Crane Bank Rwanda
| Private | |
| Industry | Financial Services |
| Founded | 2014 |
| Headquarters | Kigali, Rwanda |
|
Key people
|
Edigold Monday Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Total assets | US$13.7 million (UGX:38.1 billion) (2014) |
| Website | Homepage |
Crane Bank Rwanda is a commercial bank in Rwanda, licensed by National Bank of Rwanda, the central bank and national banking regulator. In June 2017, the Commercial Bank of Africa signed an agreement to acquire the assets to Crane Bank of Rwanda, pending regulatory approval.
The bank began operations on Monday 30 June 2014, having received a full unrestricted banking license from NBR, one year earlier. The estimated total asset valuation of the institution at December 2014 was approximately US$13.7 million, with shareholders' equity of approximately US$8.6 million. The official exchange rate at 31 December 2014 was USh2,778 = US$1.00.
Crane Bank Rwanda was a 100% subsidiary of Crane Bank, the 3rd largest commercial bank in Uganda, the largest indigenous commercial bank in the country, with approximately US$620 million in total assets at December 2014.
Crane Bank Rwanda was a member of the Ruparelia Group, A Uganda-based conglomerate, that included a bank, insurance companies, foreign exchange bureaux, schools, radio stations, a university, hotels and resorts. In October 2016, the Bank of Uganda took over the administration of Crane Bank and its subsidiaries, due to under-capitalization. In January 2017, DFCU Bank purchased the assets and liabilities of Crane Bank.
As of July 2015[update], CBR maintains the following branches:
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