Turn crisis into opportunity â€" bankers told

Jul 19, 2009

THE banking sector has been urged to devise ways of surviving and sustaining their clients during the current global economic crisis.

By Alex Balimwikungu

THE banking sector has been urged to devise ways of surviving and sustaining their clients during the current global economic crisis.

The call was made by the Deloitte and Touche East African chief, Sammy Onyango, while meeting clients at the Kampala Sheraton Hotel recently.

Deloitte and Touche is an international accounting and consultancy firm.

“There is need for the banking sector to prepare for any down-turn like the credit crunch or the arrival of new competitors,” he said.

Onyango noted that the best way to do this was through enhancing operating income, expenses, capital and expectations.

“The economic events of 2008 proved worse than the predictions of most economists and it is the role of business entities, especially banks, to maintain the confidence of the customers,” he said.

The meeting was aimed at sensitising the banking sector on the need for novel strategies to enhance growth and customer satisfaction.

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