BOU Press Statement | Bank of Uganda Addresses Crane Bank WhatsApp Rumors!

Bank of Uganda Press Statement on Crane Bank — Messages circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank were not issued by BoU.

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 Bank of Uganda.

The shareholders of commercial banks have the option of selling shares to new investors as they deem appropriate. However, any new investor in a commercial bank must satisfy the regulator that they are fit and proper. The BoU does not comment on any negotiations to sell shares in a bank while these negotiations are ongoing.

BoU monitors closely all commercial banks in Uganda and any actions which it takes are motivated primarily by the objective of protecting the best interests of banks’ depositors.

Christine Alupo, Director Communication

Source — Bank of Uganda website.