Bank of Baroda (U) Ltd started its operations on 18.12.1953 by opening its first branch at Kampala. Later on, it was incorporated as Subsidiary of Bank of Baroda-India with 49% shareholding of Govt. of Uganda. Under privatization move of Govt. of Uganda, Parent Bank- Bank of Baroda (India) became the sole owner by taking over 49% shareholding of Govt. of Uganda on 07.06.1999 and divested 20% shares to public in Sept. 2002.
In June 2002, bank split its share of Ugx.1,000/- each into Ugx.100/- each before divestment of 20% shareholding to the public. The IPO of 20% shares having face value of Ugx.100/- were offered at Ugx.600/- during Sept. 2002. Further, split of Bank’s share in a ratio of ten shares for every one share held has been affected on 08.09.2008. Consequently the nominal value of each ordinary share of UGX.100/- has been converted into UGX.10/- each.
Pursuant to the Financial Institutions (Revision in Minimum Capital Requirements) Instrument 2010, the Bank has enhanced its capital from Ugx 4.00 Bn to Ugx 25.00 Bn in two phases. The number of ordinary shares of Ugx 10/- each has also increased from 400,000,000 to 2,500,000,000.At present Bank of Baroda, India holds 80% shares of the Bank.
Bank of Baroda (u) Ltd was the first Financial Institution in the country to list its shares at the Uganda Securities Exchange. The Bank issued bonus to its shareholders at two occasions in 2011 and 2013.
The Bank has facilitated unprecedented capital growth for its shareholders. Baroda shares have appreciated by 15 times of the initial investment in a span of 10 years which shows the respect and image of Brand Baroda.
Baroda is serving Ugandans uninterruptedly for more than 6 Decades. The Bank has contributed significantly in the reconstruction and development of the economy for more than 60 years of service to the people of Uganda. The Bank is one of the foremost leading international banks in the country presently operating through its 35 service outlets i.e. 15 (Fifteen) branches and 20(Twenty) ATMs with a wide geographical reach throughout Uganda. Baroda is one of the most compliant Banks in the country.
Baroda believes in rendering highest quality of service, customer care and operational excellence. The Bank therefore operates on a Robust Technology platform called “Finacle” since 2008. Transaction Based Internet Banking “Baroda Connect” offered by the Bank is best in the class in the whole banking industry.
Baroda provides an array of products ranging from Savings Bank account, Current account, Time Deposits, Loans & Advances, ATM facilities, Forex, Treasury, Remittances, Brokerage and Investment advisory, to mention a few besides remittance, forex, collection of URA taxes, water payment of NW&SC, NSSF contribution , Umeme Power Bills etc.
Bank of Baroda has in its own humble way tried to touch many aspects of community care by contributing towards various causes and helping the poor, downtrodden and underprivileged persons which are being looked into by very good organizations. It is a way to give back to the society by supporting the efforts of the Government, NGOs, educational institutions and organizations. The Bank has been contributing for the following causes:-
Education & Religion:-
Baroda believes in Trust, Transparency, and Togetherness.