BabuK
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- Jul 30, 2008
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Shortage of new bank notes has been cited as one of challenges facing customers when accessing money at the Automated Teller Machines.
CRDB Bank Managing Director Dr Charles Kimei revealed this on Tuesday in Dar es Salaam when presenting the Banks audited financial statements for the year 2010.
He said currently the bank has modified its ATMs to allow easy access of money by customers but the problem has been one of shortage of new bank notes.
We dont have enough new bank notes to put into our ATMs we have improved our system to match with the new series but we dont get the money, Kimei said.
Explaining on the banks 2010 financials Dr Kimei said despite the challenges the bank faced during the period under review it has managed to increase its assets from 1.854trn/- in 2009 to 2.305trn/- in 2010, which is an increase of 24 percent.
He said customer deposits increased by 25 per cent to 2.019trn/- up from 1.621trn/- in 2009.
Dr Kimei further said that loans grew by 18 per cent and reached 1.123trn/- last year.
He said that the banking industry in Tanzania has been undergoing major competitive changea among them, increasing number of banks some of which are subsidiaries of major international ones, improving technological innovations ATMs, mobile banking, internet banking etc, increasing competition for qualified employees, emergence of new lines of business mortgage finance, Islamic banking as well as financial advisory.
He mentioned other competitive changes as scale expansion, major banks investing in new branches, ATMs, banking systems, competition for payment system Credit cards, Debit Cards, prepaid cards, Money transfer and payment system by telecoms.
He said with increasing domestic competition, Tanzanian banks face greater pressure to focus on return on equity as a measure of performance.
SOURCE: THE GUARDIAN
CRDB Bank Managing Director Dr Charles Kimei revealed this on Tuesday in Dar es Salaam when presenting the Banks audited financial statements for the year 2010.
He said currently the bank has modified its ATMs to allow easy access of money by customers but the problem has been one of shortage of new bank notes.
We dont have enough new bank notes to put into our ATMs we have improved our system to match with the new series but we dont get the money, Kimei said.
Explaining on the banks 2010 financials Dr Kimei said despite the challenges the bank faced during the period under review it has managed to increase its assets from 1.854trn/- in 2009 to 2.305trn/- in 2010, which is an increase of 24 percent.
He said customer deposits increased by 25 per cent to 2.019trn/- up from 1.621trn/- in 2009.
Dr Kimei further said that loans grew by 18 per cent and reached 1.123trn/- last year.
He said that the banking industry in Tanzania has been undergoing major competitive changea among them, increasing number of banks some of which are subsidiaries of major international ones, improving technological innovations ATMs, mobile banking, internet banking etc, increasing competition for qualified employees, emergence of new lines of business mortgage finance, Islamic banking as well as financial advisory.
He mentioned other competitive changes as scale expansion, major banks investing in new branches, ATMs, banking systems, competition for payment system Credit cards, Debit Cards, prepaid cards, Money transfer and payment system by telecoms.
He said with increasing domestic competition, Tanzanian banks face greater pressure to focus on return on equity as a measure of performance.
SOURCE: THE GUARDIAN
