Deepak Malik Eventually Quits Dfcu Bank


Bank of Uganda has announced that Deepak Malik who has been a director on the board of bank has finally resigned and left the board of the bank.

According to an internal memo, Malik ceased being a member of the board on September 21, 2018. The board had early hinted on his resignation as being normal.

“The board of directors of Dfcu (the company) informs its shareholders and general public of the resignation of Mr Malik as a directorin the company with effect from the 21th of September 2018.

Mr Malik joined the board in November 2007 as an independent director and resigns due to increased professional commitments following his appointment as the Chief Executive Officer of AriseBV, the majority shareholder in the company”

This announced brough an end to rumours which had suggested Malik had quit DFCU. It is now official. His quitting, industry players say will shake investor confidential as the bank is face with an imminent departure of CDC Group.

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