Dfcu Bank Speaks Out On ‘Malicious Propaganda’

dfcu bank  has said there’s ongoing malicious propaganda with deliberate effort to taint the reputation of the bank and its leadership.

“Over the last couple of days, a torrent of malicious propaganda has been circulated through online publications and social media in what appears to be a deliberate effort to taint the reputation of dfcuBank and its leadership,” dfcu bank says in a statement dated Octobber5, 2018.

It adds: “These allegations, that are varied in nature, seek to cause unnecessary concern among customers by casting a shadow of uncertainty on the future of dfcu and as such should be treated with the utmost contempt they deserve.

The Bank remains resolute in delivering on the dfcu brand promise of ‘Making more possible’ and pursuing its strategic business objectives.”

Established in 1964 as a development finance institution, dfcu says it has over the years dfcu been associated with many success stories in Uganda’s economy in various sectors including agribusiness, communication, education, health, manufacturing, tourism, real estate, mining, construction, transport, trade and commerce, among others.

Headed by Juma Kisaame as Managing Director, dfcu acquired some assets and liabilities of Crane Bank in 2017.

dfcu is incorporated in Uganda as a public limited liability company and is domiciled in Uganda. Some of the company’s shares are listed on the Uganda Securities Exchange.

The major shareholders of dfcu with their shareholdings are:

Arise (Norfund, Rabobank & FMO)-58.07%, Commonwealth Development Corporation (9.97%), NSSF (7.46%) and others 24.5%.