October 19, 2017

DFCU set to book loss on Crane Bank Rwanda sale

KIGALI, APRIL 07- DFCU Bank is likely to book a loss on the sale of Crane Bank’s Rwandan unit as bidder interest wanes.

256BN has learned that it is now a buyers’ market after Bank of Kigali Bk was left as the only bidder still keen to close a deal. The other contender, Commercial Bank of Africa CBA which had conducted due diligence on the lender is reported to have lost interest.

Sources add that regulator BNR has now zeroed transferring Crane Bank Rwanda’s assets and liabilities to Bk as one way of providing continuity for a new but heavily leveraged borrowers from Crane Bank.

Related posts