Crane Bank customer care staff at a past finance and insurance expo in Kampala. PHOTO | MORGAN MBABAZI
Massive withdrawals disguised as payments to suppliers by corporate customers over the past two months prompted the placement of Crane Bank under management by the Bank of Uganda.
Industry sources told The EastAfrican how traders and government agencies were tipped off by employees on a widening hole in the bank’s balance sheet following the coming into force last year of stricter regulations on provisions for non-performing debts.
