CERUDEB Deposits Reach 115.8 Billion
Mar 14, 2004
The board chairman of Centenary Rural Development Bank (CERUDEB), Dr. John Dumba, has said the bank has assets worth sh145.5b and deposits amounting to sh115.8b.
The board chairman of Centenary Rural Development Bank (CERUDEB), Dr. John Dumba, has said the bank has assets worth sh145.5b and deposits amounting to sh115.8b.
Charles Bwogi reports that Dumba said between 1999 and 2003, deposits increased from sh40.5b to 115.8billion.
He said that was an increase of 186% and the clients rose to 400,000 making it the second largest bank in terms of customers.
Dumba said the bank has a loan portfolio of sh66.4b and most of its loans are geared towards helping the poor and groups normally neglected by the formal banking sector.
“We are the only bank with a detailed involvement in the agricultural sector with more than 6,000 loans to agricultural clients by 31 December 2003,†he said.
Dumba said the bank has over sh1.2b spread over 150 education institutions.
Meanwhile, the bank has spent close to $5m to fully computerise its operations. Dumba said the new system had made it possible for the bank’s clients to access their accounts from any CERUDEB branch.
Ends
Charles Bwogi reports that Dumba said between 1999 and 2003, deposits increased from sh40.5b to 115.8billion.
He said that was an increase of 186% and the clients rose to 400,000 making it the second largest bank in terms of customers.
Dumba said the bank has a loan portfolio of sh66.4b and most of its loans are geared towards helping the poor and groups normally neglected by the formal banking sector.
“We are the only bank with a detailed involvement in the agricultural sector with more than 6,000 loans to agricultural clients by 31 December 2003,†he said.
Dumba said the bank has over sh1.2b spread over 150 education institutions.
Meanwhile, the bank has spent close to $5m to fully computerise its operations. Dumba said the new system had made it possible for the bank’s clients to access their accounts from any CERUDEB branch.
Ends