The CRDB Bank Board Chairman, Mr
The Bank's after tax profits is clocking at 84bn/- an increase of 3bn/- from last year's profits a performance resulted from growth of shareholders' funds from 317 bn/- in 2012 to 376 bn/- by the end of 2013.
The growth is equivalent to an increase of 19 per cent in the CRDB shareholders' funds.
Tabling the prospects for this year 2014, the CRDB Board Chairman stated that the macroeconomic performance has been strong with inflation declining to single digits and gross domestic product (GDP) growth projected at about 7 per cent in the medium term.
"It is my expectation that in 2014 CRDB will continue to be a leading bank in
Apparently CRDB focuses that the main drivers for the economy in this and the next fiscal year will be telecommunications, transport, financial intermediation, manufacturing, construction and trade.
"We also expect better opportunities for corporate banking and wealth management from large foreign and domestic investments targeting mining sector and fast growing middle and high income classes respectively," said Mmari.
He said he was on view that the newly found natural gas resources will indeed play an important role in the country's socio-economic transformation over medium term with planned large investments in gas and energy sectors expected to reduce power tariffs and electricity supply problems in future.
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