The Bank of Baroda Uganda Limited, also known as the Bank of Baroda Uganda (BBU), is a commercial bank in Uganda and a wholly owned subsidiary of Indian government owned banking and financial service company Bank of Baroda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.
Website: http://www.bankofbaroda.ug/
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 1,875,630,000,000/= (US$498,172,000), with shareholders’ equity of 394,895,000,000/= (US$104,885,000).
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. In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE through an initial public offering.
Subsidiaries[edit]
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.
| Rank | Name of Owner | Per centage Ownership |
|---|---|---|
| 1 | Bank of Baroda of India | 80.00 |
| 2 | Sudhir Ruparelia | 2.50 |
| 3 | DFCU Bank Limited | 2.50 |
| 4 | National Social Security Fund (Uganda) | 2.00 |
| 5 | Maheshwary Puroshottam | 1.00 |
| 6 | King Ceasor Augustus Mulenga | 0.80 |
| 7 | Bank of Uganda Employee Benefits Scheme | 0.64 |
| 8 | Dr. Joseph Byambara Byamugisha | 0.63 |
| 9 | Uganda Parliamentary Pension Scheme | 0.56 |
| 10 | National Social Security Fund – PineBridge | 0.40 |
| 11 | Others | 8.97 |
| Total | 100.0 |
Branch network
As of January 2018, BBU had a branch network in all parts of Uganda, including:
- Head Office – 18 Kampala Road, Kampala (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, 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.
