24 October 2011

Uganda: Crane Bank Relaunches Branch to Surpass Competition

Kampala — Crane Bank has re-launched its Kyambogo branch (5 miles east of Kampala city) to beat the growing competition with in the banking industry in the country. The branch that was opened in 2009 has been upgraded to have banking hours extended for late bankers.

Speaking at the relaunch of the branch, Crane Bank Managing Director Mr. Ali Kalan said that the branch targets University students of Kyambogo as well as the business community of car dealers in the neighboring areas.

"With the competition in the banking industry moving towards having diverse branches, it is the right time to join the race," Kalan said.

Kalan says that the refurbished branch will offer among other services more counters to include Uganda Revenue Authority payments and forex trading.

The Chairman of Crane Bank Mr. Joseph Baribona expressed the Bank's commitment to enforce government efforts geared towards alleviating poverty. "Much as there are many commercial banks spreading in the country, a large proportion of the population still has no access to formal financial services," Baribona said. "Government should take a lead in financial literacy training to overcome the challenges to developing a saving culture among Ugandans."

He noted that such strategies help unleash the potential of local entrepreneurship to transform socio-economic status, strengthen private sector development and contribute to the country's economic development.

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