Commercial bank in Uganda
United Bank for Africa Uganda Limited, also UBA Uganda, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. UBA Uganda is a subsidiary of the United Bank for Africa, headquartered in Lagos, Nigeria, with a presence in twenty African countries, the United Kingdom, France, and the United States. The stock of UBA Transnational trades on the Nigeria Stock Exchange under the symbol UBA.
Location.
The headquarters of UBA Uganda are located at Plot 2, Jinja Road, in the central business district of Kampala, the capital and largest city in Uganda. The geographical coordinates of the bank's headquarters are:00°18'49.0"N, 32°35'17.0"E (Latitude:0.313611; Longitude:32.588056).
Overview.
UBA Uganda is a retail bank that serves small and medium enterprises (SMEs), large corporations and individual customers. As of 31 December 2023, UBA Uganda's total assets were USh 623,093,431,000/ (approx. US$164.235 million), with shareholders' equity of USh 142,572,067,000/ (approx. US$37.6 million).
History.
UBA Uganda commenced operations in May 2008, starting with the opening of the main branch on the Kampala-Jinja Highway in Kampala. The Nigeria-based parent company, United Bank for Africa, started operations in Uganda with a capital base of US$12 million. It was a greenfield start-up.
Within the first six months, the bank established four branches within Kampala and its suburbs. During the following six months, "UBA Uganda Limited" added two upcountry branches, one in Jinja, about east of Kampala, and the other in Mbale, a city located about , by road, north-east of the capital.
Ownership.
UBA Bank Uganda is a subsidiary of the United Bank for Africa, headquartered in Lagos, Nigeria and with a presence in twenty African countries, the United Kingdom, France, and the United States. The table below illustrates the shareholding in the stock of UBA Bank Uganda, as of December 2023.
Branch network.
As of September 2020, UBA Uganda maintained branches at the following locations:
Recent developments.
Effective 1 October 2021, Bank of Uganda, the central bank and national banking regulator, named UBA Uganda Limited, as a Primary Dealer Bank (PDB). PDBs are authorised to "facilitate the buying and selling of treasury bills and bonds to investors who do not have access to the primary market". The seven other PDBs are (1) Stanbic Bank Uganda Limited (2) Centenary Bank (3) Standard Chartered Uganda (4) Absa Bank Uganda Limited (5) DFCU Bank (6) Bank of Baroda (Uganda) and (7) Housing Finance Bank.
References.
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