City Tycoon and Banking Mogul Dr Sudhir Ruparelia, together with six (6) other stakeholders of the now-defunct Crane Bank are set to pocket billions after a major victory against DFCU Bank in an England court. The other appellants are; Jyotsna Ruparelia (Sudhir’s wife), Meera Ruparelia, Rajiv Ruparelia, Tom Mugenga and Sheena Ruparelia. The sixth appellant…
Bank of Uganda (BoU) is seeking to hire an independent audit firm that will carry out a comprehensive audit on the current state of affairs of the now-defunct Crane Bank, six years after the same commercial bank was closed. According to an advert published in one of the local newspapers, BoU said it is now…
Recently, the board of DFCU Bank Limited appointed Dr Winifred Mary Tarinyeba Kiryabwire as the Board Chairperson amidst the bank’s staggering status that has seen it losing millions of customers. Remember that Winifred’s appointment was after the bank releasing its 2021 results showing it had lost UGX313 billion or 12% of its customer deposits. Deposits,…
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 Bank 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 boosted its profitability in 2017 following the acquisition with net profit nearly tripling to Shs127 billion, up from…
Earlier this year, Dfcu Bank announced that its shareholders will have to wait longer before they think of getting dividends for the year 2021 as the bank struggles to preserve capital. According to the bank’s latest audited financial results published recently, the bank’s overall profitability for 2021, was considerably affected by the loan impairments, which…
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.…
Members of Uganda Bankers’ Association (UBA) a few days ago held their annual general meeting and elected Sarah Arapta, as the new Chair taking over from Dfcu Bank Chief Executive Officer Mathias Katamba who has served for two years (2020 & 2021). Ms. Arapta is the Chief Executive Officer of Citibank Uganda. Mr. Katamba in…
The Board of DFCU bank has suggested that no profits should be extended to the shareholders in the wake of enlisting a drop in profits of Shs11 billion last year. The banks General Manager George Ochom, said the board saw it wise not to dispense any dividends to shareholders so that it can keep the…
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…
