Dfcu Bank has closed 23 of the 46 Crane bank branches following a take over of the embattled bank late last week. The two banks, combined, had a total of 89 branches around the country with Crane Bank having 46 branches.
However, when dfcu Bank bought some of the assets and liabilities of Crane Bank, the bank noted that only 66 branches are now open around the country.
“The integration entails rationalisation of the combined branch network bearing in mind that prior to the transaction, there were locations where both Dfcu Bank and Crane Bank had points of representation. As a result, Dfcu Bank’s existing and new customers now have access to 66 branches and over 100 ATMs countrywide,” Mr Juma Kisaame, the managing director dfcu Bank, told reporters at a press conference yesterday.
Some of the Crane Bank branches that were integrated into Dfcu branches are Arua, Gulu, Mbale, Mukono, Mbarara and Masaka, among others. Both Crane Bank and Dfcu Bank had been expanding around the country in an attempt to grow the retail segment of the market. Mr Kisaame says that the closure and merging of branches was inevitable.
He also noted that they have re-branded former Crane Bank branches and operations are going on.
On the closed branches, the bank said it was still compiling the list.