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4-Traders Homepage  >  Equities  >  DAR ES SALAAM STOCK EXCHANGE  >  CRDB Bank PLC    CRDB   TZ1996100305

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CRDB Bank : Plan Measures to Cut Bad Debt Ratio

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05/25/2016 | 02:18pm CEST

CRDB Bank is putting emphasis on consolidating improvements made on credit risk management processes to further reduce non performing loans. The bank said the emphasis was to lower NPLs that stands at 6.4 per cent to less than 5.0 per cent of industrial benchmark.

CRDB Bank Managing Director Dr Charles Kimei said the bank continued focusing on achieving operational effectiveness and customer experience while maintaining its core business model. "We will keep on investing our resources, time and expertise in improving our service delivery standards while constantly upgrading our alternative banking channels," Dr Kimei, said in a statement.

The bank envisaged to achieve the results by being more innovative and exploiting and aggressively executing on new business opportunities. The bank climbed from one of the lowest bank, which controlled only 5.0 per cent of the market share, to the largest bank in the country--in terms of balance sheet--in the last 20 years. According to Dr Kimei, the bank "will continue to offer quality products and services and ensure that banking with us is an ongoing enjoyable experience.

" In 2015 CRDB's NPLs slowed down to 6.4 per cent from 7.0 per cent of 2014, but the ratio is still higher than recommended benchmark of 5.0 per cent. The bank NPLs climbed up mainly on the two fronts--after Bank of Tanzania introduced a new regulation that stipulates that for any probably bad loan a bank should put 1.0 per cent of the loan aside until four settlements are made.

Also, last year General Election that reduced liquidity in circulation.

The bank last year managed to open 40 government service centres after being awarded the tender for provision of banking services to many Local Government Authorities. "We also made deliberate efforts in expansion of our delivery system and started an upgrade of our core banking system in order to enhance efficiency," Mr Kimei said.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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