Crane Bank Reverts to Tycoon Sudhir Ruparelia

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Crane Bank Reverts to Tycoon Sudhir Ruparelia Top story

11 Feb 2022, 11:06 Comments 1501 Views Business and finance Breaking news

Edward Bindhe & Ezekiel Ssekweyama

Crane Bank Masaka branch on the disputed Masaka town hall land

In short
Crane Bank Limited was closed by the Bank of Uganda on October 20, 2016, after it failed to comply with a capital call on July 1, 2016. Back then, Central Bank Governor Emmanuel Tumusiime Mutebile said that the Bank takeover was guided by the systemic nature of the undercapitalized institution to avoid financial sector instability.

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