Wednesday, October 11, 2017

CRDB safest bank in TZ, reveals ‘Global Finance’


By Citizen Reporter @TheCitizenTz

Dar es Salaam. A respected American magazine has ranked CRDB as the safest bank in Tanzania, thanks to its sound asset base and foreign currency position.

Information, gathered in Dar es Salaam yesterday, shows that the New York-based Global Finance has named CRDB as so in its list of Safest Banks in 106 countries around the world as part of an exclusive survey to be published in the magazine’s November 2017 issue.

“The banks were selected through an evaluation of long-term foreign currency ratings - from Moody’s, Standard & Poor’s and Fitch - and total assets of the 1,000 largest banks worldwide,” it said in a statement yesterday.

Founded 30 years ago, Global Finance, has a circulation of 50,000 copies and readers in 193 countries.

Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. In Sub Saharan Africa, CRDB was ranked alongside Banco Angolano de Investimentos of Angola, Rawbank of the Democratic Republic of Congo, GCB Bank of Ghana, Stanbic Bank of Kenya, Zenith Bank of Nigeria, Standard Bank of South Africa and Ecobank of Togo.

“Despite efforts to harmonise financial rules across regions and around the world, regulations remain unique to each country, due to its particular risks and resources. For banks operating across borders, the challenge is to respond to those individual situations while offering a consistent experience for the corporate clients that also operate in a number of different jurisdictions,” said Global Finance publisher and editorial director Joseph Giarraputo.