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Panic at Dfcu Bank As 69 Staff Resign

It is state of difficulty at the troubled DFCU bank following the resignation of a69 staffs from different branches across the country.

Employees accuse the management of failure to conduct staff appraisals and failure to pay their salaries on time.

Majority of those who have resigned also accuse the management of harsh treatment.

Among senior staff members resigning from their positions are branch managers and customer care managers.

Notably, among the employees that have thrown in the towel in include Ntinda branch manager a one Carlo.

A source within the bank also says about 6% of the branches country wide have been forced to close because the bank has no capacity to run them and can’t afford salaries for employees.

“They cannot recruit new staffs because they don’t have what to pay us”. A female cashier at one of down town Kampala Kikubbo branches says.

Those going are reportedly seeking greener pastures in in other banking institutions including Stanbic.

The bank has in recent days faced massive resignations including William Sekabembe the Chief of Business and Executive Director of the embattled DFCU bank who resigned his office last week.

Deepak Malik the bank board member also the Chief Executive officer of its biggest shareholder Arise BV also resigned from his position last weeks.

The bank’s oldest shareholder CDC group also last weeks announced its exit under unclear circumstances.

DFCU bank acquired Crane bank from bank of Uganda last year at just shs 200bn despite the bank possessing assets worth shs 1.3trillion.

It is also currently battling court cases with former Crane Bank shareholders who ran to court to challenge the process of acquiring their bank which they say was marred by flaws and irregularities.




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