Crane Bank: Services in All Our 46 Branches Going on Normally

Crane Bank limited has broken the silence on the recent rumors about its closure and news of the Bank seeking to sell shares to potential investors, unhealthy an issue that has caused unrest among the Bank’s customers.

The issue was escalated by social media messages, pharm especially on Whatsapp which alleged that an insider in the Central Bank of Uganda (BoU) had warned Crane Bank Customers to withdraw their money in a week’s time, a statement which BoU disowned.

“It has been brought to our attention that messages have been circulating on whatsapp instructing depositors to withdraw their money from Crane Bank within the next week. We wish to categorically state that these messages were not issued by the Bank of Uganda,” Christine Alupo, Bank of Uganda’s Director Communications said in a statement released on October 13th.

Following the bank statement, several images of people lining up in front of Crane Bank, started making rounds on social media, with claims that those were people lining up to withdraw their money as advised by the “Bank of Uganda Insider.”

In a statement released Monday October 17th, Crane Bank Management discarded the claims as untrue, saying that the pictures were taken during the official launch of Crane Bank’s Ntinda Branch.

“This is not true as services across all our 46 branches in Uganda are going on normally.  A close look at the image will show balloons and other decorative materials at the entrance that were used for the opening ceremony,” the statement from Crane Bank Management reads in part.

The management condemned all individuals involved in the circulation of the messages and pictures, urging the public to refrain from forwarding them to other groups.

“The board and management of Crane Bank wish to strongly condemn the individuals behind the fabrication and circulation of these malicious messages. In the same sense, we urge all responsible members of the public to desist from sending or forwarding such damaging information as it is baseless,” the statement further read.


The statement further clarifies that the decision to bring in a strategic partner is aimed at taking crane Bank to another level although the investor process requires non-disclosure.

“A strategic investor was identified and engaged. The investor process is structured, requires patience and is based on non-disclosure. Each necessary step, including notification and seeking investor Clearance of the Bank of Uganda which comes at a very advanced stage has its time.”

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