By Najibu Mulema

The chairman Uganda Bankers Association(UBA),Fabian Kasi has assured the public that Crane Bank limited which was recently taken over by the Central Bank that,is now fully operating and inside the banking halls people are busy depositing meaning that they have once again returned their confindence towards the bank.

While appearing on Nbs television today on a show called morning breeze,Kasi said Crane Bank is not under receivership,its under statutory management which is also provided for under the law.Under statutory management,Bank of Uganda(BoU) took over management inorder to correct what had gone wrong.

“There is nothing unusual about BOU monitoring all banks. The regulator does that to ensure things are running properly. All banks are operating. All doors are open. We encourage banking community to maintain confidence in all 25 banks.”said Kasi.

” Bad loans have increased but banks are not choking. We have loaned out UGX10 trillion. Only UGX900bn are bad loans. Even amid a slowed down economy, banks can’t completely stop lending. There are people who are worthwhile.” Kasi added.

He went ahead to defend the economy saying that the challenges but the economy is not closing since most every  we have elections, there is anxiety among investors who hold back. This time around, we also had external factors like the war in South Sudan and a global economy that has slowed down.

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