CRDB eyes EAC region

CRDB Bank is set to expand to the East African region and beyond to reap from opportunities from growth, increased investments and trade.

The bank recently opened a branch in Burundi which in its initial six months of operation recorded outstanding returns.

The Bank’s Director of Marketing and Research, Ms Tully Esther Mwambapa, unveiled the ambitious plan in her presentation to the CRDB shareholders during the 18th Annual General Meeting held in Arusha over the weekend.

“Next year, the bank will reveal where it will establish another branch after the successes registered within a short period of time in Burundi,” she noted.

In his comments, the CRDB Bank Managing Director Dr Charles Kimei said the bank was carrying out feasibility studies in selected areas of the EAC region to establish their viability for banking services.

Dr Kimei cited the DR Congo as an example of countries with high demand of banking services but the general state of insecurity makes it less viable for investment. 

“Congo, particularly Eastern Congo, is not an easy environment but opportunities abound,” Dr Kimei said.
Source: The Daily News, reported from Arusha
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