Mathias Katamba is set to leave his role as the Chief Executive Officer (CEO) at DFCU Bank after the Board of Directors rejected to extend his contract.
Katamba joined Dfcu bank from Housing Finance Bank on January 2, 2019, following the departure of Juma Kisaame whose leadership would see the bank involved in the scandalous acquisition of Crane Bank Limited (CBL) in 2017.
While at the helm of DFCU, the bank which had emerged the top financial institution registered a tremendous drop in profits over the years
Last financial year, the bank suggested that no profits should be extended to the shareholders in the wake of enlisting a drop in profits of Shs11 billion.
The board saw it wise not to dispense any dividends to shareholders so that it can keep the financial institution with enough liquidity to deal with any possible emergency.
According to sources, Mr Katamba sent an email to all staff of DFCU on Friday announcing his exit.