Crane Bank assets have crossed the Ushs1 trillion mark, making Crane Bank and Centenary Bank, the only two local banks with over Ushs1 trillion in assets. This milestone was revealed by Mr AR Kalan, the bank’s Managing Director, during the occasion to officially launch the all new Crane Bank branch in Jinja Municipality. The new branch is housed in an ultra modern custom designed complex, akin to other Crane bank branches and replaces the bank’s old Branch formerly located on Lubas road.
The new US$ 3 million complex is now located on the High Street. There are only a total of 5 commercial banks with assets in excess of Ushs1 trillion. The other three are Standard Chartered Bank, Stanbic and Barclays all of which are not locally owned. Addressing a mammoth gathering at the opening of the branch a visibly excited Kalan said that the opening of the new branch fits within the bank’s ongoing expansion plan that will see the bank open 50 branches by 2015.
He also said that the bank’s reserves had hit Ushs300 billion, making the bank one of the most capitalized in the industry which strength would be used to finance the bank’s ongoing expansion and product development. “We believe in taking services closer to the people,
