October 21, 2017

DFCU, Crane Bank Rwanda shareholders hold key meeting

KIGALI, April 13 -Eyes are on Rwanda’s central banker BNR to announce the final resolution of Crane Bank Rwanda after a key meeting between shareholders, DFCU, Commercial Bank of Africa and the regulator.

Industry sources report that the meeting for the better part of Wednesday in the upmarket Nyaruratarama suburb of Kigali was among the last preparatory steps towards the resolution of the status of the Rwandan subsidiary of collapsed lender Crane Bank.

Just like officials at BNR who refused to comment, a senior figure at Crane Bank Rwanda could not divulge details of the meeting beyond asking, “What if you find the bank is branded as DFCU on Monday?”

The meeting however left employees of the subsidiary rattled as they pondered an uncertain future. Besides being unsure over their new employer, it remains doubtful many will retain jobs after the two-branch unit is integrated into either CBA or the Bank of Kigali’s operations.

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