The National Board of Accountants and Auditors (NBAA) presented CRDB Bank Plc with the award during its Annual General Meeting (AGM) which was held in Zanzibar.
CRDB Bank Plc said in a statement yesterday that the awards were presented by Minister of State in the President’s Office (Zanzibar) Jamal Kassim Ali who commended the lender for the honour.
“The award shows the lender’s proven competence in the presentation of financial statements in line with national and international standards,” said Mr Ali in a press statement seen by The Citizen yesterday.
He went on saying: “This award is a reflection of the investment in modern systems that not only increase efficiency, but also enhance your stakeholders to get standard information.”
He urged other institutions to borrow a leaf from CRDB, saying the bank’s achievement was an indication of good governance.
CRDB Chief Financial Officer Fredrick Nsekanabo attributed the bank’s handsome performance to a good leadership system which respects principles of good governance, professionalism, transparency, accountability and integrity.
“In the past three years we have made massive investment in our digital systems. It is on that ground that we have been doing well in preparation of financial statements,” he said.
Mr Nsekanabo said bagging the award for the third consecutive year is a catalyst for the bank to do even better.
NBAA executive director Pius Maneno said CRDB emerged the winner after meeting the set criteria by over 90 percent.
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