Nsekela targets to cover whole country with CRDB braches by 2022

11Oct 2018
The Guardian Reporter
The Guardian
Nsekela targets to cover whole country with CRDB braches by 2022

THE country’s largest commercial bank by net assets value and customer deposits will roll-out its services to every corner of the country through physical and digital branches by 2020.

Retired CRDB Bank Plc’s Managing Director, Dr Charles Kimei. File photo..

Addressing journalists in Dar es Salaam yesterday to mark his official take over at the helm of CRDB Bank Plc from veteran banker, Dr Charles Kimei who has retired, new Managing Director, Abdulmajid Nsekela said his management will stay the course in growth as per the bank’s five year strategy.

“I want to assure our customers and shareholders that the bank is in safe hands and it will continue its sustained growth path ad profit making as before,” Nsekela said while stressing that the current prevailing economic environment provides for growth of the banking industry.

“We will continue our growth path and profit making to award our shareholders with handsome dividend as has been the case for the past years,” the youthful banker who decamped from NMB Bank Plc a month ago noted.

Nsekela who was selected by a panel of experts to replace Dr Kimei after a rigorous process since early this year, said his administration will continue investing heavily in modern technology and human capital to stay afloat of the market’s cut throat competition.

“Within the next short period, we will invest heavily in digital products innovation which will enable us reach more people wherever they are and especially in rural areas,” he underlined while noting that with 19.3 million mobile phone subscribers in the country, digital banking is the most effecting way to deliver services.

“We will sensitize and mobilise the over 19 million people with a mobile phone to use our SimBanking and SimAccount services in accessing our banking services which are available anywhere in the country,” Nsekela stressed.

Before shifting to NMB Bank Plc several years ago, Nsekela was a CRDB Bank Plc employee rising to the rank of Retail Bank Manager. His rise to the helm of one of the country’s top five banks, amazed many in an industry dominated by veteran bankers.

At less than 50 years old, Nsekele is one of the youngest bankers to head a conglomerate with three subsidiaries in CRDB Burundi, CRDB Microfinance Bank and CRDB Insurance Brokers Limited, all valued at over 5.4trn/-.

Speaking at the same occasion, the bank’s board Chairman, Ally Laay said directors and shareholders have full confidence in the new Managing Director while promising to give him unconditional support to implement plans and strategies geared at growth. “We as board members strongly believe that you are the right man for the job,” Laay said.

Laay who showered praises on Dr Kimei who in 1996 took over a near collapsing state owned Cooperative and Rural Development Bank which he turned around and made year on year profits since 1998, after making a loss in 1997, assured Nsekela that all was well.

“Dr Kimei dedicated his time to growth this bank for the past 20 years, it’s a tough task done through hard-work and commitment which we hope you will sustain,” the board Chairman noted.

The A-tier commercial bank has 260 branches, 18 mobile braches, 551 automated teller machines serving over two million customers by its over 2,000 staff members.



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