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]
