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Frederick Siwale being assigned as CRDB Bank Plc’s Managing Director
Posted On 19 Mar 2021
By Abdul Rahman Bangura–
Photo Credit: CRDB Bank
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– CRDB Bank Plc’s Burundi associate now has Frederick Siwale as the new Managing Director of CRDB Bank Burundi.
Siwale (49), has fulfilled as Head of Global Markets in the Department of Treasury since December 2019, is superseding Bruce Mwile, who has been there of the since the establishment of the subsidiary in 2012.
Mwile presently oversees the Bank’s group-wide operations in the responsibility of Chief Operating Officer. CRDB Bank Plc’s group Chief Executive Officer – Abdulmajid Nsekela asserted, he was optimistic that Siwale had what it carried to effectively head the Burundi subsidiary.
Siwale has comprehensive aptitude and knowledge in capital markets and treasury management, branch operations, as well as banking operations. Having enlisted CRDB Bank in 2004 as a Customer Adviser in the Retail Department, Siwale intention saw him striding up the corporate ladder to be what he was today.
“ Siwale’s career progression is consistent with the Group’s strategic vision to expand leadership opportunities within the business and tap into the diverse knowledge, skillsets and talent(s) available within its young and dynamic workforce,” asserted Nsekela.
As Managing Director of CRDB Bank Burundi, his primary assignment will be to strengthen the subsidiary’s growth trajectory, which has been invariably thriving since it was stabilized nine years ago.
In 2019, CRDB Bank Burundi recorded a net profit of Sh6.2 billion, growing from Sh2.4 billion that was documented in 2018.Lin 2020, CRDB Bank Burundi’s after tax revenue plummeted to Sh11.2 billion, keep aloft largely by sustained undertakings to give clever financial services and offer flexibility to customers.
CRDB Bank has expedited its emphasis on regional growth and is nowadays glancing at enhancing its operations into serious, in Eastern Africa, targeting the Democratic Republic of Congo in 2021, amongst other potential markets, particularly nations with powerful trade ties with Tanzania. Siwale’s pact has already been ratified by regulators in both Tanzania and Burundi.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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