Barclays Bank of Uganda

Last updated
Barclays Bank of Uganda
Private
Industry Financial services
Founded1927;92 years ago (1927)
Headquarters Kampala, Uganda
Key people
Swithin Munyantwali
Chairman [1] [2]
Mian Nazim Mahmood
Ag. Managing Director [1]
ProductsLoans, checking, savings, investments, debit cards
RevenueIncrease2.svg Aftertax:UGX:72.01 billions (2017) [3]
Total assets UGX:2.477 trillion (2017) [3]
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. [4]

A commercial bank is a type of bank that provides services such as accepting deposits, making business loans, and offering basic investment products that is operated as a business for profit.

Uganda Republic in East Africa

Uganda, officially the Republic of Uganda, is a country in East-Central Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The southern part of the country includes a substantial portion of Lake Victoria, shared with Kenya and Tanzania. Uganda is in the African Great Lakes region. Uganda also lies within the Nile basin, and has a varied but generally a modified equatorial climate.

Bank of Uganda central bank

The Bank of Uganda is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department.

Contents

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. [5] 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). [3] At that time, Barclays Uganda was the fifth-largest commercial bank, by assets. [6]

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 1969, the bank acquired the Ugandan business of the Commercial Bank of Africa. [7] In February 2007, the bank completed its acquisition of Nile Bank Uganda Limited, strengthening its presence in the country. [8] [9]

Kampala Capital city in Uganda

Kampala is the capital and largest city of Uganda. The city proper is estimated to have population of 1,680,800 people in 2019 and is divided into five boroughs of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Rubaga Division.

Jinja, Uganda Place in Eastern Region, Uganda

Jinja is a city in Uganda, located on the shores of Lake Victoria.

Commercial Bank of Africa Group is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.

Ownership

In 1969, the bank's stock was 51 percent held by Barclays and 49 percent held by the government of Uganda. [7] By 2001, the bank had become a wholly owned subsidiary of Barclays. [10] Since March 2016, the bank has been wholly owned by the Barclays Africa Group. [11] With the re-branding of Barclays Africa Group, in 2018, Barclays Uganda is a 100 percent subsidiary of Absa Group Limited. [12]

Absa Group Limited

Absa Group Limited, formerly Barclays Africa Group Limited, and originally Amalgamated Banks of South Africa, is an African based financial services group, offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. It is the majority shareholder of 11 banks spanning Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda and Zambia, with a further two representative offices in Namibia and Nigeria. It also has an international office in London, which opened in September 2018.

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: [13] [14]

Nakasero Place in Uganda

Nakasero is a hill located in central Kampala, the capital and largest city of Uganda. Nakasero is important to Uganda's economy and politics, as it is home to Kampala's central business district and several government offices, including the Ugandan Parliament Buildings.

  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 [15]
  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 [16]
  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 [17]
  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

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. [18]

Board of directors Board composed of directors

A board of directors is a group of people who jointly supervise the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency. Such a board's powers, duties, and responsibilities are determined by government regulations and the organization's own constitution and bylaws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet.

A Bachelor of Arts is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, sciences, or both. Bachelor of Arts programs generally take three to four years depending on the country, institution, and specific specializations, majors, or minors. The word baccalaureus should not be confused with baccalaureatus, which refers to the one- to two-year postgraduate Bachelor of Arts with Honors degree in some countries.

University of Mumbai state university in Mumbai, Maharashtra, India

The University of Mumbai, informally known as (MU), is one of the earliest state universities in India and the oldest in Maharashtra. It offers bachelors, masters and Doctoral courses, as well as diplomas and certificates in many disciplines like the Arts, commerce, Science, Medical and Engineering. The language of instruction for most courses is English.

See also

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References

  1. 1 2 Martin Luther Oketch (18 July 2019). "Barclays Bank Appoints Nazim To Replace Jha". Daily Monitor . Kampala. Retrieved 18 July 2019.
  2. ↑ Absa Group Limited (13 September 2019). "Absa Group Limited Board Appoints Barclays Uganda Chairman As Non-Executive Director". Johannesburg: Absa Group Limited . Retrieved 24 September 2019.
  3. 1 2 3 Barclays Bank Uganda (15 March 2018). "Financial Statement As At 31 December 2017" (PDF). Kampala: Barclays Bank of Uganda. Retrieved 25 May 2018.
  4. ↑ Bank of Uganda (31 March 2017). "List of Licensed Commercial Banks As March 2017" (PDF). Kampala: Bank of Uganda . Retrieved 3 May 2018.
  5. ↑ "Overview of Barclays Bank Uganda". Barclays Bank Uganda. Retrieved 2 May 2014.
  6. ↑ Kamukama, Eronie (16 July 2018). "Barclays pins growth on rebrand". Daily Monitor . Kampala. Retrieved 20 July 2018.
  7. 1 2 Barclays Africa Group (31 December 2017). "Barclays Africa Group: Uganda: About Us: 1969". Johannesburg: Barclays Africa Group . Retrieved 31 December 2017.
  8. ↑ URN Reporter (20 December 2006). "Barclays Confirms Purchase of Nile Bank". Kampala: Uganda Radio Network (URN). Retrieved 4 August 2014.
  9. ↑ 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. Archived from the original on 3 October 2016. Retrieved 4 August 2016.
  10. ↑ "Founding banks and building societies: Barclays Bank of Uganda Limited". Barclay Bank. 30 August 2015. Retrieved 30 August 2015.
  11. ↑ Khisa, Isaac (8 March 2016). "Uganda: Barclays to Get New Owners". The Independent (Uganda) via AllAfrica.com . Kampala. Retrieved 8 March 2016.
  12. ↑ Adengo, Jonathan (2 March 2018). "Barclays becomes Absa". Daily Monitor . Kampala. Retrieved 21 July 2018.
  13. ↑ "List of Branches of Barclays Bank Uganda". Barclays Bank Uganda. Retrieved 2 May 2014.
  14. ↑ Mwesigwa, Alon (15 January 2013). "Barclays Closes Branches, ATMs". The Observer (Uganda) . Retrieved 2 May 2014.
  15. ↑ 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.
  16. ↑ 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.
  17. ↑ Omoding, John (18 May 2008). "Barclays Goes To Soroti". New Vision (Kampala). Archived from the original on 18 May 2015. Retrieved 2 May 2014.
  18. ↑ Nation Reporter (15 September 2014). "James Kinyany Appointed Barclays Seychelles' Interim Managing Director". Seychelles Nation . Seychelles. Retrieved 9 September 2014.

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