DFCU Bank has spoken out on the media reports which Saturday suggested that the financial institution is closing its 22 branches countrywide.
But what remains a fact is that the bank has considered vacating 22 building which belong to businessman Sudhir Ruparelia and his Meera Investments Limited it has been occupying since it took over defunct Crane Bank in 2017.
However, the Bank has been grappling with legal battles which it has lost to Sudhir Ruparelia, the former owner of Crane Bank who believes his bank was fraudulently sold by Bank of Uganda under the guise of insolvency.
In August it emerged that the bank was misled by city Law firm Sebalu & Lule Advocates to illegally transfer title properties into its name yet the properties belong to Meera Investments Ltd even though it had leased them to Crane Bank Limited.
Sebalu & Lule Advocates who have been barred by court from representing the same bank against city tycoon Sudhir Ruparelia for being conflicted. The law firm misled dfcu Bank to transfer leasehold titles from Crane Bank Ltd during the controversial takeover two years ago.
A leaked internal memo indicated that DFCU invited bidders who want to provide consultancy services at it seeks to relocate to new areas in various districts and towns across Uganda.
While responding to media reports as untrue which suggested that the bank sought to close the 22 branches in the process of relocation, DFCU has discreetly avoided to confirm nor deny relocating its branches.
FULL STATEMENT
In the last 24 hours there has been a false notice and other nonfactual stories
circulating on social media. The Bank wishes to clarify that the purported notice in
respect to branch closures is false and did not originate from dfcu Bank.
The Bank further wishes to clarify as follows:
- dfcu Bank is NOT closing 22 branches starting 14 th October 2019 as alleged in
the fake notice. The public is advised to disregard it.
- dfcu Bank has a network of 63 branches spread across the country. As we
communicated at this year’s Annual General meeting in June, the Bank is in the
process of implementing its digital strategy to drive better customer experience,
improve efficiency and align its operations with emerging trends in the financial
sector. This calls for continuous rationalization of branch operations and
redesigning of the Branch model.
- The Bank has, in the last two years, enhanced some and introduced new
alternative delivery channels like Agent banking, Online Banking and Mobile
banking to support its digital agenda. dfcu will continue to align the Branch
network to leverage these alternative channels.
dfcu would like to reassure all its customers, stakeholders and the general public
that the Bank continues to focus on its mandate of making more possible for
Ugandans through the provision of superior financial services that transform the
economy and enhance the well-being of the people.