Bank of India (Uganda)

Bank of India (Uganda)
Type	Private
Industry	Financial Services
Founded	2012
Headquarters	Kampala, Uganda
Key people	Alok Misra; Group Chairman; Peter Kabatsi; Chairman; Rakesh Sehgal; Managing Director and CEO
Products	Loans, Checking, Savings, Investments, Debit Cards

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.²

Overview

As of June 2012^[update] 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

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 2012.³ The bank commenced business operations on Monday 10 June 2012.⁴⁵⁶

Bank of India Group

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