The story
BoB opened its first overseas branches in Mombasa, Kenya and Kampala, Uganda in 1953. BOBU commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BoB. On 1 November 1969, BOBU was incorporated in Uganda. In 1972, BOBU acquired the banking business of the Bank of India Uganda Limited, and the government of Uganda acquired a 49 percent shareholding in BOBU, leaving BoB with a 51 percent shareholding. In 1999, the government divested its 49 percent shareholding, returning full ownership of BOBU to BoB. In November 2002, BOBU offered 20 percent of its shares to institutional and private investors on the Uganda Securities Exchange (USE) through an initial public offering.
From Wikipedia’s article on Bank of Baroda Uganda Limited, shared under CC BY-SA 4.0.4