Barclays Bank of Uganda

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Barclays Bank of Uganda
Private
Industry Financial services
Founded 1927
Headquarters Kampala, Uganda
Key people
 Rakesh Jha[1]
managing director
Products Loans, checking, savings, investments, debit cards
Revenue Increase Aftertax: US$14.8 million (UGX:41 billion) (2014)
Total assets UGX:1.4 trillion (2014)
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 one of the commercial banks licensed by the Bank of Uganda, the central bank and national banking regulator.[2]

Overview

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.[3] As of December 2014, the bank was the fifth-largest commercial bank in Uganda, with assets valued at UGX:1.4 trillion.[4] At that time, the bank had 136,000 account holders, 42 branches, and 85 ATM outlets and employed 850 staff.[5]

History

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 1971, 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.[citation needed]

Ownership

Upon incorporation, the bank's stock was 51 percent held by Barclays and 49 percent held by the government of Uganda. By 2001, the bank had become a wholly owned subsidiary of Barclays.[7] Since March 2016, the bank has been wholly owned by the Barclays Africa Group.[8]

Branch network

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:[9][10]

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Governance

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. Immediately prior to his appointment as chairman, Jha was managing director of Barclays Seychelles.[14]

See also

References

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External links

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