Crane Bank

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Crane Bank
Private
Industry Financial Services
Founded 1995
Headquarters 38 Kampala Road, Kampala, Uganda
Key people
Joseph Biribonwa
Chairman
R. K. Gupta
Managing Director
Ajay Kumar
Deputy Managing Director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax: US$18.7 million (UGX:47.2 billion) (2013)
Total assets US$575.3 million (UGX:1.45 trillion) (2013)
Number of employees
500+ (2012)
Website Homepage

Crane Bank is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.[1]

Overview[edit]

The bank is a large financial services provider in Uganda. It is involved in all aspects of commercial banking with a focus on the provision of banking services to foreign embassies and non-governmental organizations and their staffs. As of December 2013, Crane Bank was the 4th largest commercial bank in Uganda, with an asset valuation of approximately US$575.3 million (UGX:1.45 trillion), and shareholders' equity in excess of US$114.2 million (UGX:288.2 billion).[2] The bank is the largest indigenous Ugandan commercial bank. In October 2013, its customer base was estimated at about 600,000.[3][4]

History[edit]

Crane Bank started operations in 1995 after receiving a commercial bank license from the Bank of Uganda. The bank is a member of the Ruparelia Group which includes financial institutions, insurance companies, real estate investments, horticultural enterprises, hotels and resorts.[5]

In September 2012, Crane Bank acquired the assets and some of the liabilities of National Bank of Commerce (Uganda), a small indigenous financial services provider that lost its banking license.[6]

As of October 2013, Crane Bank was pursuing expansion plans into Rwanda, where a new subsidiary is expected to come on-line in 2014.[7][8] Plans are also underway to expand to the Democratic Republic of the Congo and South Sudan.[9]

Ownership[edit]

The exact percentage share ownership of Crane Bank is not publicly known. The bank is a member of the Ruparelia Group. The group includes a bank, insurance companies, foreign exchange bureaux, schools, radio stations, hotels and resorts. In September 2013, Ugandan print media reported that the bank's stock will be listed on the Uganda Securities Exchange (USE), in 2014.[10] However, those plans were put on hold, as of February 2015.[11]

Governance[edit]

Crane Bank is governed by a ten person Board of Directors. Joseph Biribonwa, one of the non-Executive Directors is the Chairman of the Board. Sudhir Ruparelia, the largest shareholder, serves as the Deputy Chairman. The Managing Director and CEO is R. K. Gupta. The Deputy Managing Director is Ajay Kumar; he is assisted by ten other managers including R. K. Gupta, in the supervision of the daily operations of the Bank.

Branch Network[edit]

As of December 2014, Crane Bank maintains a branch network in all four regions of the country. The branches of the bank include the following locations, arranged alphabetically:[12]

  1. Abayita Ababiri Branch - Plot 688-893, Block 438, Entebbe Road, Abayita Ababiri
  2. Arua Branch - 1 Adumi Road, Arua
  3. Bugoloobi Branch - 71 Spring Road, Opposite Bugoloobi Market, Bugoloobi[13]
  4. Busia Branch - Busia
  5. Entebbe Airport Branch - Entebbe International Airport[14]
  6. Entebbe Branch - Entebbe Town
  7. Gulu Branch - 23 Gulu Avenue, Gulu
  8. Hoima Branch - 40 Main Street, Hoima[15]
  9. Ibanda Branch - 44 & 46, Kamwengye Road, Ibanda[16]
  10. Iganga Branch - 80 & 82 Main Street, Iganga
  11. Islamic University Branch - IUIU Main Campus, Mbale
  12. Jinja Branch - 40 Lubas Road, Jinja
  13. Jinja Road Branch - 1-13 Iconic Towers, Jinja Road, Kampala
  14. Kabalagala Branch - Ggaba Road, Kabalagala, Kampala
  15. Kabale Branch - 143-145 Kabale Road, Kabale
  16. Kampala Road Branch - Crane Chambers, 38 Kampala Road, Kampala Main Branch
  17. Kikuubo Branch - 18 Nakivubo Road, Kampala
  18. Kireka Branch - 106 Kampala-Jinja Highway, Kireka, Kira Municipality[17]
  19. Kisekka Market Branch - Shops 1-4 & 29-31, Kisekka Market, Kyaggwe Road, Kampala
  20. Kisoro Branch - 65-75 Kisoro-Kabale Road, Kisoro
  21. Kyambogo Branch - Kampala-Jinja Highway, Kyambogo, Kampala[18]
  22. Kyambogo University Branch - Main Campus, Kyambogo University, Kampala
  23. Kyengera Branch - Kampala-Masaka Highway, Kyengera[19]
  24. Lira Branch - Lira Avenue, Lira
  25. Luwum Street Branch - 28 Eagle Plaza, Luwum Street, Nakasero, Kampala[20]
  26. Luweero Branch - Plot 846, Block 652, Bulemeezi County, Luweero[21]
  27. Lyantonde Branch - Plot 5, Block 76, Lyantonde
  28. Makerere University Branch - Senate Building, Makerere University Main Campus, Makerere[22]
  29. Malaba Branch - 2-4 Tanga Road, Malaba
  30. Market Street Branch - 9 Market Street, Kampala
  31. Masaka Branch - 2 Broadway Road, Masaka[23]
  32. Mbale Branch - 47 Republic Street, Mbale
  33. Mbarara Branch - 51 High Street, Mbarara
  34. Mukono Branch - 18-20A Kampala-Jinja Highway, Mukono[24]
  35. Naalya Branch - Metroplex Shopping Mall, Kampala Northern Bypass Highway, Naalya[25]
  36. Najjanankumbi Branch - Freedom City Mall, 1040 Entebbe Road, Najjanankumbi
  37. Nakivubo Road Branch - 40A Nakivubo Road, Kampala
  38. Ndeeba Branch - Plot 93, Block 7, Mengo Kibuga, Ndeeba
  39. Ntungamo Branch - 18 Old Kabale Road, Ntungamo
  40. Royal Plaza Branch - Royal Plaza, 35 Luwum Street, Kampala
  41. Rushere Branch - Plot 52-54, Block 68, Rushere
  42. Sixth Street Branch - 165 Sixth Street, Industrial Area, Kampala
  43. Soroti Branch - 4 Kennedy Square, Soroti

See also[edit]

References[edit]

  1. ^ "List of Licensed Commercial Banks In Uganda" (PDF). Bank of Uganda. Retrieved 26 April 2014. 
  2. ^ Crane Bank, . "2013 Annual Financial Report". Crane Bank Limited. Retrieved 4 June 2014. 
  3. ^ Nyanzi, Peter (10 May 2013). "Growing To Serve". The Independent (Uganda). Retrieved 26 April 2014. 
  4. ^ Muneza, Stephen (24 October 2013). "MTN Uganda In Partnership With Crane Bank Launch Mobile Money ATM Cash Out Service". Red Pepper Newspaper. Retrieved 26 April 2014. 
  5. ^ "Ruparelia Group Holdings". Ruparelia Group. Retrieved 26 April 2014. 
  6. ^ Businge, Julius (27 September 2012). "BOU Revokes National Bank of Commerce License". The Independent (Uganda). Retrieved 26 April 2014. 
  7. ^ Barigaba, Julius (29 June 2013). "African Banks Take Over Market Share From Foreign Transnationals". The EastAfrican. Retrieved 26 April 2014. 
  8. ^ By, Editor 4 (26 July 2013). "Crane Bank To Extend Operations In Rwanda". Summit Business Review via ZoomAfrique.com. Retrieved 26 April 2014. 
  9. ^ Businge, Julius (5 May 2012). "Avalanche of Banks". The Independent (Uganda). Retrieved 26 April 2014. 
  10. ^ Olanyo, Joseph (17 September 2013). "Crane Bank To Sell Shares". The Observer (Uganda). Retrieved 26 April 2014. 
  11. ^ Oketch, Martin Luther (17 February 2015). "They Promised To Sell Shares, What Happened?". Daily Monitor (Kampala). Retrieved 17 February 2015. 
  12. ^ "Branches of Crane Bank As of December 2014". Crane Bank. Retrieved 10 December 2014. 
  13. ^ Mugalu, Moses (15 December 2013). "Crane Bank Opens Bugolobi Branch". The Observer (Uganda) via AllAfrica.com. Retrieved 26 April 2014. 
  14. ^ Olanyo, Joseph (21 May 2013). "Uganda: Crane Bank Opens 28th Branch". The Observer (Uganda) via AllAfrica.com. Retrieved 26 April 2014. 
  15. ^ Mugerwa, Francis (22 September 2012). "Crane Bank Expansion On Course". Daily Monitor. Retrieved 26 April 2014. 
  16. ^ Musa Ladu, Ismail (16 January 2014). "Crane Bank To List On Uganda Securities Exchange In April". Daily Monitor. Retrieved 26 April 2014. 
  17. ^ The Independent, Reporters (1 September 2009). "Crane Bank Opens Branch In Kireka)". The Independent (Uganda). Retrieved 26 April 2014. 
  18. ^ Nantaba, Eriosi (24 October 2011). "Crane Bank Relaunches Branch to Surpass Competition". East African Business Week via AllAfrica.com. Retrieved 26 April 2014. 
  19. ^ Ladu, Ismail Musa (14 November 2014). "Crane Bank Invests Shs825 Billion In Expansion". Daily Monitor (Kampala). Retrieved 14 November 2014. 
  20. ^ Businge, Julius (4 September 2013). "Crane Bank Strengthens Base In City Centre". The Independent (Uganda) via AllAfrica.com. Retrieved 26 April 2014. 
  21. ^ Mugalu, Moses (7 December 2014). "Uganda: Crane Bank Opens 44th Branch". The Observer (Uganda) via AllAfrica.com. Retrieved 10 December 2014. 
  22. ^ Lyaazi, Moses (12 September 2012). "Crane Bank Opens New Brank In Makerere University". Makerere University School of Journalism. Retrieved 1 May 2014. 
  23. ^ Aliga, Issa (23 August 2012). "Banks Urged On Agriculture Financing". Daily Monitor. Retrieved 26 April 2013. 
  24. ^ Sanya, Samuel (10 February 2012). "Crane Bank In Sh3.5 Billion Expansion Drive". New Vision. Retrieved 26 April 2014. 
  25. ^ Jaramogi, Patrick (24 July 2012). "Crane Opens Naalya Branch As Competition In Banks Shoots Up". New Vision. Retrieved 26 April 2014. 

External links[edit]