Monday, July 4, 2011

EAC Regional bank ups profitability

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By Patrick Kagenda

Established in 1967 under the treaty of the then East African Cooperation, the East
African Development Bank (EADB) has survived the ups and downs of the region.

The 44 year old regional bank last week announced it had returned to profitability after posting a 19 per cent growth in profitability for the full year ended December 31 2010.

The bank posted a profit of $2.2 million in 2010 up from $1.85 million posted in 2009 marking its second straight year of

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