After DFCU Bank’s takeover of Crane Bank last month, management announced that all staff would keep their jobs. Matooke Republic has however learnt that the bank has gone back on its word and is to fire 527 out of the 625 staff.
Only 98 former Crane Bank staff have been retained.
Bank of Uganda governor Tumusiime Mutebile had assured all Crane Bank staff that they would retain their jobs when the central bank took over the bank over undercapitalisation in October last year, but this is a promise that will not materialise.
When the bank was sold to DFCU in January, MD Juma Kisaame also assured staff that they would not lose their jobs and asked them to continue work as full time DFCU employees, but now almost all former Crane Bank staff are to be laid off.
Crane Bank was one the biggest indigenous banks, with 46 branches countrywide and following take over by DFCU, 23 branches were closed during the integration process, which caused panic among former Crane Bank employees but the bank then said their jobs were secure.
The high levels of unemployment in the country are casting a gloomy picture for these former Crane Bank staff and their dependants.