Bank of Uganda has closed Global Trust bank for its continuous making of losses for a period of five years which had accumulated to 60 Billion Uganda shillings.

Governor Bank of Uganda Prof Tumusiime Mutibele says all customers of Global Trust will now access their accounts through DFCU bank starting next week and all loans will paid to this bank on the same conditions.

Mutebile adds this has been done to protect depositors of Global trust bank from making loses in case it closes abruptly.