While Uganda’s banking sector recorded strong financial results for 2021, the Development Finance Company of Uganda (DFCU) Bank continues to reel from its acquisition of Crane Bank in 2017 and the fallout from the Covid-19 pandemic. The third-largest domestic bank in Uganda in terms of assets recorded a 46% drop in profit to USh9.3bn ($2.6m)…
When Dfcu controversially bought Crane Bank Limited (CBL) in January 2017, it immediately became one of the most profitable banks in Uganda as the former owners of CBL cried for the loss of their bank. Dfcu’s Crane bank acquisition boosted its profitability in 2017 with net profit nearly tripling to Shs127 billion, up from Shs46.…
DFCU bank has announced that shareholders of former Crane Bank Limited have filed a claim in the English High Court over its takeover of some assets and liabilities of the bank in 2017. This website understands that DFCU Bank is a subsidiary of DFCU Limited. Arise BV, and the majority shareholder in DFCU Limited is…
