Crane Bank
Bank of Uganda governor says bank closures were well-intentioned
Governor tells Parliament probe Bank was right to intervene in closed banks but acknowledges post-intervention challenges
Central Bank had to take over Crane Bank – Governor Mutebile
The intervention in Crane Bank, was the most difficult of these interventions and the one which was potentially the most problematic, because it was a large bank of systemic importance, and because of the huge magnitude of the losses it had incurred
Crane Bank was bankrupt when taken over by BoU: Kasekende
Bank of Uganda's deputy governor Lois Kasekende says the successful resolution of Crane Bank in January 2017 is the main reason for the improvement in financial soundness indicators of the banking system last year
Central Bank governor responds to criticism of BoU management
Bank of Uganda's governor says claims that the Bank or its management are guilty of incompetence and are no longer up to the task of executing its constitutional mandate are not supported by evidence and should be treated with contempt
Bank of Uganda announces staff changes as Bagyenda retires
Bank of Uganda has announced several appointments to its top management team and transfers, including a new executive director of supervision
2017 was a year of consolidation in the banking sector – Kasekende
Many of the problems facing the banking industry today can be more effectively solved if banks cooperate to pool resources and realise economies of scale and thereby reduce costs
Dfcu’s Shs200bn rights issue 95.21% subscribed
Dfcu Limited, the holding company of Dfcu Bank, raised Shs190.6bn in a rights offering to settle a shareholder loan
Dfcu to raise Shs200bn in rights issue
Dfcu Limited, the holding company of dfcu Bank, announced Monday that it expects to raise Shs200 billion by selling new shares in a rights issue to settle a shareholder loan
Dfcu gets profit boost from Crane Bank acquisition
The first financials released by Dfcu Bank since its acquisition of Crane Bank this January show a rapid rise in the bank's profits and asset baseMore Crane Bank
Governor defends central bank on Crane Bank supervision
Tumusiime-Mutebile says much of the commentary on Crane Bank in the media and on social media betrays a profound misunderstanding of how bank supervision works and what can realistically be achieved by a bank regulator
Crane Bank Rwanda to be sold to CBA — report
Crane Bank Rwanda is to be acquired by the Commercial Bank of Africa, according to a report by Rwanda's New Times newspaper.
Dfcu ends lay-offs, to offer contracts to former Crane Bank employees
Dfcu Bank will offer new contracts to former Crane Bank employees left over from the integration of the two lenders, a memo sent to staff on Monday said. The new contracts will become effective on 1 April.
South Africa-based fund Arise lends $50 million to dfcu
Arise, an investment company based in Cape Town, is lending $50 million to dfcu Bank to help cover short-term capitalisation of the lender, weeks after it purchased the insolvent Crane Bank.
DFCU takes over Crane Bank
DFCU Bank has taken over Crane Bank, Bank of Uganda revealed today - three months after the troubled lender was placed under statutory management by the central bank.
BoU sees tough times ahead for banks, but confident on stability
The central bank is counting on tougher capital demands to mitigate potential risks to the financial system, following a stormy year for the banking sector during which the regulator took over management of one of the largest lenders.
Banks to face tougher capital demands as regulator calls for stricter lending standards
Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
IMF urges curb on government spending, praises BoU policy
Bank of Uganda's tight monetary policy has been successful in bringing down inflation to within target, the International Monetary Fund said on Tuesday. But it also raised concerns about high government spending and lower tax collections.
Atlas Mara, Crane Bank’s reported suitor, releases Q3 results; silent on bid
Atlas Mara, the financial services group that has been named as one of the possible buyers of Crane Bank, released unaudited 3rd quarter financial statements showing a 77.5% year-on-year drop in after tax profit for the nine months ended 30 September.
Financial sector is stable, Bank of Uganda says
The Central Bank released a statement on Monday disputing social media rumours on the state of the financial sector. Signed by the bank's director of communications, the statement says "the financial sector as a whole is stable, sound and resilient."
