The Observer<\/a> (Kampala)<\/p>\nJoseph Kimbowa<\/p>\n
7 December 2011<\/p>\n
\nThe Banker magazine, a publication of the Financial Times in the United Kingdom has awarded Crane bank the prestigious Bank of the Year award.<\/p>\n
The bank’s management said the award represents the growth in the bank, and its commitment to offer tailor-made services for its customers.<\/p>\n
“Crane bank has not only been extremely successful in bringing a large number of the unbanked population into the mainstream banking, but also led to the growth in the lending portfolio, by seventy percent year on year”, said A.R Kalan, the bank’s managing director.<\/p>\n
Kalan added that the bank’s innovativeness and improved technology have seen the bank rise above the rest.<\/p>\n
“For small businesses, we structured loan repayments to suit their cash flow patterns, and also developed tailor-made solutions and products targeted to small businesses”, said Kalan.<\/p>\n
Crane bank has been instrumental in offering trade finance products in a bid to support traders using their stock as collateral. This was done through opening branches in Kireka, Nakivubo, Kikuubo, Kisekka market, Kyambogo and industrial area – areas which are known for small business operations.<\/p>\n
This is the seventh time the bank is winning this award after winning it in 2003, 2005, 2006, 2007, 2008 and 2009. They also previously won the Euromoney award in 2008.<\/p>\n
Crane bank currently has 15 branches, and plans to have 50 by 2015.<\/p>\n
AllAfrica – All the Time<\/p>\n
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