[2] BOBU is involved in all aspects of commercial banking, focusing on large corporations, small and medium enterprises, and individuals.

BOBU commenced operations in Uganda on 18 December 1953, initially as an overseas branch of BoB.

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.

[1] The following table shows the ten largest shareholders of BBU stock, as of 31 December 2022.