Bank of India (Uganda)

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Bank of India (Uganda)
Type Private
Industry Financial Services
Founded 2012
Headquarters Kampala, Uganda
Key people

Alok Misra
Group Chairman
Peter Kabatsi
Chairman[1]

Rakesh Sehgal
Managing Director and CEO
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:US$359,000+ (UGX:896 million) (2012)[2]

Bank of India (Uganda) Limited (BOIU), commonly referred to as Bank of India (Uganda) (BOI Uganda), is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.[3]

Overview[edit]

As of June 2012 Bank of India (Uganda) is a small, but growing, financial services provider in Uganda. The valuation of the total assets and shareholders' equity of the institution are not publicly known at this time.

History[edit]

The bank had a presence in Uganda prior to 1972. Following the expulsion of Asians from the country by Idi Amin in 1972, Bank of India sold its assets to Bank of Baroda and exited the country. In 2012 the bank returned. It was issued a commercial banking license by Bank of Uganda, in March 2012. The bank commenced business operations on Monday 10 June 2012.[4][5][6]

Bank of India Group[edit]

By virtue of its shareholding, BOIU is a member of the Bank of India Group, a financial services conglomerate, whose shares are listed on the Bombay Stock Exchange. The stock of the group is 65.9% owned by the Government of India and is one of the five largest banks in India, with over 4,000 branches (30 of them outside India) and over 1,650 automated teller machines. The member companies of Bank of India Group include but are not limited to the following:[7]

Branches[edit]

The bank has a network of branches at the following locations:

  1. Main Branch - 37 Jinja Road, Jinja Road, Kampala (Next to the offices of National Water and Sewerage Corporation).

See also[edit]

References[edit]

  1. ^ Nalubega, Flavia (20 June 2012). "Bank of India Urged On Agriculture As It Resumes Operations". Daily Monitor. Retrieved 1 May 2014. 
  2. ^ Businge, Julius (10 May 2013). "Bad Year For Banks". The Independent (Uganda). Retrieved 1 May 2014. 
  3. ^ "List of Licensed Commercial Banks In Uganda". Bank of Uganda. Retrieved 1 May 2014. 
  4. ^ Businge, Julius (2 May 2012). "Bank of India Returns To Uganda". The Independent (Uganda). Retrieved 1 May 2014. 
  5. ^ Nalubega, Flavia (8 June 2012). "New Banks Kick Off Operations Amid Market Volatilities". Daily Monitor. Retrieved 1 May 2014. 
  6. ^ Samuel Sanya, Andrew Ssenyonga (19 June 2012). "Bank of India Returns After 4 Decades". New Vision. Retrieved 1 May 2014. 
  7. ^ Nantaba, Eriosi (1 July 2012). "Bank of India Returns to Uganda". East African Business Week via AllAfrica.com. Retrieved 1 May 2014. 
  8. ^ "About Bank of India (Botswana)". Bank of India (Botswana). Retrieved 1 May 2014. 

External links[edit]