KCBL scoops award for best presented financial statements 

05Dec 2023
The Guardian Reporter
News
The Guardian
KCBL scoops award for best presented financial statements 

THE Kilimanjaro Cooperative Bank Limited (KCBL) has emerged the first winner in the best presented financial statements awards for the year 2022, category of financial institutions.

The awards which are organised annually by the National Board of Accountants and Auditors (NBAA), showed that the bank's winning, based on books prepared by adhering to the financial systems of International Public Sector Accounting Standards (IPSAS) and TFRS 1-Tanzania Financial Reporting Standard.

Speaking soon after receiving the award in Dar es Salaam at the weekend, KCBL General Manager, Godfrey Ng’urah said that the bank has achieved great success in the past three years and that the award gives them more courage to continue working hard and efficiently to serve its customers.

“We thank our shareholders and customers for trusting the bank despite negative records it had in previous year, we assure them of continued creativity and good governance to continue serving our customers with attractive services,” he said.

He dedicated the award to the members of cooperative unions and KCBL staff for their commitment and endless support.

He also informed that KCBL shareholders have approved the required changes to pave way for establishment of the National Cooperative Bank which is going to transformation of cooperatives in the country.

He said the shareholders at the 26th Annual General Meeting (AGM) held mid this year,also, approved the merger between KCBL and Mtwara-based Tandahimba Community Bank (TACOBA) in a bid to establish the envisaged national cooperative bank.

He said that the approval of both changes and merging geared at paving way for establishment of the pro coop bank that has national interest in serving cooperative unions in the country.

Ng'urah further said that the bank through its staff will continue serving people adhering in fairness, confidentiality, reliability and transparency to the customer and values that are embedded to all bank employees.

“We will continue to enlighten and enhance satisfaction to our customers and their businesses, which ought to prosper and hence promote stability and growth to the stakeholders of the organization at large,” he added.

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