Dfcu Bank has publicly responded to what it describes as “unfounded stories,” strongly denying recent allegations of an internal crisis. This follows reports circulating online and in local media suggesting serious internal issues, including a physical altercation between staff members.

In an official press statement released on Saturday, 20th September 2025, the bank moved to reassure its customers and stakeholders. Management described the reports as “misleading” and intended to “cause unnecessary concern.”

“The claims are without basis and should be treated with the contempt they deserve,” the statement read. The bank emphasized that it remains focused on delivering “secure, reliable, and innovative financial services” across Uganda.

The alleged scandal centers around an unverified report of a physical confrontation at the bank’s headquarters. According to these reports, a junior staff member allegedly assaulted a Kenyan executive, Marrann Wanjiku.

The same reports also suggested that the incident is part of a wider internal crisis. They claimed that CEO Charles Mudiwa was recalled from retirement to help stabilize the bank, with a strategy described as “plaster, paint, and sell.” It was also reported that Mr. Mudiwa issued memos to staff across the country, advising them to avoid violence and encouraging them to report grievances directly to him.

The bank’s statement did not mention these specific allegations but broadly rejected all negative claims as false. Dfcu urged the public to “rely only on official communication from the bank and to disregard misinformation from unverified sources.”

For now, Dfcu Bank, which is regulated by the Bank of Uganda, continues normal operations. In 2025, the bank reported a 12% increase in share value to Shs 253, with its market capitalization rising to Shs 189 billion.