Friday July 26 2013

Crane Bank to extend operations to Rwanda

By Stephen Otage & Stephen Wandera

In a bid to go regional, Crane Bank has secured a licence from the National Bank of Rwanda to start operations in the country, making it the first indigenous Ugandan bank to venture outside Uganda.

The bank is venturing into a market already dominated by Barclays, Equity, Baroda, Fina, and Kenya Commercial Bank, among others.

Crane Bank managing director A.R. Kalan, says the bank secured the license last month and it hopes to start operations by the first quarter of 2014.

“We are currently setting up the infrastructure before we start operations. The fact that we are building our own infrastructure like buildings there, means that we are making a permanent presence there and we are taking good quality service to Rwanda,” he said.

Crane Bank is the largest locally-owned commercial bank in Uganda.