Crane Bank needed 157 billion to stay affloat - Parliament told

2,019 views · Published 12 December 2018 · 3:25 · Indexed 27 September 2026

Channel: NTVUganda · 2018 · News & Politics

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Parliament’s committee on Commissions Statutory Authorities and State Enterprises has learnt that Bank of Uganda spent 478 billion to sell Crane Bank, way above the 157 billion shillings it needed to return to adequate recapitalization.

However, officials at the Bank of Uganda, also known as the lender of last resort explained to MPs that Crane Bank failed to provide collateral security for a 79 billion shilling loan facility, the central bank proposed.

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