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.
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