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Uganda: Crane Bank Wins Another Global Award
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New Vision (Kampala)
22 July 2008
Posted to the web 23 July 2008
James Odomel
Kampala
CRANE Bank has scooped another international award based on its performance in 2007. The best bank of the year achievement was won at the EUROMONEY 2008 Awards for Excellence on July 11 in London, the UK.
AR Kalan, the managing director, disclosed that this was the first time the bank got a EUROMONEY recognition.
"This is the maiden award for Crane Bank from EUROMONEY but we have received several others from international entities," Kalan explained.
"This award also sets a bigger responsibility on our shoulders to keep the standards and ensure quality service delivery through the provision of relevant products to our customers and this market. It also means we have to take services closer to the people," he added.
The award was based on profitability, income ratio, return on assets and general growth of the business.
The bank, Kalan reiterated, was on course to float shares through the stock exchange to allow the public buy into the bank and share its success story.
Last year, the bank's profits grew to sh25.1b, up from sh15b the previous year.
The loans and advances to customers grew to sh145b, up from sh118b last year, while customer deposits went up to sh290b from sh172b, the previous year.
The bank has seven branches but plans to open additional four before the end of the year, Kalan said.
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Kalan said the drive was to extend the bank's presence to all corners of the country with the intention of growing business and creating jobs.
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