Katamba confirmed as dfcu Bank CEO

The rumours are over, Mathias Katamba, the outing Managing Director of Housing Finance Bank, is the new Chief Executive Officer (CEO) at DFCU Bank.

Katamba’s appointment was announced in a statement by the DFCU Group’s board chairman Elly Karuhanga who also announced the departure of the bank’s longest serving CEO Juma Kisaame.

“The Board of Directors of DFCU Limited informs its shareholders and the general public that Mathias Katamba has been appointed the new Chief Executive Officer of its subsidiary dfcu Bank Limited effective January 2, 2019. The Board is confident that he shall continue to grow the Bank and build on the successes of his predecessor,” Karuhanga’s statement partly reads.

This is after Kisaame notified the bank’s directors of his intention to retire as CEO of DFCU Bank.

The embattled Kisaame is set to leave DFCU Bank on December 15 against a backdrop of a financial scandal that came to light after details of his bank account in Bank of Africa leaked, showing that he has $40 million US dollars.

Kisaame’s woos stem DFCU Bank’s controversial acquisition of Crane Bank Ltd in a transaction that reportedly cost DFCU Bank Shs 200bn which was paid to Bank of Uganda for the takeover.

Bank of Uganda placed Crane Bank Limited under receivership on October 20, 2016 after it was found to be under-capitalised.

However, the Auditor General John Muwanga in a special audit report to Parliament released in August poked holes the takeover.

Karuhanga however praised Kisaame for having steered DFCU Bank for 20 years leading it to “exponential growth” leading to its being named Uganda’s second largest Bank.