• Home
  • About
  • Join Us
  • Contact
93.3 KFM
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
Subscribe
No Result
View All Result
93.3 KFM
No Result
View All Result
Home Business

Bank of Uganda Takes Over Crane Bank Management

David Kugonza by David Kugonza
October 20, 2016
in Business, News
0
Bank of Uganda Takes Over Crane Bank Management
108
VIEWS
Share on WhatsAppShare on FacebookShare on Twitter

The Bank of Uganda has with effect from today, 20th October 2016, taken over management of Crane Bank Limited

This is in exercise of its powers under section 87 (3) of the Financial Institutions Act 2004.

Related articles

DR Congo Nobel Peace Prize winner Mukwege declares presidential bid

NEED opposes land commission boss’ proposal

According to a notice issued by the governor Tumusiime Mutebile, the action has been taken on grounds that the bank is significantly undercapitalized as defined by law.

The notice also indicates that Crane Bank’s financial health poses systemic risk to the stability of the entire financial system.

It adds that the continuation of the activities of Crane Bank in its current form is detrimental to the interests of its depositors

Accordingly, the Central Bank has appointed a statutory manager to the affairs of Crane Bank limited and suspended its board of directors.

The governor also says they are to conduct audit on Crane Bank to determine whether the high NPLs & Bad Debts contributed to the capital erosion.

Bank of Uganda however assures the public that Crane Bank will remain open and its operations will continue.

Story By Moses Ndhaye

David Kugonza

David Kugonza

Related Posts

DR Congo Nobel Peace Prize winner Mukwege declares presidential bid

DR Congo Nobel Peace Prize winner Mukwege declares presidential bid

by admin
October 2, 2023
0

By AFP DR Congo's Denis Mukwege, a surgical gynaecologist who won the 2018 Nobel Prize, announced a presidential bid Monday ahead of elections in the central...

NEED opposes land commission boss’ proposal

NEED opposes land commission boss’ proposal

by Prossy Kisakye
October 2, 2023
0

The National Economic Empowerment Dialogue (NEED) party, has opposed the proposal by the Uganda Land Commission Acting Chairperson who advised government to take over land ownership...

Concerted effort needed to address escalating housing shortage – Minister 

Concerted effort needed to address escalating housing shortage – Minister 

by Mike Sebalu
October 2, 2023
0

As the country marks World Habitat Day today, the Ministry of Lands and Urban Development is urging all stakeholders to address the challenges hindering access to...

Lukwago calls NEC meeting to discuss FDC polls

FDC faction sets date for delegates’ conference

by Mike Sebalu
October 2, 2023
0

The Forum for Democratic Change (FDC) Katonga faction has announced its delegate’s conference set to be held on March 15, 2024. This will be in fulfillment...

One arrested over viral TikTok torture video

Woman arrested for ‘borrowing’ baby to hoodwink husband

by Abubaker Kirunda
October 2, 2023
0

A 35-year-old woman in Buikwe district has been arrested by authorities for allegedly borrowing a baby from a friend to lie to her husband that she...

Next Post
Nakawa MP Kabaziguruka Returns To Court

Nakawa MP Micheal Kabaziguruka Out On Bail

Police Vows to Block Mbabazi

8 Senior Police Officers Suspended Over Incompetence

Hundreds killed in South Sudan

"Ambushed" South Sudanese Fights For Life

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News
DR Congo Nobel Peace Prize winner Mukwege declares presidential bid

DR Congo Nobel Peace Prize winner Mukwege declares presidential bid

October 2, 2023
NEED opposes land commission boss’ proposal

NEED opposes land commission boss’ proposal

October 2, 2023
Concerted effort needed to address escalating housing shortage – Minister 

Concerted effort needed to address escalating housing shortage – Minister 

October 2, 2023
93.3 KFM

Kampala's #NumberOne radio station for better information and the best music ! KFM is a subsidiary of Nation Media Group;
@NationMediaGrp

© 2022

No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters

© 2022