Crane Bank NOT for Sale!

By Frank Twinomugisha (DailyNewsUg)

Contrary to a recent sensational headline and report by a local Tabloid and some Social Media gossip, the Management of Crane Bank has quashed and made a Press statement clearing the air about the impending sale of Crane Bank and attributing those reports as being false, misguiding and meant to tarnish the good and solid image of the strong Bank.

In a statement issued on Thursday evening, Crane Bank Board Chairman Mr. Joseph Biribonwa noted that over years, Crane Bank, an indigenous bank has grown in all respects with deposits, branch networks and market shares expanding to great lengths across the country.

Crane Bank that has been in operation for the last 21 years currently has over 46 branches spread across the country with over 100 ATMs nationswide, Mr. Biribonwa added.

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Customers transacting at the convenient and easily accessible Crane Bank Ntinda Trading Centre

“Crane Bank is a strong and sound financial institution that has been serving for the last 21 years. The bank would like to assure all its customers and the general public that Crane Bank will continue to serve its customers, partners and the general public with the highest level of standards.”

The Crane Bank Board Chairman asserted that five (5) years ago the shareholders and the Board decided to diversify with offer of Initial Public Offer (IPO) that he described as ‘premature’. “This was a thought process as the branches spread and expansions took root,” Mr. Biribonwa explained.

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Click to read press release

He assured Crane Bank Customers that two years ago, Crane Bank Shareholders and the Board decided to get a strategy equity investor with regional and continental network to spur the banks’ growth. “This strategy is in sync with the inevitable trend of mergers and acquisitions, not just as an important forum of growth for the purposes of the East African integration, but as a strategy move at global level too,” Mr. Biribonwa clarified.

Mr. Biribonywa advised that Strategic Equity investor approach is aimed at strengthening the Bank’s balance sheet further, so as to take the bank to the next level with enhanced products and services.

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Crane Bank Ishaka Branch serving Customers

“We would like to reassure our customers and public that the business operations and services of Crane Bank continues as normal. We thank our esteemed customers, partners and general public for their continued confidence and continued support,’ said Mr. Biribonwa.

Crane Bank Kabale Branch & another Up-country branch serving Ugandans deep in the villages
Another strategic Crane Bank Branch Up-country branch serving Ugandans deep in the villages
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