The governor Bank of Uganda has today educated the customers and depositors of Crane bank about the new name of their bank.
The new name for Crane Bank is DFCU bank, can you repeat after me?! You got it right, DFCU Bank it is! This is after Crane Bank acquired the Crane Bank.
In exercise of its powers as receiver, under Sec 95(1)(b) of FIA, Bank of Uganda has transferred the liabilities (including deposits) of Crane to DFCU Bank.
Bank of Uganda Governor Emmanuel Mutebile said on Friday the central bank has also conveyed Crane Bank’s assets 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.