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Bank of Baroda Uganda Limited
Company type	Public: USE: BOBU
Industry	Banking, capital markets, finance
Founded	1953; 72 years ago
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)
Total assets	USh 2,804,828,346,000/= (US$746,769,400) (2023)
Owner	Bank of Baroda (80%)
Number of employees	188 (2011)
Website	Homepage

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]

Overview

BOBU 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

BoB 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

BOBU 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

The following table shows the ten largest shareholders of BBU stock, as of 31 December 2022.^[6]

**Bank of Baroda Uganda Stock Ownership**
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

As 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.

References

^ ^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.