Company type | Public |
---|---|
DSE: CRDB | |
Industry | Financial services |
Founded | 1996 |
Headquarters | Ally Hassan Mwinyi Road, Dar es Salaam, Tanzania |
Key people | Ally Hussein Laay Chairman Abdulmajid Mussa Nsekela Managing Director |
Products | Savings products, Loans, Trade Finance, Investments, Treasury products, Credit Cards, Mortgages, Microfinance products, Agency Banking services, Premier Banking services, E-banking products, Insurance, |
Revenue | Aftertax:TZS424 billion (approx. US$:164.86 million) (2023) [1] |
Total assets | TZS13 trillion (approx. US$:5.055 billion) (2024) [1] |
Number of employees | 3,729 (2022) |
Website | Bank website |
CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. [2] As of September 2022, CRDB Bank was the largest commercial bank in Tanzania. [3]
The headquarters are located at Palm Beach, Upanga East, Ally Hassan Mwinyi Road in Dar es Salaam, the financial capital and largest city in Tanzania. [4] The geographical coordinates of the bank's headquarters at Latitude:-6.799562, Longitude:39.28344. [5]
As of 31 December 2023, the bank's total assets were valued at TSh:13 trillion (approx. US$:5.055 billion). Customer deposits were valued at TSh:8.9 trillion (approx. US$:5.46 billion). The bank's loan book totaled TSh:8.5 trillion (approx. US$:5.46 billion). In the 12 months ended December 2023, the bank's after-tax profit was TSh:424 billion (approx. US$:164.86 million). [1]
In August 2016, Moody's Investors Services gave CRDB Bank a "B1 stable outlook" rating. Moody's said it based this rating on the bank's "impressive and consistent performances in local currency deposit ratings, foreign currency deposit ratings and baseline credit assessment". [6]
The bank was founded in 1996, as Cooperative Rural Development Bank (CRDB) of Tanzania, following the privatization of state-owned firms by the Tanzanian government. In 1996 the Danish International Development Agency (DANIDA) acquired a 30 percent ownership stake in the bank. The shares of stock of the bank were listed on the Dar es Salaam Stock Exchange on 17 June 2009. [7]
Since 2009, the shares of stock of CRDB Bank Plc are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol: CRDB. As of 31 March 2023, the shares of company stock were owned by parastatal companies, local and foreign institutions together with private individuals. [8]
S/N | Shareholder | Shares | % Ownership |
---|---|---|---|
1. | Danida Investment Fund | 548,067,648 | 21.0 |
2. | PSSF Pension Fund | 346,761,028 | 13.3 |
3. | National Social Security Fund (Uganda) | 196,456,402 | 7.5 |
4. | Kimberlite Frontier Master Africa Fund LP | 104,831,106 | 4.0 |
5. | Abbas Export Limited | 56,000,000 | 2.1 |
6. | Banque Pictet and CIE SA A/C Patrick Shegg | 50,754,057 | 1.9 |
7. | Change Global Frontier Market, PL Fund-CGPA | 44,216,540 | 1.7 |
8. | Zanzibar Social Security Fund | 36,828,104 | 1.4 |
9. | Wegen Kilimanjaro Frontier Africa Fund | 33,173,059 | 1.3 |
10. | Hans Aingaya Macha | 32,764,200 | 1.3 |
11. | National Health Insurance Fund - Tanzania | 32,040,040 | 1.2 |
12. | Duet Africa Opportunities Master Fund IC | 30,569,430 | 1.2 |
13. | CMG Investment Limited | 29,330,971 | 1.1 |
14. | More than 28,000 shareholders | 1,070,045,999 | 41.0 |
Grand Total | 2,611,838,584 | 100.0 |
The CRDB Bank Group comprises CRDB Bank Plc and four subsidiaries namely (a) CRDB Microfinance Services Limited (b) CRDB Insurance Company [9] (c) CRDB Bank Burundi and (d) CRDB Bank DR Congo. [10]
In 2021 the bank established "CRDB Al Barakah Banking", a unit that offers Shariah-compliant services. In 2024, that unit started offering "Takaful Insurance" in the sectors of automobile, home, business, fire, transportation and machinery. As of February 2024, the Sharia unit had generated business in excess of TSh125 billion (US$49 million). [11]
As of September 2023 [update] , Ally Hussein Laay served as the chairman of the thirteen-person board of directors and Abdulmajid Mussa Nsekela was the managing director and chief executive officer. [12]
Micro financing in Tanzania started in 1995 with SACCOS and NGOs. It has since then contributed to the increasing success of international micro financing. Microfinance stills remains a relatively new in Tanzania since it has not penetrated yet. Since 1995, microfinance has been linked to poverty alleviation programs and women. The government made efforts to ensure commercial banks have continued to provide financial support to the small entrepreneurial business. However a microfinance National Policy was implemented in 2002 to encourage and support microfinances in the country. Since the implementation, micro financing was officially launched and recognized as a poverty alleviation tool. Due to its increase exposure and use in the nation, commercial banks have developed interests in to offer microfinance. There are various microfinance banks that functions as supporting institutions in the country that usually provide microfinance services. These may include the CRDB, National Microfinance Bank, and AKIBA. However there are also other few banks that are concerned with micro financing in Tanzania such as the PRIDE and SEDA, Tanzania Postal Bank and FINCA. Community and small banks have also expressed interest in the same including the NGOs and other non-profit organizations.
Tanga Cement Public Limited Company is a cement manufacturing company in Tanzania. Its shares of stock are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol TCCL.
National Bank of Commerce (Tanzania), whose full name is National Bank of Commerce (Tanzania) Limited, sometimes referred to as NBC (Tanzania), or as NBC (Tanzania) Limited, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the country's central bank and the national banking regulator. In August 2019, the bank was fined TSh 1 billion (US$435,000) because of the failure to establish a data center in the East African nation.
NMB Bank Plc., is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Exim Bank (Tanzania) (EBT), is a commercial bank in Tanzania, the second-largest economy in the East African Community. The bank is licensed by the Bank of Tanzania, which is the country's central bank and national banking regulator.
Bank M was a commercial bank in Tanzania. It was licensed by the Bank of Tanzania, the country's central bank and national banking regulator, to engage in commercial banking.
Dar es Salaam Community Bank (DCB), whose official name is DCB Commercial Bank, but is commonly called DCB Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
NCBA Bank Tanzania Limited, is a merged bank between Commercial Bank of Africa (Tanzania) and NIC Bank Tanzania. It is a commercial bank in Tanzania licensed by the Bank of Tanzania, the central bank and national banking regulator.
Letshego Bank Tanzania Limited, commonly known as Letshego Bank is a commercial bank in Tanzania, licensed by Bank of Tanzania, the central bank and national banking regulator.
Equity Bank Tanzania Limited, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a member of the Equity Group Holdings Limited, a large financial services conglomerate, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, South Sudan, Tanzania, Uganda, Democratic Republic of the Congo and a representative office in Ethiopia.
Tanzania Women Bank Limited (TWBL) is a Tanzanian bank that specialises in providing financial services to women. It is listed as a "Registered Financial Institution" by the Bank of Tanzania, the central bank and national banking regulator.
Access Microfinance Bank Tanzania (AMBT), is a microfinance bank located in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Yetu Microfinance Bank Plc. (YETU) is a microfinance bank in Tanzania. It is the first microfinance institution to be listed in the Dar es Salaam Stock Exchange. Yetu is a Swahili word which means Ours.
Amana Bank is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Tanzania Commercial Bank, formerly known as TPB Bank Plc, is a commercial bank in Tanzania. It is licensed and supervised by the Bank of Tanzania, the central bank and national banking regulator.
Mwanga Hakika Bank (MHB), whose official name is Mwanga Hakika Bank Limited, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
CRDB Bank Burundi, also CRDB Bank Burundi S.A., is a commercial bank in Burundi. It is licensed and supervised by the Bank of the Republic of Burundi, the central bank and national banking regulator. The commercial bank was established on 7 December 2012, as a 100 percent subsidiary of CRDB Bank Plc, based in neighboring Tanzania.
The CRDB Bank Group, is a privately owned conglomerate in Tanzania. The anchor company in the group is CRDB Bank Plc., the largest commercial bank in Tanzania, based on assets. As of 31 December 2023 CRDB Bank had assets valued at TSh10.897 trillion.
CRDB Bank DR Congo, is a commercial bank in the Democratic Republic of the Congo. It is licensed by the Central Bank of the Congo, the central bank and national banking regulator. CRDB Bank DR Congo opened for business in Lumumbashi, Haut-Katanga Province on 10 July 2023.