Bank of Africa (Uganda)
|Key people||John Caruthers
|Products||Loans, Savings, Investments, Debit Cards, Credit Cards Mortgages|
|Revenue||Aftertax:US$3.86 million (UGX:9.75 billion) (2012)|
|Total assets||US$177.5 million (UGX:446.9 billion) (2012)|
Bank of Africa (Uganda) (BOA Uganda), whose complete name is Bank of Africa (Uganda) Limited, is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the country's central bank and the national banking regulator.
BOA Uganda is involved in all aspects of commercial banking with emphasis on provision of banking services to multinational companies, mid-size local enterprises and small retail businesses. As of December 2012[update], BOA Uganda was a medium-sized financial services provider in Uganda, with a total asset base valued at about US$177.5 million (UGX:446.9 billion). This represented approximately 2.9% of all commercial bank assets in the country, at that time. Then, the shareholders' equity amounted to about US$22 million (UGX:55.6 billion).
Bank of Africa Group
The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in fourteen African countries, including Benin, Burkina Faso, Burundi, Democratic Republic of the Congo, Djibouti, Ghana, Kenya, Ivory Coast, Madagascar, Mali, Niger, Senegal, Tanzania and Uganda. The group also maintains an office in Paris, France. As of December 2011[update], the group employed more than 4,500 people in about 340 offices, in 15 countries, servicing nearly 1,200,000 bank accounts.
Bank of Africa (Uganda) started its operations in 1984 as Sembule Investment Bank. In 1996, Sembule Investment Bank was purchased by Banque Belgolaise and the Netherlands Development Finance Company (FMO). The new owners renamed the bank Allied Bank. In October 2006, Banque Belgolaise sold their shares to a group of investors that included Bank of Africa (Kenya), Aureos East Africa Fund LLC and Central Holdings (Uganda) Limited. The name of the bank was changed to Bank of Africa (Uganda) Limited.
The share ownership of Bank of Africa (Uganda) is summarized in the table below, as of March 2013: