dfcu bank has resolved to close down 22 branches across the country.
The branches are located in buildings formerly owned by Meera Investments and Crane Management services, companies owned by City businessman Sudhir Ruparelia.
This was announced by the Managing Director, Mathias Katamba, on Wednesday.
“Dear esteemed customers, we are closing our 22 branches all over the country starting 14-10-2019,” reads the announcement
It adds: “All affected branches are already notified. We are sorry or the inconveniences caused.”
The bank is opening bids for companies that want to provide consultancy services during the relocation of its 22 branches in different regions.
According to a parliamentary probe, dfcu bank was misguided by lawyers Sebalu & Lule Advocates to transfer the titles of these properties when dfcu took over Crane bank.
Meera had leased 46 properties to Crane Bank on different terms and the leases were registered as encumbrances on Meera’s freehold and mailo interest.
Meera had also agreed with Crane Bank under various lease agreements that in case of any breach, non-performance, or non-observance of what they had agreed on in the lease agreements, it will be lawful for Meera to seek legal redress from court.
In 2017, Bank of Uganda announced that it had transferred all the assets and liabilities of the bank to dfcu Bank.