Crane Bank is Safe – Sudhir

Tycoon Sudhir Ruparelia
Tycoon Sudhir Ruparelia

The proprietor of Crane Bank Limited, Dr. Sudhir Ruperalia on Wednesday night called Red Pepper and revealed his bank is safe and sound following rumours that it was robbed of $19million (Approx. Shs 50 billion).

Kampala’s newswires and a number of social media sites were awash with reports that it’s long serving Managing Director Mr. A.R Kalani was on the run after stealing the money and was hiding in the United Kingdom. The stories also claimed Mr. Karlani had conspired with Deputy Managing Director Mr. Ajay Kumar and the Head of Credit, Mr. Regu to rob their boss.

“Those are rumours being peddled around by competitors. These are very unfortunate rumours and please treat them as false. Mr.Karlan is away in the United States attending to his sick wife,” Sudhir said on phone from Holland.

He added that the bank was safe and sound saying any of his competitors might be interested in his bank.

Crane Bank boasts of 41 branches across the country and recently went international by opening a branch in Kigali, Rwanda.

It is part of the multibillion Ruperalia Group of Companies whose business interest span Hospitality, Insurance, Education, Media, Horticulture, Real Estate and Recreation.

Sudhir was recently named by Forbes Africa Magazine as the 18th richest man in Africa.

Below is the press release from Crane Bank

Our attention has been drawn to rumours surrounding the absence of its Managing Director Mr.A. R.  Kalan from office. The rumours with a variety of flavours ranging from loss of USD 18 million, others Shs. 60 billion etc are baseless and unfounded. They should be ignored.

Mr. Kalan is on leave with the approval of the Board of Directors.

On granting an extended leave the Board appointed one of its Executive Directors Mr. R. K. Gupta, a seasoned Banker, as the acting Managing Director.

The Board is pleased to announce that in compliance with the requisite regulations governing Financial Institutions, Mr. R.K. Gupta is the Acting Managing Director until further notice.

We appreciate the ever growing support of the Bank`s clientele all over the country as the spread of the branch network continues.

Thank you


J. N. Biribonwa

Chairman , Board of Directors  






11 thoughts on “Crane Bank is Safe – Sudhir

  1. Of course crane bank is safe, the owner will replace the stolen money using our hard earned taxes !!!………we know who owns it even though Sudhir a former London taxi driver is there as a mannequin to convince the unsuspecting public that he is the proprietor.

      1. No, it is not envy. How would you not mischaracterize Kasolo as being envy, when you are the beneficiaries of stealing the country resources! Enjoy while it lasts.

  2. Taxi driver in London comes to Uganda with TEN pounds only. Now is mega rich! Why can’t we do it? Strange how foreigners succeed where Ugandans fail! Our government supports them to take out big loans and invest whereas local business people struggle to have a start.

  3. does someone else notice that all the mentioned bank heads are Indians? are they the only qualified personnel to handle the work? plus crane bank advertises managerial positions in Indian press not Uganda.

  4. Uganda’s businesses are very uncompetitive. Crane bank has capitalized by tax payers money, courtesy of its ghost owner. Have you tried to figure why of all places in East Africa, this bank is opening a branch in Kigali? Because they can continue money laundering because, just as they do in Uganda. Let them try Kenya or East or Tz, they will be busted.

  5. No, it’s not envy but jealousy. Tell me haters did Bill Gates or Michael DELL also swindle tax payers’ money?

  6. is sudhir a Dr? if yes a Dr of what? Last time I heard he was just a taxi driver in London before he was brought here by fellow looters to be their conduit.

  7. When did Sudhir get a doctorate??Please stop insulting people who read their books and obtained Doctorates in their areas of specialization.Ugandans have the propensity of throwing around big titles You hear them calling themselves Professor so and so and Dr so and so when everyone knows that they are just imposters and wannabes.

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