Housing Finance Bank has confirmed the resignation of Mathias Katamba as its managing director, days after rumors of the same circulated on social media.

In a statement released by David Geoffrey Opiokello, Housing Finance Bank’s chairman board of directors, the bank announced the appointment of Michael K Mugabi as acting managing director.

Opiokello said Housing Finance Bank “appreciates the services and contribution of the outgoing Managing Director, Mr Mathias Katamba, and wishes him well in his future endeavors”.

Katamba is reportedly on his move to replace Juma Kisaame as DFCU Bank Managing director.