This inventory found that Crane Bank was massively insolvent, with core capital of negative Shs240 billion, as a result of mismanagement and fraud.

What was the fate of Crane Bank in Rwanda?

In October 2016, the Bank of Uganda took over the administration of Crane Bank and its subsidiaries, due to under-capitalization. In January 2017, DFCU Bank purchased the assets and liabilities of Crane Bank. Crane Bank Rwanda was sold to the Commercial Bank of Africa Group in February 2018.

What happened Crane Bank?

Crane Bank was acquired by DFCU Bank in January 2017 at a cost of Ush200 billion ($52.8 million) on grounds that it was undercapitalized as declared by the regulator Bank of Uganda.