Banking, Finance and Insurance
BOU places Crane Bank Ltd under liquidation
Bank of Uganda (BoU) in exercise of its powers under Section 99 (1) & (2) of the Financial Institutions Act, 200,4 has placed Crane Bank Ltd under liquidation and ordered the winding up of its affairs.
In a public notice issued on November 13, 2020, BoU will be the liquidator of CBL. “All borrowers of CBL, whose loans were transferred to DFCU Bank under the purchase of assets and assumption of liabilities agreement between CBL (In Receivership) and DFCU Bank Ltd, must continue to service their loan obligations with DFCU Bank Ltd,” said the notice.
For more informatin, please click on this link. Source: Bank of Uganda