Centenary Bank Registers Growth In 2020 Amid Covid Crisis

Posted by: Suubi Anne in Business May 5, 2021

Centenary Bank registers a 26% growth in its previous financial year amid covid crisis. It attached this to the increased customer deposits and investments.According to it’s financial statements for the year ending December 31st, 2020, the total assets grew to Shs 4.49 trillion from Shs 3.57 trillion in 2019.

The bank saw it self crossing the Shs 4 trillion mark since the bank was established.

The managing director of Centenary bank, Fabian Kasi, attributed this growth to customer deposits that were aided by the increased use of financial technology.

“Our overall performance and position in the banking industry, depicts our resolve in continuously
delivering value to our customers and all other stakeholders. We leveraged on technology, people and
strong rooted relationships, to deliver good performance, despite the year’s challenging operating
environment”.

Fabian even promised that they will continue to deliver the beat services to their customers in the coming years.

“As a Bank, we shall continuously strive to deliver tailor-made and innovative products and services
for our customers, with support of our improved systems and outlets. As the future is digital led, we shall continue to ensure increased efficiency in our operations using technology while having a balanced human interface with our customers,” Kasi said.

Well, looks like business was not all bad for everyone. Some people have reaped from the Covid crisis more than we think.

Obviously even the advancement in technology has played a big role in the growth of so many businesses. People are no longer interest in the traditional way of running day to day life.

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