Bank of Baroda (Uganda) (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 10th largest bank in Uganda, with an estimated asset valuation of $120 million as of April 2009. ^[2]

[edit] History

BBI has been in operation for 94 years in India 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).^[3]

[edit] Ownership

80% of BOBU is owned by BBI. The remaining 20% is owned by institutional and private investors in Uganda. The following table shows the five (5) largest shareholders of Bank of Baroda (Uganda). ^[4]

Bank of Baroda (Uganda) Stock Ownership

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 UCEC = Uganda Communications Employees Contributory Pension Scheme Source: Livingstone Registrars [edit] Management team V. Santhanaraman is Chairman of the Board and V. M. Gupta is the Managing Director. [edit] Branch network As of February, 2009, Bank of Baroda (Uganda) has a branch network of ten branches in the central, eastern, northern and western parts of Uganda. 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:[5] Head Office - Kampala Road, Kampala Iganga Branch - Main Street, Iganga Jinja Branch - Iganga Road, Jinja Mbale Branch - Pallisa Road, Mbale Mbarara Branch - Masaka Road Mbarara Railway Station Branch - Kampala Railway Station, Kampala Kansanga Branch - Ggaba Road, Kansanga, Kampala Kawempe Branch - Bombo Road, Kawempe, Kampala Mukono Branch - Jinja Road, Mukono Lira Branch - Aputi Road, Lira[6] [edit] External links Bank of Baroda (Uganda) Website Bank of Baroda (India) Website Uganda Securities Exchange Website [edit] See also Bank of Baroda List of banks in Uganda Banking in Uganda Uganda Securities Exchange [edit] References ^ BOBU Profits of $6.74m in 2008 ^ Asset Allocation Among Ugandan Banks ^ History of BOBU ^ 5 Largest Stockholders of BOBU ^ Branches of Bank of Baroda in Uganda ^ Bank of Baroda Opens Branch in Lira This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. v • d • e This Uganda-related article is a stub. You can help Wikipedia by expanding it. v • d • e This African bank or banking-related article is a stub. You can help Wikipedia by expanding it. v • d • e This African corporation or company article is a stub. You can help Wikipedia by expanding it. v • d • e