Tag Archives: Crane Bank

How BoU is overseeing the biggest asset grab ever Kampala, Uganda | HAGGAI MATSIKO | On July 3, Crane Bank which is under receivership by Bank of Uganda (BoU) sued its former owner, Sudhir Ruparelia, and a company called Meera Investments Ltd also owned by Sudhir in what might turn …

Three months after Bank of Uganda (BOU) transferred the assets of Crane Bank to DFCU Bank, one of its key units Crane Forex Bureau has been struck of the list of registered currency operators. Others off the list, which means their Licenses have expired, are Karibu and Redfox. BOU transferred the …

Dfcu’s new take-over will help expand its footprint countrywide When Bank of Uganda Governor Emmanuel Tumusiime-Mutebile announced that they were transferring liabilities and assets of Crane Bank to the Development Finance Company of Uganda (Dfcu), many wondered how that was possible. Crane Bank, set up in 1995, has been the …

Bank of Uganda has confirmed that it has transferred the assets of Crane Bank to DFCU Bank. “In exercise of its powers as Receiver, under Sec 95(1)(b) of FIA, BoU has now transferred the liabilities (incl deposits) of CB to DFCU Bank,” Bank Governor Emmanuel Tumusiime-Mutebile told the press in …

BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …

JANUARY: WHEN MUSEVENI MARKED 30 YEARS IN POWER Jan.1: Police stakes Shs 20m on Aine’s head The year started with the campaigns for the 2016 Presidential and Parliamentary elections in full-gear. The head of security for one of the candidates, former Prime Minister, Amama Mbabazi, had gone missing. Christopher Aine …

Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …

Bank of Uganda has moved to assure customers that Crane Bank will not collapse in spite of its current challenges. BoU took over the management of Crane Bank on Oct 20 citing under-capitalization. Speaking during the Annual Bankers Dinner in Kampala, BoU Governor Emmanuel Tumusiime-Mutebile (Pictured) said that it was …

With the Crane Bank being placed under Central Bank management and several other commercial banks being asked to recapitalise, the banking sector in Uganda seems to be under a lot of stress lately. What seems to have brought down Crane Bank does not seem to be a Crane Bank problem …

THE LAST WORD: By Andrew M. Mwenda Lesson for Central Bank from the experience of the takeover of Crane Bank This week, the government injected Shs 200 billion into Crane Bank to bolster its liquidity position. This is only 40% of the Shs 500 billion needed to bring the bank …