Bank Of India (Uganda)

Bank of India (Uganda) Limited, commonly known as Bank of India (Uganda), is a commercial bank that has been providing exceptional banking services to Ugandan customers since its establishment in 2012. The bank is licensed by the Bank of Uganda, which is the national banking regulator, ensuring that it operates with the highest level of professionalism and compliance.Under the leadership of its Managing Director, Mr. Vikash Krishna, Bank of India (Uganda) has rapidly grown to become a key player in the financial sector, catering to the needs of corporate, medium business, up-market retail customers, and micro and small businesses. The bank offers a wide range of products and services, including savings and current accounts, fixed deposits, personal and retail loans, SME loans, corporate loans, bill discounting, letters of credit, and bank guarantees.Bank of India (Uganda) is a financially stable institution, with total assets of UGX 204 billion as of December 2018. The bank recorded customer deposits of UGX 125.45 billion and a loan book of UGX 127.34 billion during the same period. The bank also recorded a profit of UGX 4.1 billion after taxes in the 12 months ended 31 December 2018, a testament to its sound financial management.With a rich history of international expansion dating back to 1946, Bank of India has established itself as a trusted name in banking worldwide. The bank opened its first branch in London, and later expanded to Tokyo, Singapore, Kenya, and Uganda, among other countries. Despite leaving Uganda in 1972 following the expulsion of Asians by Idi Amin, Bank of India (Uganda) returned to the country in 2012 after being issued a commercial banking license by the Bank of Uganda.In its short time since returning to Uganda, Bank of India (Uganda) has demonstrated exceptional business growth, profitability, and asset quality with zero non-performing assets. The bank has been making profits from the first year of its operations and declared dividends in its fifth year of operations. Overall, Bank of India (Uganda) is one of the better-performing banks among all the newer banks in the country, and a trusted partner to many Ugandan customers.