Crane Bank Opens 44th Branch

Crane bank opened its 44th branch in the country on Saturday in the central district of Luweero.

The branch opening is the fifth this year and will provide options for Luweero and Kasana town council residents who had only Stanbic and Equity bank outlets in the area.

Arun Nambiar, the manager, said the new branch has 10 counters, a spacious banking hall and parking lot to conveniently serve its clients. Hundreds of excited residents attended the colourful opening ceremony and applied to open bank accounts.

Before opening the Luweero branch, Crane bank had opened new branches in Ntungamo in April, Rwanda in June, and Kyengera and Ndeeba in November. In his speech at the Luweero opening, acting Managing Director P.K Gupta said their aggressive expansion was aimed at bringing banking services closer to people in all regions of the country.

The bank aims to open a total of 50 branches by the end of 2015, Gupta disclosed. Recently, Crane bank was named Bank of the Year in Uganda, for the ninth time in 10 years by the influential London-based Financial Times newspaper.

Sudhir Ruparelia, proprietor of the bank, and Luweero district chairman Abdul Nadduli, presided at the opening. Sudhir said since Luweero leans largely on agricultural-based economic activities, Crane bank would introduce new products aimed at helping farmers.

“We have Euros 28 million available for loans to long-term projects, lasting between seven and nine years,” he said.

Source : The Observer

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