DFCU sells Crane Bank Rwanda

By Mark Keith Muhumuza

Dfcu Bank has shed the Crane Bank Rwanda assets and liabilities off its books, choosing to focus on the Ugandan market.

The development is confirmed in a statement issued by Commercial Bank of Africa Group Managing Director Isaac Awuondo.

He says CBA has signed a definitive Sale and Purchase Agreement to acquire 100 percent of Crane Bank Rwanda from dfcu Bank Limited.

In January 2017, dfcu Bank acquired liabilities and assets of Crane Bank from Bank of Uganda for an undisclosed fee.

The acquisition included the Crane Bank Rwanda.

CBA has operations in Rwanda, Kenya, Uganda, and Tanzania, and has a customer base of 27 million in East Africa.