|Headquarters||38 Kampala Road, Kampala, Uganda|
P. K. Gupta
acting chief executive officer
|Products||Loans, savings, checking, investments, debit cards, credit cards, mortgages|
|Revenue||After tax: UGX:12.52 billion (2015)|
|Total assets||UGX:1.81 trillion (2015)|
The bank was a large financial services provider in Uganda. As of 31 December 2015, Crane Bank's assets were UGX:1.81 trillion, with shareholders' equity of UGX:281.43 billion. In October 2015, it had more than 750,000 customers.
Crane Bank started operations on 21 August 1995 "with a vision of being the largest privately owned Ugandan Bank."
In September 2012, Crane Bank acquired the assets and some of the liabilities of the National Bank of Commerce, a small, indigenous, financial services provider in Uganda that had lost its banking license.
On 27 January 2017, DFCU took over the bank, which had been under the statutory management of the BOU because the bank's liabilities exceeded its assets. The acquisition included all customer deposit accounts and loan accounts.
In September 2013, Ugandan print media reported that the bank's stock would be listed on the Uganda Securities Exchange in 2014. Those plans, however, were put on hold, with the bank explaining at the end of 2014 that it was focusing on its expansion plans first.
In September 2016, Ugandan print media indicated that the bank was actively searching for a strategic partner to acquire shares in the bank. In October 2016, the potential strategic partner was identified as Bob Diamond of the Atlas Mara Limited. Negotiations were still ongoing as of 11 October 2016. On 20 October 2016, the BOU took over the management of Crane Bank and started a sale process. The thirteen bidders included DFCU, Barclays Bank of Uganda, First National Bank of South Africa, Aethel Partners Limited of the United Kingdom, and General Equity, a New Zealand-based fund.
On 20 October 2016, the BOU took over the management of Crane Bank, suspending its board and acting CEO. This seizure was related to the bank's under-capitalization. Edward Katimbo Mugwanya was appointed statutory manager and reported directly to the governor of BOU.
In January 2017, DFCU acquired Crane Bank. DFCU Bank had offered to recapitalise Crane Bank with US$21.6 million after take-over and Aethel Partners Limited offered UGX:1 for the bank's assets and liabilities and also committed to invest US$215 million in Crane Bank to clean the balance sheet. Whereas DFCU Bank offered to clear all of Crane Bank's verified debts, Aethel Partners insisted it would clear only part of the failed lender's debts because of the severe corporate governance and financial risks tied to the bank. These factors boosted DFCU's bid.
As of October 2015, Crane Bank maintained a branch network in all four regions of the country. The branches of the bank included the following locations, arranged alphabetically:
- Abayita Ababiri Branch - Plot 688-893, Block 438, Entebbe Road, Abayita Ababiri
- Arua Branch - 1 Adumi Road, Arua
- Bugoloobi Branch - 71 Spring Road, Opposite Bugoloobi Market, Bugoloobi
- Busia Branch - Busia
- Entebbe Airport Branch - Entebbe International Airport
- Entebbe Branch - Entebbe Town
- Gulu Branch - 23 Gulu Avenue, Gulu
- Hoima Branch - 40 Main Street, Hoima
- Ibanda Branch - 44 & 46, Kamwengye Road, Ibanda
- Iganga Branch - 80 & 82 Main Street, Iganga
- Islamic University Branch - IUIU Main Campus, Mbale
- Jinja Branch - 40 Lubas Road, Jinja
- Jinja Road Branch - 1-13 Iconic Towers, Jinja Road, Kampala
- Kabalagala Branch - Ggaba Road, Kabalagala, Kampala
- Kabale Branch - 143-145 Kabale Road, Kabale
- Kampala Road Branch - Crane Chambers, 38 Kampala Road, Kampala Main Branch
- Kikuubo Branch - 18 Nakivubo Road, Kampala
- Kireka Branch - 106 Kampala–Jinja Highway, Kireka, Kira Municipality
- Kisekka Market Branch - Shops 1-4 & 29-31, Kisekka Market, Kyaggwe Road, Kampala
- Kisementi Branch - Kisementi Mall, Kololo, Kampala*
- Kisoro Branch - 65-75 Kisoro-Kabale Road, Kisoro
- Kyambogo Branch - Kampala-Jinja Highway, Kyambogo, Kampala
- Kyambogo University Branch - Main Campus, Kyambogo University, Kampala
- Kyengera Branch - Kampala-Masaka Highway, Kyengera
- Lira Branch - Lira Avenue, Lira
- Luwum Street Branch - 28 Eagle Plaza, Luwum Street, Nakasero, Kampala
- Luweero Branch - Plot 846, Block 652, Bulemeezi County, Luweero
- Lyantonde Branch - Plot 5, Block 76, Lyantonde
- Makerere University Branch - Senate Building, Makerere University Main Campus, Makerere
- Malaba Branch - 2-4 Tanga Road, Malaba
- Market Street Branch - 9 Market Street, Kampala
- Masaka Branch - 2 Broadway Road, Masaka
- Mbale Branch - 47 Republic Street, Mbale
- Mbarara Branch - 51 High Street, Mbarara
- Mukono Branch - 18-20A Kampala-Jinja Highway, Mukono
- Naalya Branch - Metroplex Shopping Mall, Kampala Northern Bypass Highway, Naalya
- Najjanankumbi Branch - Freedom City Mall, 1040 Entebbe Road, Najjanankumbi
- Nakivubo Road Branch - 40A Nakivubo Road, Kampala
- Ndeeba Branch - Plot 93, Block 7, Mengo Kibuga, Ndeeba
- Ntungamo Branch - 18 Old Kabale Road, Ntungamo
- Royal Plaza Branch - Royal Plaza, 35 Luwum Street, Kampala
- Rushere Branch - Plot 52-54, Block 68, Rushere
- Sixth Street Branch - 165 Sixth Street, Industrial Area, Kampala
- Soroti Branch - 4 Kennedy Square, Soroti
- Village Mall Branch - Village Mall Branch, Bugoloobi*
Key*: The Kisementi branch in Kololo and the Village Mall branch in Bugoloobi are open 24 hours a day.
- Crane Bank (29 April 2016). "Crane Bank Annual Report 2015" (PDF). Kampala: Crane Bank Limited. Retrieved 24 August 2016.
- Vision Reporter (20 August 2015). "Crane Bank at 20". New Vision. Kampala. Retrieved 22 April 2016.
- Bank of Uganda (31 March 2016). "Bank of Uganda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Retrieved 24 August 2016.
- Waiswa, Baz (15 October 2015). "Crane Bank: We Have Grown With Our Customers In Last Twenty Years". Kampala: News.ugo.co.ug. Retrieved 27 April 2016.
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- "Ruparelia Group Holdings". Ruparelia Group. Retrieved 26 April 2014.
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- The Independent, Reporters (1 September 2009). "Crane Bank opens branch In Kireka". The Independent (Uganda). Archived from the original on 27 January 2016. Retrieved 5 August 2015.
- Otage, Stephen (2 October 2015). "Crane Bank starts 24-hour banking". Daily Monitor. Kampala. Retrieved 14 October 2015.
- Nantaba, Eriosi (24 October 2011). "Crane Bank Relaunches Branch to Surpass Competition". East African Business Week via AllAfrica.com. Retrieved 5 August 2015.
- Ladu, Ismail Musa (14 November 2014). "Shs200billion Crane bank expansion drive takes shape with the opening of the 42nd branch along Masaka road". Daily Monitor (Kampala). Retrieved 5 August 2015.
- Businge, Julius (4 September 2013). "Uganda: Crane Bank Strengthens Base in City Centre". The Independent (Uganda) via AllAfrica.com. Retrieved 5 August 2015.
- Mugalu, Moses (7 December 2014). "Uganda: Crane Bank Opens 44th Branch". The Observer (Uganda) via AllAfrica.com. Retrieved 5 August 2015.
- Lyaazi, Moses (12 September 2012). "Crane Bank Opens New Branch In Makerere University". Makerere University School of Journalism. Archived from the original on 2 May 2014. Retrieved 1 May 2014.
- Aliga, Issa (23 August 2012). "Banks urged on agriculture financing". Daily Monitor. Retrieved 5 August 2015.
- Sanya, Samuel (10 February 2012). "Crane bank in sh3.5bn expansion drive". New Vision. Retrieved 5 August 2015.
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