Crane Bank
Crane Bank is the hands-down winner of the award for Uganda this year following the implementation of an incredibly successful retail strategy in 2002. A reasonably strong performance last year was also a major factor in the judges’ decision.
The strategy, called “Crane access”, chiefly involved the installation of cash machines in Uganda’s capital Kampala and in two other major towns. Crane Bank has already installed 24 of the machines – more than any other Ugandan bank – and plans to raise that number to 30 by the end of 2002. The cash machines have improved the quality of life for many Ugandans. For some, they are only banking service facilities available in the area.
The bank had a strong performance last year, raising net profit by 20% in 2002 compared with 5% in 2001 and achieving an ROE of 65.7%.
“In a country that has successfully overcome the problems of its past, Crane Bank is a business that continues to be a force to be reckoned with,” said Robert Warlow, the bank’s managing director.
