DFCU Bank Takes Over Crane Bank Uganda

January 27, 2017


Bank of Uganda governor, Emmanuel Tumusiime Mutebile has confirmed the official take over of Crane bank by DFCU bank

The governor told a news conference this morning that all customers and depositors of Crane bank shall now have their accounts operated by DFCU bank through its wide branch network.

Mutebile said, that after thorough vetting, Dfcu emerged the winners among the 13 institutions that bid for Crane bank.

“In exercise of its powers as receiver, under section 95 (1) (b) of Financial and other Institutions Act, Bank of Uganda has now transferred the liabilities including deposits of Crane bank to DFCU bank.”

“Bank of Uganda reassures the public that it will continue to protect depositors’ interests and maintain the stability of the financial sector,” the governor said.

Bank of Uganda on September 20, 2016 took over the management of Crane bank and issued a notice to the public setting out the reasons for the takeover. Source: KFM