The Bank of Baroda Uganda Limited, also known as the Bank of Baroda Uganda (BBU), is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

Uganda }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The sou ...

and a wholly owned subsidiary of Indian government owned banking and financial service company

Bank of Baroda Bank of Baroda (BOB or BoB) is an Indian public sector bank headquartered in Vadodara, Gujarat. It is the second largest public sector bank in India after State Bank of India, with 132 million customers, a total business of US$218 billion, ...

. It is one of the commercial banks licensed by the

Bank of Uganda The Bank of Uganda ( sw, Benki Kuu ya Uganda) is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department. History In 1979 and again in 1987, the Ba ...

, the national banking regulator.

Overview

BBU is involved in all aspects of commercial banking, focusing on large corporations,

small and medium enterprise Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Ba ...

s, and individuals. BBU is a subsidiary of the

(BoB), an international bank with headquarters in

Mumbai, India Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-m ...

. BBU is listed on the

Uganda Securities Exchange The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's ...

(USE) where it trades under the symbol "BOBU". As of December 2019, BBU had total assets of (US$498,172,000), with shareholders' equity of (US$104,885,000).

History

BoB opened its first overseas branches in

Mombasa, Kenya Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...

and

Kampala, Uganda Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

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. In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE through an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

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

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

Branch network

, BBU had a branch network in all parts of Uganda, including: # Head Office - 18 Kampala Road,

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

(Main Branch) # Railway Station Branch - Esso Corner, 6 Jinja Road, Kampala # Industrial Area Branch - 37–43 Mulwana Road, Kampala # Kololo Branch - 31 Kira Road,

Kololo Kololo is a hill in Kampala, the largest city and capital of Uganda. The name also applies to the upscale residential and commercial neighbourhood that sits on that hill. Location Kololo is close to the centre of Kampala, bordered by Naguru to ...

, Kampala # Kansanga Branch - 70/378

– Ggaba Road,

Kansanga Kansanga is a neighborhood in Kampala, the capital and largest city of Uganda. Location Kansanga is bordered by Kabalagala and Kisugu to the north, Muyenga to the north-east, Kiwafu to the east, Bbunga to the south-east, Konge to the south, ...

, Kampala # Ovino Market Branch - 24–28 Rashid Khamis Road,

Old Kampala Kampala Hill, commonly referred to as Old Kampala, is a hill in the centre of Kampala, Uganda's capital and largest city. Location Kampala Hill is bordered by Makerere to the north, Nakasero to the east, Mengo to the south and Namirembe to ...

, Kampala # Kawempe Branch - Shree Hari Complex, 35/36 Kawempe-Bombo Road,

Kawempe Kawempe is an area in the city of Kampala, Uganda's capital. It is also the location of the headquarters of Kawempe Division, one of the five administrative divisions of Kampala. Location Kawempe is located on the northwestern edge of Kampala. ...

# Entebbe Branch - 24 Gower's Road,

Entebbe Entebbe is a city in Central Uganda. Located on a Lake Victoria peninsula, approximately southwest of the Ugandan capital city, Kampala. Entebbe was once the seat of government for the Protectorate of Uganda prior to independence, in 1962. T ...

# Mukono Branch - 59-67 Kampala-Jinja Road,

Mukono Mukono Town is a municipality in Mukono District in the Central Region of Uganda. The town is administered by the Mukono Town Council. The district headquarters are located in this town. Location Mukono Municipality is 21 km east of ...

# Jinja Branch - 16 a&b Iganga Road, Jinja # Lugazi Branch - SCOUL Secondary School Premises, Jinja Road,

Lugazi Lugazi is a town in the Buikwe District of the Central Region of Uganda. The town is also called "Kawolo", and the two names are interchangeably used by the local inhabitants. Location The town is on the Kampala-Jinja Highway, approximately ...

# Iganga Branch - 84A & 84B Main Street,

Iganga Iganga is a town in the Eastern Region of Uganda. It is the main municipal, administrative, and commercial center of Iganga District. Location Iganga is located in Uganda's Busoga sub-region. It lies approximately , by road, northeast of the c ...

# Mbale Branch - Baroda House, 3 Pallisa Road,

Mbale Mbale is a city in the Eastern Region of Uganda. It is the main municipal, administrative, and commercial center of Mbale District and the surrounding sub-region. Location Mbale is approximately , by road, northeast of Kampala, Uganda's capita ...

# Mbarara Branch - 11 Masaka Road,

Mbarara Mbarara City is a city in the Western Region of Uganda and the second largest city in Uganda after Kampala. The city is divided into 6 boroughs of Kakoba Division, Kamukuzi Division, Nyamitanga Division, Biharwe Division, Kakiika Division, ...

# Kabale Branch - 94 Kabale Road,

Kabale Kabale is a town in the Western Region of Uganda. It is the chief town of Kabale District, and the district headquarters are located there. Sometimes nicknamed “Kastone” as in the local language Rukiga, a “kabale” is a small stone. Lo ...

# Lira Branch - 2 Aputi Road, Lira,

References

External links

Official website

Bank of Baroda India Website

Uganda Securities Exchange Website

As of 10 April 2020. {{DEFAULTSORT:Bank Of Baroda (Uganda) Banks of Uganda Bank of Baroda Companies listed on the Uganda Securities Exchange Banks established in 1953 1953 establishments in Uganda Companies based in Kampala