| Company type | Private Conglomerate |
|---|---|
| Industry | Financial services |
| Founded | 1996 |
| Headquarters | Dar es Salaam, Tanzania |
Key people | Abdulmajid Nsekela CRDB Group CEO and Managing Director |
| Products | Banking and Insurance |
| Website | Homepage |
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 (US$4.313 billion). [1]
As of December 2023, CRDB Bank Group was involved in financial services, insurance and the delivery of social services. As of 31 December 2023, the group's total assets were valued at TSh:13.264 trillion (approx. US$:5,254 billion), with shareholders' equity worth TSh:1.774 trillion (approx. US$705 million). At that time, CRDB Bank Group was the largest financial services conglomerate in Tanzania. [1]
The anchor company of this group started in 1996 as Cooperative and Rural Development Bank (CRDB). It subsequently shortened its name to CRDB Bank. On 17 June 2009 the bank listed its shares of stock on the Dar es Salaam Stock Exchange (DSE). [2]
In 2004, the bank established CRDB Microfinance Services Company (MFSC), a Tanzanian subsidiary active in the microfinance arena. MFSC does not lend directly but collaborates with "Savings and Credit Cooperative Societies (SACCOS), Savings and Credit Associations (SACAS), financial non-government organizations (NGOs), and Community Banks to disburse loans, provide technical support, and facilitate bank accounts". [3]
The bank group established its subsidiary in Burundi on 7 December 2012, as CRDB Bank Burundi, a commercial bank. [4] [5] In May 2023, CRDB Bank Group established CRDB Insurance Company, another subsidiary, active in Tanzania. [6]
In March 2022, the banking group declared ambitions to establish and/or acquire subsidiaries in Kenya, Uganda, Comoros, Malawi and Zambia. [7] In H2 2023, the group opened a banking subsidiary in Lubumbashi, the Democratic Republic of the Congo, CRDB Bank DR Congo. [8]
As of February 2024, the companies of the CRDB Bank Group included the following: [9]
The shares of stock of the group are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol: CRDB. [1] [2]
KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running Agency banking model.
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.
CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. As of September 2022, CRDB Bank was the largest commercial bank in Tanzania.
KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited.
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.
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.
Jubilee Holdings Limited is a financial services holding company, with its headquarters in Nairobi, Kenya. The company maintains subsidiaries in Kenya, Uganda, Tanzania, Burundi, and Mauritius. Its activities are mainly in the insurance sector.
Diamond Trust Bank Tanzania Plc (DTBT) is a commercial bank in Tanzania, licensed by the Bank of Tanzania.
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.
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.
International Commercial Bank Tanzania Limited(ICBT), is a commercial bank in Tanzania, the third-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's 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.
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.
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