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| Dr Kimei |
CRDB Bank has
partnered with Kenya’s PTA bank to enable its clients to achieve their business
goals through joint financing programmes, which brings innovative solution to
customer needs.
Briefing CRDB’s
corporate customers, the Chief Executive Officer, Dr Charles Kimei, said under
the partnership the banks have invested in quality and talented manpower to
constantly attend to clients business needs.
“We found it
useful to join hands with our compatriots from Kenya, PTA Bank in trying to
open more doors for you, our customers, in search of new markets and raw
materials.
“We have
repackaged some of the services like trade finance, premier services, purchase
online, SimBanking and internet banking solution tailored to customers’
expectations,” Dr Kimei told the gathering during business breakfast in the
city.
The partnership
will expose CRDB to 19 countries that are members of the Eastern and Southern
African Trade and Development Bank (PTA). The bloc is the second largest Direct
Foreign Investment (DFI) by geographical coverage in Africa.
PTA Bank key
lending terms are loan amount not exceeding 25 million US dollars (about
40bn/-) but not less than 500,000 US dollars (about 800m/-) with tenures ranging
from one to 15 years depending on the type of loans.
Repay tenure for
trade finance takes up to three years, project finance up to ten years and
infrastructure takes up to 15 years.
The breakfast
forum geared at to expose CRDB’s corporate customers to these lending
facilities, on trade finance namely import and exports through guarantee and
bonds, pre and post shipment finance.
On project and
infrastructure PTA offers leasing, equities, medium term senior debt and
syndications and co-financing.
CRDB in 2011,
made a strong pre-tax profit of 51bn/- (USD 31.8million) and its deposits stand
at 2.4trn/- (USD 1.5 billion) while loans portfolio grew to 1.4trn/- (USD 875million).
PTA Bank, that
was established under the COMESA charter in 1985, profitability rose from 20
million US dollars (about 32bn/-) to 34 million US dollars (about 54.4bn/-) in
last year.
Comesa member
countries are Burundi, China, Comoro, Djibouti, DRC, Egypt, Eritrea, Ethiopia,
Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Uganda, Zambia
and Zimbabwe.
Source: The Daily News, http://www.dailynews.co.tz
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