The East African - - NEWS -

The re­port notes that a memo pur­port­ing to ex­plain the trans­fer of Crane Bank’s bad loan book to DFCU was writ­ten six months af­ter the trans­fer. The con­tents of the memo were not in the pur­chase agree­ment signed be­tween BOU and DFCU Bank. The Au­di­tor-gen­eral con­cludes that the memo was an af­ter­thought writ­ten when the pro­pri­etor of Crane Bank, Sud­hir Ru­par­e­lia, queried the process.

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