Bank of India (Uganda)

Bank of India (Uganda) Limited, commonly known as Bank of India (Uganda) or BOIUL, is a commercial bank operating in Uganda under a license issued by the Bank of Uganda. It was established as the Bank of India Group's return to the Ugandan market after the group's earlier presence was ended in the 1970s. The bank received its commercial banking license in 2012 and began operations on 18 June 2012. The institution was created with a broad target market. Its stated objectives included serving corporate customers, medium-sized businesses and up-market retail clients, while also supporting developmental banking for micro and small enterprises. Its product range covers ordinary savings and current accounts, fixed and recurring deposits, personal and other retail loans, small and medium-sized enterprise lending, corporate credit, bill discounting, letters of credit and bank guarantees. This mix gives the bank both a conventional deposit-taking function and a trade- and business-finance orientation. BOIUL is part of the wider Bank of India Group rather than an independently listed Ugandan banking group. The parent institution is an Indian state-controlled bank with an international network, and the Ugandan subsidiary uses that group affiliation to support cross-border banking and commercial relationships. The Ugandan bank's local footprint has included branches in Kampala, including a location on Jinja Road along the Kampala-Jinja Highway and another at Equatorial Mall on Bombo Road. The bank's historical connection with Uganda dates to Bank of India's earlier international expansion. Bank of India opened its first overseas branch in London in 1946 and subsequently established operations in several Asian and East African markets, including Uganda in 1953. That first Ugandan presence ended after the expulsion of Asians from Uganda during Idi Amin's rule in 1972, when the bank sold its local assets to Bank of Baroda and withdrew. The 2012 license and launch therefore represented a re-entry rather than a continuous operating history. Publicly cited information for the year ended 31 December 2018 reported total assets of USh 204 billion, customer deposits of USh 125.45 billion and a loan book of USh 127.34 billion. The same reporting stated that the bank earned profit after tax of USh 4.1 billion for that year. These figures describe a specific historical reporting period and should not be treated as current financial data. The reference material also states that the bank became profitable from its first year of operations and paid dividends in its fifth year. Its business profile has been associated with growth, profitability and asset quality among newer Ugandan banks, although current performance and ownership information require verification from up-to-date regulatory or company disclosures.

Bank of India (Uganda) Limited is the Ugandan operating entity of the Bank of India Group. Its history has two distinct phases. The first began during Bank of India's international expansion after the Second World War. In 1946, the parent bank opened a branch in London, described in the reference material as the first overseas branch opened by an Indian bank. It later expanded into Tokyo, Singapore, Kenya, Uganda and other international locations. The original Ugandan operation opened in 1953. That first presence did not continue uninterrupted. In 1972, during the regime of Idi Amin, Asians were expelled from Uganda. Bank of India sold its Ugandan assets to Bank of Baroda and left the country. The later Ugandan entity is therefore a re-entry under a new operating structure rather than a direct continuation of the 1953 branch network. Bank of India returned to Uganda in 2012 after Bank of Uganda issued a commercial banking license to Bank of India (Uganda) Limited. The new bank began business on 18 June 2012. Its launch strategy emphasized corporate and medium-business customers, higher-income retail customers, and developmental finance for micro and small enterprises. The bank also offered trade-related services and standard deposit and lending products, allowing it to compete across business banking and selected retail segments. The bank's reported local network included two Kampala branches: one at 37 Jinja Road on the Kampala-Jinja Highway and another at Equatorial Mall on Bombo Road. It operated as a member of the wider Bank of India Group, whose parent bank is listed in India and whose ownership has included a majority stake held by the Government of India. The group relationship provides the Ugandan operation with an international-bank identity, while its regulated banking activities remain subject to Ugandan supervision. According to historical information cited for the year ended 31 December 2018, BOIUL had assets of USh 204 billion, customer deposits of USh 125.45 billion and loans of USh 127.34 billion. It reported profit after tax of USh 4.1 billion during that year. The same account says the bank had been profitable from its first year and declared dividends in its fifth year. These are historical figures, not a current financial statement. The available reference material identifies Srikant Ashok Wikhe as managing director and describes the bank as licensed by the Bank of Uganda. More recent information on its leadership, branch network, ownership structure and financial condition is not established by the supplied sources.

1. 2018Reported year-end financial position

   Historical reporting for the year ended 31 December 2018 cited assets of USh 204 billion, deposits of USh 125.45 billion, loans of USh 127.34 billion and profit after tax of USh 4.1 billion.

   Source
2. 2012Commercial banking license and re-entry

   Bank of India (Uganda) Limited received a commercial banking license from the Bank of Uganda and re-entered the Ugandan market.

   Source
3. 2012Business operations commence

   The re-established Bank of India (Uganda) began operating on 18 June 2012.

   Source
4. 1972Withdrawal from Uganda

   Following the expulsion of Asians from Uganda under Idi Amin, Bank of India sold its Ugandan assets to Bank of Baroda and exited the country.

   Source
5. 1953Original Ugandan presence established

   Bank of India opened an early Ugandan operation as part of its international branch expansion.

   Source
6. 1946Bank of India begins overseas expansion

   Bank of India opened its first overseas branch in London, beginning the international expansion that later brought the group to East Africa.

   Source

A Bank of India Group commercial bank serving corporate, medium-business, SME and selected up-market retail customers in Uganda.

• Deposit accountsDeposits

  BOIUL offers savings deposits, current accounts, fixed deposits and recurring deposits. Together, these products address everyday transaction needs, interest-bearing savings and more structured personal or business cash management.

• Retail and personal loansRetail banking

  The bank's retail lending range includes personal loans and other retail loans. The supplied material does not specify individual eligibility rules, pricing, security requirements or current product names.

• SME and micro-business financeBusiness banking

  SME lending forms part of the bank's stated focus on medium-sized businesses and developmental finance for micro and small enterprises. The offering is positioned to support business working capital and related financing needs, although detailed facilities are not provided in the source material.

• Corporate loansCorporate banking

  Corporate loans are part of BOIUL's commercial banking portfolio and reflect its objective of serving larger business customers. No specific sectors, loan tenors or facility limits are established by the supplied references.

• Trade-finance servicesTrade finance

  The bank provides bill discounting, letters of credit and bank guarantees. These instruments support commercial transactions, payment obligations and international or domestic trade relationships for business clients.

1. Bank of India (Uganda)