Barclays Bank of Uganda

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Barclays Bank of Uganda
Private
Industry Financial services
Founded 1927; 91 years ago (1927)
Headquarters Kampala, Uganda
Key people
Rakesh Jha[1]
Managing Director
Products Loans, checking, savings, investments, debit cards
Revenue Increase Aftertax:UGX:72.01 billions (2017)[2]
Total assets UGX:2.477 trillion (2017)[2]
Number of employees
850+ (2014)
Website Homepage

Barclays Bank of Uganda Limited, commonly known as Barclays Bank Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.[3]

Overview[edit]

The bank is primarily involved in meeting the banking needs of individuals, small and medium-sized businesses (SMEs), and large corporations. Before 2006, the bank focused on meeting the banking needs of only large corporations and high-net-worth individuals. That focus was loosened to include SMEs and regular customers.[4] As of December 2017, the bank's total assets were valued at UGX:2.477 trillion (approximately US$668 million), with shareholders equity of UGX:448.2 billion (approximately US$121 million).[2] At that time, Barclays Uganda was the fifth-largest commercial bank, by assets.[5]

History[edit]

The bank opened in 1927, with two branches in the capital city, Kampala, and one in Jinja, the country's second-largest commercial centre. In 1969, the bank acquired the Ugandan business of the Commercial Bank of Africa.[6] In February 2007, the bank completed its acquisition of Nile Bank Uganda Limited, strengthening its presence in the country.[7][8]

Ownership[edit]

In 1969, the bank's stock was 51 percent held by Barclays and 49 percent held by the government of Uganda.[6] By 2001, the bank had become a wholly owned subsidiary of Barclays.[9] Since March 2016, the bank has been wholly owned by the Barclays Africa Group.[10] With the re-branding of Barclays Africa Group, in 2018, Barclays Uganda is a 100 percent subsidiary of Absa Group Limited.[11]

Branch network[edit]

The bank's headquarters is at 2 Hannington Road, on Nakasero Hill, in Kampala. As of July 2013, the bank maintained branches at the following locations:[12][13]

  1. Bugoloobi Branch - 128 Spring Road, Bugoloobi, Kampala
  2. Hannington Road Branch - 2 Hannington Road, Nakasero, Kampala Main Branch
  3. Premier Banking Branch - Hannington Road at Shimoni Road, Nakasero, Kampala
  4. Garden City Prestige Centre - Garden City, Yusuf Lule Road, Kampala[14]
  5. Kampala Road Branch - 16 Kampala Road, Kampala
  6. Kansanga Branch - 529 Ggaba Road, Kansanga, Kampala
  7. Kawempe Branch - Katongole Building, 2522 Masindi Highway, Kawempe, Kampala
  8. Kireka Branch - 174 Kampala-Jinja Highway, Kireka
  9. Lubowa Branch - Quality Hill Shopping Complex, 1621 Lubowa Estate, Lubowa
  10. Lugazi Branch - 121 Kampala Road, Lugazi
  11. Lugogo Branch - 2-8 Lugogo Bypass Road, Lugogo
  12. Luwuum Street Branch - Luwum Street, Kampala
  13. Nakawa Branch - URA Customs Building, 1-3, Sebei Lane, Nakawa, Kampala
  14. Naakulabye Branch - 1254 City Petrol Station, Makerere Hill Road, Naakulabye
  15. Ndeeba Branch - 479 Masaka Road, Ndeeba, Kampala
  16. Ntinda Branch - Ntinda Shopping Mall, Kimera Road, Ntinda, Kampala
  17. Ovino Market Branch - Ovino Market, Kampala[15]
  18. Parliament Ave Branch - IPS Building, 14 Parliament Avenue, Kampala
  19. Rwenzori Courts Branch - 1 Lumumba Avenue, Nakasero Hill, Kampala
  20. Shauriyako Branch - 34-38 Nakivubo Road, Kampala
  21. Tankhill Parade Branch - 2683 Kisugu-Muyenga Road, Muyenga, Kampala
  22. UN Base Branch - United Nations Base, Entebbe
  23. Wandegeya Branch - 170 Bombo Road, Wandegeya, Kampala
  24. Abaita Ababiri Branch - Entebbe-Kampala Road, Abayita Ababiri
  25. Kitoro Branch - Kitoro, Entebbe
  26. Masaka Branch - 2 Broadway Street, Masaka
  27. Mukono Branch - Best Meals Building, Mukono
  28. Busia Border Branch - Busia Customs Yard, Busia
  29. Iganga Branch - 85 Main Street, Iganga
  30. Jinja Branch - 81 Main Street, Jinja
  31. Mbale Branch - Republic Street, Mbale
  32. Soroti Branch - 40 Gweri Road, Soroti[16]
  33. Tororo Branch - 4 Mbale Road, Tororo
  34. Arua Branch - 1D Transport Road, Arua
  35. Gulu Branch - 32 Gulu Avenue, Gulu
  36. Lira Branch - 10 Soroti Road, Lira
  37. Fort Portal Branch - 14 Bwamba Road, Fort Portal
  38. Hoima Branch - 56 Main Street, Hoima
  39. Ishaka Branch - Ishaka
  40. Kabale Branch - 190 Main Street, Kabale
  41. Kasese Branch - 68 Rwenzori Road, Kasese
  42. Masindi Branch - 77 Port Road, Masindi
  43. Mbarara Branch - 66 High Street, Mbarara

Governance[edit]

The bank is governed by a board of directors. The chairman of the board is one of the non-executive directors. The managing director is Rakesh Jha. He holds an MBA in Marketing gained from IMED and a Bachelor of Arts (BA) degree gained from the University of Mumbai. Immediately prior to his appointment as managing director, Jha was managing director of Barclays Bank Seychelles.[17]

See also[edit]

References[edit]

  1. ^ Adengo, Jonathan (23 February 2015). "Barclays Bank Re-Launches Prestige Banking". Daily Monitor. Kampala. Retrieved 23 February 2015. 
  2. ^ a b c Barclays Bank Uganda (15 March 2018). "Financial Statement As At 31 December 2017" (PDF). Kampala: Barclays Bank of Uganda. Retrieved 25 May 2018. 
  3. ^ Bank of Uganda (31 March 2017). "List of Licensed Commercial Banks As March 2017" (PDF). Kampala: Bank of Uganda. Retrieved 3 May 2018. 
  4. ^ "Overview of Barclays Bank Uganda". Barclays Bank Uganda. Retrieved 2 May 2014. 
  5. ^ Kamukama, Eronie (16 July 2018). "Barclays pins growth on rebrand". Daily Monitor. Kampala. Retrieved 20 July 2018. 
  6. ^ a b Barclays Africa Group (31 December 2017). "Barclays Africa Group: Uganda: About Us: 1969". Johannesburg: Barclays Africa Group. Retrieved 31 December 2017. 
  7. ^ URN Reporter (20 December 2006). "Barclays Confirms Purchase of Nile Bank". Kampala: Uganda Radio Network (URN). Retrieved 4 August 2014. 
  8. ^ Lori Chang (22 January 2007). "UK-Based Financial Services Group Barclays Buys Nile Bank of Uganda and Plans to Enter Microfinance Sector in Uganda". MicroCapital. Retrieved 4 August 2016. 
  9. ^ "Founding banks and building societies: Barclays Bank of Uganda Limited". Barclay Bank. 30 August 2015. Retrieved 30 August 2015. 
  10. ^ Khisa, Isaac (8 March 2016). "Uganda: Barclays to Get New Owners". The Independent (Uganda) via AllAfrica.com. Kampala. Retrieved 8 March 2016. 
  11. ^ Adengo, Jonathan (2 March 2018). "Barclays becomes Absa". Daily Monitor. Kampala. Retrieved 21 July 2018. 
  12. ^ "List of Branches of Barclays Bank Uganda". Barclays Bank Uganda. Retrieved 2 May 2014. 
  13. ^ Mwesigwa, Alon (15 January 2013). "Barclays Closes Branches, ATMs". The Observer (Uganda). Retrieved 2 May 2014. 
  14. ^ Ssonko, Kiganda (14 December 2008). "Multi Billion Shopping Center Opens In February 2009". New Vision. Archived from the original on 3 May 2014. Retrieved 2 May 2014. 
  15. ^ Sseppuya, Mikaili (21 May 2008). "Banks Rush for Ovino Market Shops". New Vision. Archived from the original on 3 May 2014. Retrieved 2 May 2014. 
  16. ^ Omoding, John (18 May 2008). "Barclays Goes To Soroti". New Vision (Kampala). Archived from the original on 18 May 2015. Retrieved 2 May 2014. 
  17. ^ Nation Reporter (15 September 2014). "James Kinyany Appointed Barclays Seychelles' Interim Managing Director". Seychelles Nation. Seychelles. Retrieved 9 September 2014. 

External links[edit]

Coordinates: 00°19′14.5″N 32°35′12″E / 0.320694°N 32.58667°E / 0.320694; 32.58667