BoU suffocated our growth – Crane Bank boss

By Moses Kyeyune.

The management of Crane Bank Ltd has accused the Central Bank for undermining its growth that had been registered in a period of 20 years.

Crane bank was placed under receivership in 2016 by the Bank of Uganda after failing to meet liquidity requirements.

While appearing before the House Committee on Commissions, Statutory Authorities and State Enterprises this morning, Joseph Biribonwa, the former chairman of the defunct bank cited several achievements registered by the bank since its incorporation in 1995 among them, the robust support of Small and Medium Enterprises.

He says that the actions by the Bank of Uganda to close Crane bank was ill intended and a malicious move.

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