DFCU Bank has commenced vacating Meera Investment Limited Properties that it has been illegally occupying ever since they bought Crane Bank Limited from Bank of Uganda.
The eviction comes after a court ruling last year that ordered DFCU Bank to vacate Meera Investment Limited properties.
And this Monday morning, tracks carrying DFCU bank belongings including chairs, teller tables among others were seen leaving some of the Meera buildings.
Sources said that DFCU might in the meantime quit 20 of the 48 contested buildings.
The closure of these branches will lead to loss of jobs as staff members who have been working in these branches are expected to be laid off.
dfcu Bank controversially acquired Crane Bank Ltd in January 2017, after the Bank of Uganda put the former under statutory management and later closed, and sold it off.
As a result, the dfcu Bank has been caught up in the ensuing legal battle between the shareholders of Crane Bank Ltd led by city tycoon Sudhir Ruparelia and the central bank.
