Crane Bank Customer Deposits Safe. (Official)

The messages circulating on social media suggesting that customers of Crane Bank should withdraw their money in the bank’s possession before next week are false according to a senior official at the commercial bank which started operating in Uganda in 1995.
The bank has in the recent time been targeted by malicious people on social media whose motives have been to mislead their customers and discredit the financially stable financial institution, the latest being the alarming messages doing rounds on WhatsApp, Twitter and Facebook.
But when contacted, the bank which boosts of capitalization of about Shs1.3trillion, said customer deposits are safe and there is no reason to panic. The bank said these are baseless rumors intended to misguide their customers.
“Our customers in the 46 branches spread across the country should stand firm. We are not closing or anything like that. Their money is safe as it has been the case for the last 21 years,” a bank’s official said asking not to be named. He is not the official person to make official statements.
Bank of Uganda also watered down the fears created by the malicious message, which stem from the bank’s attempt to sell shares to a new partner. “The shareholders of commercial banks have the option of selling shares to new investors as they deem appropriate.” Bank of Uganda said in a statement released by the central bank which regulates commercial banks.
Actually, in Uganda, if there is any bank likely to exit the banking sector in the country, it is Barclays Bank which closed its doors on the African market. However it has not received any attacks as the Ugandan Crane Bank.
Crane Bank, founded in the year 1995, now in its 21st year of operations has grown to become one of Uganda’s largest locally owned Ugandan commercial banks; the 4th largest in terms of assets and 5th in terms of deposits.
Crane Bank has provided financial services to corporate and retail sectors in Uganda for a number of years, largely focusing on Micro, Small & Medium enterprises (SMEs). In all these years, it has been recognized with numerous awards for service delivery excellence. They are also operating in Rwanda.

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