By Watchdog reporter
Thursday October 20, Bank of Uganda shocked the country and the business community worldwide when it took over the management of Crane Bank, the fourth biggest bank in Uganda. And the second biggest local bank.
The local people reacted from serious afterthought to satirical comments. Here we sample for you how Ugandans reacted on Facebook.
Katoto struck by not good news. @BOU_Official takes over Crane Bank. Are we on the road to middle income status!!!, #Thinkingharder.
I am really feeling sorry for Sudhir and this Crane Bank mess. Bambi the muyindi has suffered. I pray that God gives him strength during this trying time. Let me go to my local bar to mourn this terrible occurrence. I’ll probably be in a bar that pays rent to him, drinking a beer that was made using raw materials from one of his factories and was transported in a truck imported by a company in which he has shares. Bambi Sudhir.
Moral of the Story – Always support your friends especially during their trying times.
The public needs to calm down because its just a change of name from “CRANE BANK LTD ” to “CRANE BANK OF UGANDA ” as my colleague Kyeyune John Lule has just confirmed this to me.
The taking over Crane bank by Bank of Uganda is not a surprise to some of us…. Amaama Mbabazi is not seated…he will reveal any of M7s economic strongholds…keep watching this space for more details and more to come-up…who owns what in Uganda and where did u get that money from….Thumbz up to CIA.
“That it means you can now bank with centenary because it’s God’s foundation” a response one twitting.
Yes, indeed Crane bank is perhaps founded on very unclear foundation.
It’s not surprising that many people think they do not know the owner. That alone should be a concern.
Outside crane Bank Premises with our Applications waiting for HR Crane Bank,emm… sorry HR Bank of Uganda to fulfill our dream of working for Bank of Uganda like:…… #CraneBankTakeover
Dreams come true all Crane bank employees their facebook profiles have changed to started working at BANK OF UGANDA on 20th Oct 2016 …Never trust employees
Our so called investor Dr. Sudhil came into Uganda wen he was a poor man, Opened up Crane Bank and we gave him our money to keep it.kumbe he took our money somewhere else to invest it. Now the bankrupt Bank is being taken by Bank of Uganda in the name of receivership and each of us (the subscribers )we gonna be given a maximum of Ugx 3m deposit of how much we had saved! !!!!
After swallowing National Bank of Commerce, Crane Bank has now been taken over by Bank of Uganda.
Effects of Musevenism political Monetisation and raise of Briefcase investors working for NRA occupation.
CRANE BANK: LET’S NOT BE STUPID MONKEYS LAUGHING AT A BURNING FOREST.
I see everyone is searching for my comment regarding the takeover of Crane Bank by BoU. First of all, as a businessman, am not a grave dancer so, I can’t rejoice over the closure or failure of any business. Secondly I do not believe in rumours of any kind and certainly could not have participated in fanning the rumours, well knowing the rumours could lead to a run on the bank, thus exacerbating the situation. I am sure this is the same reason BoU denied those rumours. Thirdly, as my client, it is my sworn responsibility to stand by and advise my client till the last minute- call it an occupational hazard if you like. But most importantly, Sudhir Ruparelia is a personal friend and a mentor and I could not have abandoned him in his hour of most need. As a businessman and entrepreneur I also appreciate that sometimes things go wrong, but that is not what defines us: it is how well you bounce back that is the real definition of an entrepreneur. That said and done, we should not let our personal biases and hatred against Sudhir to blind us to the fact that this economy is effed up. We need to ask the hard questions. It was NBC, next Global Trust Bank and now Crane Bank. Who is next? May be your employer is next. As of June 2016, Non-Performing loans reached 8.3% – that is over Shs1trillion. Reminds me of the case of a stupid monkey laughing at a burning forest.