Baroda Uganda". Bank of Baroda Uganda. Kampala, Uganda. Archived from the original on 9 May 2017. Retrieved 29 January 2018.
- ^ USE (29 January 2018). "Profile of Bank of Baroda Uganda (BBU) At Uganda Securities Exchange Website". Uganda Securities Exchange (USE). Kampala, Uganda. Retrieved 29 January 2018.
- ^ Stephen Ilungole (2 September 2002). "Baroda Sells Shares". New Vision. Kampala, Uganda. Retrieved 13 May 2024.
- ^ Bank of Baroda Uganda (20 April 2023). "Bank of Baroda Annual Report for the Year Ending 31 December 2022" (PDF). Bank of Baroda Uganda. Kampala, Uganda. Retrieved 3 June 2024.
- ^ 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.