CRDB BANK has emerged as a standout in the awards presented by the National Board of Accounting and Auditing (NBAA) as the leading financial institution for submitting the best Financial Report for the year 2018/2019 in line with international standards.
Presenting the award, Dr. Mwamwaja commended CRDB Bank for continuing to adhere to national and international standards in the preparation of its financial statements.
Dr. Mwamaja elaborated compiling the annual reports of Public Bodies and Institutions at international standards gives the public the opportunity to measure the effectiveness of the performance of the respective institutions, to see how they are responsible in the use of resources.
“Congratulations to CRDB Bank for emerging as a beacon in the financial institutions, this shows how the Bank has invested in modern customer service systems but also facilitated access to quality information,” said Dr. Mwamwaja.
Commenting on the victory, CRDB Bank’s Chief Financial Officer, Fredrick Nsekanabo, said CRDB Bank recognizes the importance of preparing financial statements through systems that comply with national and international standards. He said the act of receiving the award makes the bank continue to increase its efforts to remain in the position.
“We have made significant investments in digital systems that include improving our data collection and processing systems. We have also been able to integrate our financial reporting system with the International Financial Reporting System (IFRS), which has also contributed to our Bank being better, ”stated Nshekanabo.
Nshekanabo noted that the victory was also due to the Bank having a good leadership system based on professionalism, transparency of financial statements, accountability and high level of data integrity.
NBAA CEO Mr. Pius Maneno, said CRDB Bank has emerged as the top performer after meeting all the criteria set by the institution by more than 75 percent. In 2019 61 institutions competed in the NBAA awards which included 13 components.