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Crane Bank

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Crane Bank

Crane Bank
Type Private
Industry Financial Services
Founded 1995
Headquarters 38 Kampala Road, Kampala, Uganda
Key people Joseph Biribonwa
Chairman
A. R. Kalan
Managing Director
Ajay Kumar
Deputy Managing Director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax: US$32.62 million (UGX:80.4 billion) (2012)[1]
Total assets US$469 million (UGX:1.2 trillion) (2012)
Employees 500+ (2012)
Website Homepage

Crane Bank is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.[2]

Overview

The bank is a mid-sized financial services provider in Uganda. It is involved in all aspects of commercial banking with a focus on the provision of banking services to foreign embassies and non-governmental organizations and their staffs. As of December 2012, Crane Bank was the 4th largest commercial bank in Uganda, with an asset valuation of approximately US$469 million (UGX:1.2 trillion), and shareholders' equity in excess of US$101.6 million (UGX:260 billion).[3] The bank is the largest indigenous Ugandan commercial bank. In October 2013, its customer base was estimated at about 600,000.[4]

History

Crane Bank started operations in 1995 after receiving a commercial bank license from the Bank of Uganda. The bank is a member of the Ruparelia Group which includes financial institutions, insurance companies, real estate investments, horticultural enterprises, hotels and resorts.[5] As of October 2013, Crane Bank was pursuing expansion plans into Rwanda, where a new subsidiary is expected to come on-line in January 2014.[6] Plans are also underway to expand to the Democratic Republic of the Congo and South Sudan.[7]

Ownership

The exact percentage share ownership of Crane Bank is not publicly known. The bank is a member of the Ruparelia Group. The group includes a bank, insurance companies, foreign exchange bureaux, schools, radio stations, hotels and resorts. In September 2013, Ugandan print media reported that the bank's stock will be listed on the Uganda Securities Exchange in 2014.[8]

Governance

Crane Bank is governed by a ten person Board of Directors. Joseph Biribonwa, one of the non-Executive Directors is the Chairman of the Board. Sudhir Ruparelia, the largest shareholder, serves as the Deputy Chairman. The Managing Director and CEO is A.R. Kalan. The Deputy Managing Director is Ajay Kumar; he is assisted by ten other managers including A.R. Kalan, in the supervision of the daily operations of the Bank.

Branch Network

As of October 2013, Crane Bank maintains a branch network in all four regions of the country. The branches of the bank include the following locations, arranged alphabetically:[9]

  1. Abayita Ababiri Branch - Entebbe Road, Abayita Ababiri
  2. Arua Branch - Arua
  3. Entebbe Airport Branch - Entebbe International Airport[10]
  4. Entebbe Branch - Entebbe Town
  5. Gulu Branch - Gulu Avenue, Gulu
  6. Hoima Branch - Hoima[11]
  7. Iganga Branch - Main Street, Iganga
  8. Industrial Area Branch - 165 Sixth Street, Industrial Area, Kampala
  9. Islamic University Branch - IUIU Main Campus, Mbale
  10. Jinja Branch - Lubas Road, Jinja
  11. Jinja Road Branch - 1-13 Iconic Towers, Jinja Road, Kampala
  12. Kabalagala Branch - Ggaba Road, Kabalagala, Kampala
  13. Kabale Branch - Kabale Road, Kabale
  14. Kampala Road Branch - Kampala Road, Kampala Main Branch
  15. Kikuubo Branch - 18 Nakivubo Road, Kampala
  16. Kireka Branch - Kampala-Jinja Highway, Kireka, Kira Municipality[12]
  17. Kisekka Market Branch - Shops 1-4 & 29-31, Kisekka Market, Kyaggwe Road, Kampala
  18. Kisoro Branch - Kisoro
  19. Kyambogo Branch - Kampala-Jinja Highway, Kyambogo, Kampala[13]
  20. Kyambogo University Branch - Kyambogo University Campus, Kampala[14]
  21. Lira Branch - Lira Avenue, Lira
  22. Luwum Street Branch - 28 Eagle Plaza, Luwum Street, Nakasero, Kampala[15]
  23. Makerere University Branch - Makerere University Main Campus, Makerere
  24. Malaba Branch - 2-4 Tanga Road, Malaba
  25. Market Street Branch - 9 Market Street, Kampala
  26. Masaka Branch - Masaka[16]
  27. Mbale Branch - 47 Republic Street, Mbale
  28. Mbarara Branch - High Street, Mbarara
  29. Mukono Branch - Mukono
  30. Naalya Branch - Metroplex Shopping Mall, Kampala Northern Bypass Highway, Naalya[17]
  31. Najjanankumbi Branch - Freedom City Mall, 1040 Entebbe Road, Najjanankumbi[18]
  32. Nakivubo Road Branch - 40A Nakivubo Road, Kampala
  33. Ntinda Branch - 1B Ntinda Road, Ntinda
  34. Soroti Branch - 4 Kennedy Square, Soroti

See also

External links

  • Crane Bank Homepage
  • Highlights of 2010 Financial Report
  • Crane Bank Plans To Expand To Rwanda And DRC
  • Foreign Exchange Calculator At Oanda.com
  • Crane Bank Profits Up By 29.4% In 2011
  • Crane Bank Opens 23rd Branch In Uganda

References

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