dfcu says branch closure claims innacurate

Development Finance Company of Uganda Bank Limited (dfcu) has dismissed as fake news, claims that it has commenced closure of 22 branches countrywide.

The bank's management on Sunday issued a notice and asked the public to ignore what it refers to as non-factual stories doing the rounds on social media, that the closure starts on October 14.

"The Bank wishes to clarify that the purported notice in respect to branch closures is false and did not originate from dfcu Bank," the notice says.

The institution operates a 63-branch network countrywide. The clarification notice explains that during the bank's annual general meeting in June, it explained that it had commenced a realignment strategy for effective and efficient customer service.

"The bank is in the process of implementing its digital strategy to drive better customer experience, improve efficiency and align its operations with emerging trends in the financial sector," the adds.

The bank says it is prudent business sense to champion accelerated rationalisation of branch operations and redesigning of the Branch model.

New strategy

The bank says, inside the past two years, it has introduced convenient and timely service delivery platforms like agent banking, online banking and mobile banking, to buttress the digital agenda drive.

"Dfcu will continue to align the Branch network to leverage these alternative channels," stresses management.

The institution has reassured its customers and stakeholders and the public, that it will continue providing people-centred financial services and not waver in its economic transformation agenda.