ABSA BANK UGANDA LIMITED

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the country's central bank and national banking regulator.[4] The bank is a subsidiary of Absa Group Limited, a financial services conglomerate, based in South Africa, with banking subsidiaries in 12 African countries and representative offices in two other African countries.[5] Absa Bank Group, whose shares trade on the JSE Limited, was reported to have total assets in excess of US$91 billion, as of October 2019.[6]

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ABSA BANK UGANDA LIMITED SWIFT Code

Country

City

Bank or Institution

SWIFT Code

Uganda

KAMPALA

BARCUGKX

Uganda

KAMPALA

BARCUGKXXXX

Total: 2
1

About ABSA BANK UGANDA LIMITED

Company type
Subsidiary of Absa Group Limited
Industry
Financial services
Founded
1927 ; 98 years ago ( 1927 )
Headquarters
Kampala , Uganda
Key people
George Opio Ag. Chair [ 1 ] Mumba Kalifungwa Managing Director and CEO [ 2 ]
Products
Loans, checking , savings, investments, debit cards
Revenue
Aftertax:UGX:146 billion (US$38.6 million) (2023) [ 3 ]
Number of employees
850+ (2014)
Website
www .absa .co .ug

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.

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Frequently Asked Questions

1. Why does ABSA BANK UGANDA LIMITED have different SWIFT Codes?

ABSA BANK UGANDA LIMITED operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process ABSA BANK UGANDA LIMITED's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of ABSA BANK UGANDA LIMITED to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of ABSA BANK UGANDA LIMITED, you can log on to the official website of ABSA BANK UGANDA LIMITED, or search the current page of XTransfer, or call ABSA BANK UGANDA LIMITED to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like ABSA BANK UGANDA LIMITED?

Usually, SWIFT Code consists of 8 or 11 characters. For ABSA BANK UGANDA LIMITED, the first 4 digits represent the bank code, which is the same for ABSA BANK UGANDA LIMITED worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for ABSA BANK UGANDA LIMITED be updated or changed?

Yes. When ABSA BANK UGANDA LIMITED undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where ABSA BANK UGANDA LIMITED is located, its SWIFT Code may be updated and changed. ABSA BANK UGANDA LIMITED will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of ABSA BANK UGANDA LIMITED in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of ABSA BANK UGANDA LIMITED support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of ABSA BANK UGANDA LIMITED supports the corresponding business.