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DFCU takes over Crane Bank

Mulema Najib by Mulema Najib
7 years ago
in News
1 0

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By Watchdog reporter

Bank of Uganda has conveyed all liabilities including deposits of Crane Bank to DFCU Bank.

According to the Governor, Prof Emmanuel Tumusiime Mutebile, ALL customers and depositors of Crane Bank shall have their accounts operated by DFCU Bank.

Mutebile says thirteen institutions wanted to take over Crane Bank, but DFCU emerged the best.

In October, 2016, BOU took over the management of Crane Bank upon the determination by the Central Bank that Crane Bank Limited was under-capitalized and hence poses a risk to the entire banking sector.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com

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