Bank of Baroda Uganda Limited

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The Bank of Baroda Uganda Limited, also known as the Bank of Baroda Uganda (BBU), is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.

Video Bank of Baroda Uganda Limited

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 (BBI), an international bank with headquarters in Mumbai, India. BBU is listed on the Uganda Securities Exchange (USE) where it trades under the symbol "BOBU". In December 2014, BBU was the seventh largest commercial bank in Uganda, with estimated assets of UGX:1.136 trillion and shareholders' equity of UGX:194.1 billion.

Maps Bank of Baroda Uganda Limited

History

BBI opened its first overseas branches in Mombasa, Kenya and Kampala, Uganda in 1953. BBI commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BBI. 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 BBI with a 51 percent shareholding. In 1999, the government divested its 49 percent shareholding, returning full ownership of BBU to BBI. In November 2002, BBU offered 20 percent of its shares to institutional and private investors on the USE through an initial public offering.

Bank of Baroda, India's International Bank

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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.

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Ownership

BBI owns 80 percent of BBU, with the remaining 20 percent owned by institutional and private investors in Uganda. The following table shows the five largest shareholders of BBU.