Finance Minister Matia Kasaija has said that the government is in negotiations with three investors to capitalize the troubled Crane Bank.
“We so far have three suitors who are talking with us to invest in the bank. I won’t reveal the details because we want to keep it on low key for now. But if they manage to capitalize it, Bank of Uganda will then withdraw from the management with its new ownership,” said Matia Kasaija.
He also revealed that the bank won’t collapse and customers should not worry about their deposits
“Many people are speculating about Crane Bank closing but we are going to run it and it will survive.
“Clients should be assured that no branch will be closed and transactions will remain normal.
“There’s no need to panic. We have already started to get people who want to invest money in Crane Bank.”
Crane Bank was recently put under receivership by the Bank of Uganda because of less capital reserve.
Crane Bank is the third largest bank in the country with 46 branches. It had as well expanded its operations to Rwanda where government assured of its capital strength and efficiency.