CRDB Bank profits increase 60 per cent

Profit after tax for CRDB Bank went up by 60 per cent to reach 80bn/- during the eleven months of the current calendar year, the bank’s managing director has said.

Dr Charles Kimei said at an event to mark the bank’s family day at the weekend that the country’s largest bank by assets made a profit after tax of 50bn/- during the first eleven months of the 2011 calendar year.

“Basically, 2012 has been a year that was full of challenges to financial institutions. However, we managed to make a profit of Sh80 billion between January and November 2012. 

"In a similar period last year, we made a profit after tax of 50bn/-,” he said.

CRDB attributes its success to innovative services and the bank’s massive branch expansion drive.

Currently CRDB has a branch network of 85 outlets.

Its SIM Banking service, launched in 2010 was recently improved to cover many other areas that help clients in meeting their financial needs.

And, having registered a splendid performance in 2012, the bank now looks to a bright 2013, banking its hopes at further increasing the number of its branch network and coming up with more and more innovative ideas.

According to Dr Kimei, for this year the bank has employed more than 300 new employees across the country.

“The Labour force that has joined us recently would enable us to continue improving our service and also to enable the bank to be among the best successful banks in East Africa,” said Dr Kimei.

For their part, CRDB Bank employees who get together with their relatives for the family day, an event that was held at Kunduchi Wet n’ Wild, applauded the management decision saying that it create good relationship among them.

“We thank the management for creating this innovative idea that provides an opportunity to all CRDB employees to join their colleague and their families to celebrate this event,” said bank’s officer from Azikiwe Branch George Machange.
Source: The Citizen, thecitizen.co.tz, reported by Frank Aman and Tibasima Mlanda in Dar es Salaam

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