(3 Minutes Read)
Through innovation, the bank, which has operated in Burundi for the past 11 years, has managed to raise the number of its banking agents to 1,500 across Burundi from only 630 last year.
CRDB Bank’s Burundi subsidiary has finally become the most profitable lender in that country, thanks to several factors, including the innovativeness of its management and the support it gets from the government, its parent company, and various other partners.
Speaking during the 29th Annual General Meeting (AGM) of CRDB Bank Plc, the parent company’s Chief Finance Officer (CFO), Mr Fredrick Nshekanabo, said the Burundi subsidiary has grown to become the most profitable lender in that country, with assets reaching Sh985 billion and a total of Sh538 billion in customers’ deposits. Burundi contributed Sh30.2 billion to CRDB Bank Group’s net profit for 2023
Speaking to a section of the media on the sidelines of the AGM, the Managing Director for CRDB Bank Burundi SA, Mr Fredrick Siwale (pictured), said during the first quarter of the current calendar year, the subsidiary recorded a net profit of 9.3 billion Burundian Francs (about Sh8.4 billion). Through innovation, the bank, which has operated in Burundi for the past 11 years, has managed to raise the number of its banking agents to 1,500 across Burundi from only 630 last year.
Read Also:
https://trendsnafrica.com/tanzanias-crdb-to-expand-footprints-to-drc/
With the full support of its parent company and the government and regulatory agencies in Burundi, coupled with cordial social, political, and economic ties between Tanzania, CRDB Bank Burundi SA has made some strides in supporting cross-border investments between the two countries.
That is how the bank, in partnership with CRBD Bank Plc, was compelled to finance a fertilizer factory in Dodoma, Tanzania, which has been built by a Burundian investor.
