Bank of Baroda (Uganda)
Encyclopedia
Bank of Baroda (BOBU) is a commercial bank
in Uganda
. The bank is involved in all aspects of commercial banking, focusing on servicing large, medium and small business enterprises as well as individuals. Bank of Baroda (Uganda) is a subsidiary of Bank of Baroda
(BBI), an International bank with headquarters in Mumbai
, India
with over 2,750 branches in 17 countries and a balance sheet of approx. US$ 14 billion as of March 2002. Bank of Baroda (Uganda) is listed on the Uganda Securities Exchange
, (USE), effective November 14, 2002, where it trades under the symbol BOBU. It is the 8th largest bank in Uganda, with an estimated asset valuation of $193.1 million as of December 2009.
and 49 years in East Africa
where BBI opened its first overseas branches in Mombasa
, Kenya
and Kampala
, Uganda
in 1953. The Group commenced operations in Uganda
on 18 December 1953, initially as an overseas branch of BBI. On 1 Nov 1969, BOBU was duly incorporated in Uganda
. In 1972, BOBU acquired the banking business of Bank of India Uganda Limited and the Government of Uganda acquired a 49% shareholding in BOBU, leaving BBI with a 51% shareholding. In 1999, the Government of Uganda divested its 49% shareholding, reverting the entire BOBU to BBI. In November 2002, 20% of the shareholding of BOBU was offered to institutional and private investors on the Uganda Securities Exchange
(USE).
. The following table shows the five (5) largest shareholders of Bank of Baroda (Uganda).
{| style="font-size:95%;"
|-
| width="80%" align="center" | Bank of Baroda (Uganda) Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank of Baroda
||79.99
|-
|2||National Social Security Fund (Uganda)
||6.69
|-
|3||UCEC Pension Scheme||1.25
|-
|4||Byamugisha Joseph||0.63
|-
|5||Shri Sthanakvasi Jain Sangh||0.50
|-
|6||Others||11.94
|-
| ||Total||100.0
|-
|}
and V. M. Gupta is the Managing Director.
. The bank employs 160 people of whom about 20 are seconded to the bank from Bank of Baroda (India). The current branch network includes the following locations:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank is involved in all aspects of commercial banking, focusing on servicing large, medium and small business enterprises as well as individuals. Bank of Baroda (Uganda) is a subsidiary of Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
(BBI), an International bank with headquarters in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
with over 2,750 branches in 17 countries and a balance sheet of approx. US$ 14 billion as of March 2002. Bank of Baroda (Uganda) is listed on the Uganda Securities Exchange
Uganda Securities Exchange
The Uganda Securities Exchange 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 central bank.The exchange's doors opened to trading in...
, (USE), effective November 14, 2002, where it trades under the symbol BOBU. It is the 8th largest bank in Uganda, with an estimated asset valuation of $193.1 million as of December 2009.
History
BBI has been in operation for 94 years in IndiaIndia
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
and 49 years in East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
where BBI opened its first overseas branches in Mombasa
Mombasa
Mombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
in 1953. The Group commenced operations in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
on 18 December 1953, initially as an overseas branch of BBI. On 1 Nov 1969, BOBU was duly incorporated in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. In 1972, BOBU acquired the banking business of Bank of India Uganda Limited and the Government of Uganda acquired a 49% shareholding in BOBU, leaving BBI with a 51% shareholding. In 1999, the Government of Uganda divested its 49% shareholding, reverting the entire BOBU to BBI. In November 2002, 20% of the shareholding of BOBU was offered to institutional and private investors on the Uganda Securities Exchange
Uganda Securities Exchange
The Uganda Securities Exchange 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 central bank.The exchange's doors opened to trading in...
(USE).
Ownership
80% of BOBU is owned by BBI. The remaining 20% is owned by institutional and private investors in UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The following table shows the five (5) largest shareholders of Bank of Baroda (Uganda).
{| style="font-size:95%;"
|-
| width="80%" align="center" | Bank of Baroda (Uganda) Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
||79.99
|-
|2||National Social Security Fund (Uganda)
National Social Security Fund (Uganda)
The National Social Security Fund is a semi-government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds from employees of the private sector in Uganda, who are not covered by the Government Retirement Scheme...
||6.69
|-
|3||UCEC Pension Scheme||1.25
|-
|4||Byamugisha Joseph||0.63
|-
|5||Shri Sthanakvasi Jain Sangh||0.50
|-
|6||Others||11.94
|-
| ||Total||100.0
|-
|}
- UCEC = Uganda Communications Employees Contributory Pension Scheme
- Source: Livingstone Registrars
Management team
V. Santhanaraman is Chairman of the BoardChairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
and V. M. Gupta is the Managing Director.
Branch network
As of February, 2009, Bank of Baroda (Uganda) has a network of ten (10) branches in the central, eastern, northern and western parts of UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank employs 160 people of whom about 20 are seconded to the bank from Bank of Baroda (India). The current branch network includes the following locations:
- Head Office - Kampala Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Iganga Branch - Main Street, IgangaIganga.Iganga is a town in Eastern Uganda. It is the main municipal, administrative and commercial center of Iganga District and the district headquarters are located there. The district is named after the town.-Location:...
- Jinja Branch - Iganga Road, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Mbale Branch - Pallisa Road, MbaleMbaleMbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
- Mbarara Branch - Masaka Road MbararaMbararaMbarara is a town in Western Uganda. It is the main municipal, administrative and commercial center of Mbarara District and the location of the district headquarters. It is also the largest urban centre in Western Uganda.-Location:...
- Railway Station Branch - Kampala Railway Station, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kansanga Branch - Ggaba Road, KansangaKansanga-Location:Kansanga is bordered by Kabalagala and Kisugu to the north, Muyenga to the northeast, Kiwafu to the east, Bbunga to the southeast, Konge to the south, Lukuli to the southwest, Kibuye to the west and Nsambya to the northwest. The road distance between Kampala's central business district...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Kawempe Branch - Bombo Road, KawempeKawempeKawempe 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. The five divisions are:* Kampala Central Division* Lubaga Division...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Mukono Branch - Jinja RoadKampala-Jinja HighwayKampala-Jinja Highway is a road in Uganda, connecting the cities of Kampala and Jinja. Sometimes referred to as Kampala-Jinja Road, it is a busy road, with several towns, trading centers and other landmarks along the way.-Location:...
, Mukono - Lira Branch - Aputi Road, LiraLira, UgandaLira is a city in Northern Uganda. It is the main municipal, administrative and commercial centre of Lira District. Lira was the main metropolitan center of the now defunct Lango District ....
- Ovino Market Branch - Tirupati Ovino Market, Kisenyi, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
External links
See also
- Bank of BarodaBank of BarodaBank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
- List of banks in Uganda
- Banking in UgandaBanking in Uganda-The early years:Prior to Uganda’s independence in 1962, Government-owned institutions dominated most banking in Uganda. In 1966 the Bank of Uganda, which controlled the issue of currency and managed foreign exchange reserves, became the Central Bank. Uganda Commercial Bank, which had fifty...
- Uganda Securities ExchangeUganda Securities ExchangeThe Uganda Securities Exchange 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 central bank.The exchange's doors opened to trading in...