Dfcu Bank Dismisses fake Media Reports , reinforces its position as most trusted financial institution

Dfcu Bank has dismissed as baseless a wave of recent media reports seeking to tarnish its reputation, reinforcing its position as one of Uganda’s most trusted financial institutions.

In a statement, the Bank described the circulating media reports as “unfounded” and “intended to mislead and cause unnecessary concern.”

It urged customers, stakeholders, and the public to rely only on verified communications from the Bank.

“Our focus remains on delivering secure, reliable, and innovative financial services to support individuals, businesses, and communities across Uganda,” dfcu management said.

“Claims suggesting internal unrest, financial mismanagement, or preferential treatment are without basis and should be treated with the contempt they deserve.”

The contested reports alleged internal discord, employee assaults, and extravagant spending, including Shs 1 billion on anniversary celebrations and another Shs1 billion pledged to charitable initiatives.

Dfcu Bank, however, emphasised that these claims ignore the institution’s sustained achievements and transparent operations.

With over 60 branches nationwide and assets exceeding Shs4 trillion, dfcu continues to advance initiatives such as the Uganda Green Enterprise Finance Accelerator (Ugefa), supporting climate-smart loans for SMEs, and the Ku Mapeesa campaign, which facilitates school fee payments.

In 2024, the Bank recorded a 151% profit increase to Shs72 billion and contributed Shs100 billion in taxes, underscoring its role as a stable and reliable economic partner.

CEO Charles Mudiwa has also taken proactive measures to ensure workplace harmony, issuing memos to staff countrywide promoting non-violence and direct communication with management.

Dfcu further provides whistleblower channels to report any misconduct, ensuring transparency and accountability within the organization.

Regulated by the Central Bank of Uganda, dfcu Bank safeguards customer deposits through the Deposits Protection Fund of Uganda up to Shs10 million.

The Bank reiterated that it remains committed to ethical, professional, and community-oriented banking practices, urging the public to disregard unverified sources and speculation.

“Going further, together remains our guiding principle,” the statement concluded, reaffirming dfcu’s dedication to sustainable growth and unwavering service to Ugandans.