Speaking in Arusha ahead of the CRDB Annual General Meeting and Stakeholders’ Conference, coming up here this weekend, the Bank’s Managing Director, Dr Charles Kimei allayed fears that local banks in the country were facing financial crisis saying everything was fine and that his own group had managed to realize a profit margin amounting to over 36bn/- as this financial year draws to a close.
“We are doing very well as a bank, we made a profit of 53 billion/- before taxes and netted 36 billion/- after deductions,” said Dr Kimei adding that he was sure that if there were some slight challenges facing financial institutions in the country they should all be addressed by now.
“People need not fear and in fact as you have heard recently we have reduced interest charges imposed on loans to encourage even more people to apply for credit,” pointed out Dr Kimei.
He revealed that CRDB has so far issued loans amounting to 3 trillion/- and counting; “Our institution tops the bill in East Africa as far as loans disbursing is concerned.”
CRDB Bank’s Managing Director, Dr Kimei pointed out that, instead of resting on their laurels, his institutions, as well as other banks in Tanzania need to start adjusting their operations in order to adopt well to the ever-changing international markets and fluctuating global economy that usually affect performances of financial institutions and other businesses in the country.
“During this weekend’s CRDB Annual General Meeting and Stakeholders’ Workshop, we intend to start thinking ahead and pioneer the move to start adjusting our bank’s operations so as to be in better position of being ‘future proof,’ whether the world’s economic situation changes or not,” he said.