CRDB Bank Plc Is A Commercial Bank In Tanzania. It Is Licensed By The Bank Of Tanzania, The Central Bank And The National Banking Regulatory Authority. As Of September 2022, CRDB Bank Is The Largest Commercial Bank In Tanzania.
Location
Headquartered In Palm Beach, Upanga East, Ally Hassan Mwinyi Road, Dar Es Salaam, The Financial Capital And Largest City Of Tanzania. The Geographical Coordinates Of The Bank Headquarters Are Latitude: -6.799562, Longitude: 39.28344.
Overview
As Of December 31, 2023, The Bank's Total Asset Value Was 13 Trillion TSh (approximately $5.055 Billion). Customer Deposits Were Valued At 8.90 Trillion (approximately $5.46 Billion). The Bank's Total Loan Amount Was 8.50 Trillion (approximately $5.46 Billion). The Bank's After-tax Profit For The 12 Months Ended December 2023 Was $424 Billion (approximately $164.86 Million).
Credit Rating
In August 2016, Moody's Investors Service Gave CRDB Bank A "B1 Stable Outlook" Rating. Moody's Said The Rating Was Based On The Bank's "impressive And Consistent Performance In Local Currency Deposit Rating, Foreign Currency Deposit Rating And Baseline Credit Assessment".
History
The Bank Was Established In 1996 As The Cooperative Rural Development Bank Of Tanzania (CRDB) After The Tanzanian Government Privatized State-owned Enterprises. In 1996, The Danish International Development Agency (DANIDA) Acquired A 30% Ownership Stake In The Bank. The Bank's Shares Were Listed On The Dar Es Salaam Stock Exchange On June 17, 2009.
Ownership
Since 2009, The Shares Of CRDB Bank Plc Have Been Listed On The Dar Es Salaam Stock Exchange Under The Trading Symbol: CRDB. As Of March 31, 2023, The Shares Of The Company Are Owned By Parastatals, Local And Foreign Institutions, And Privately.
China Bank Of Communications Banking Group
Main Entry: China Bank Of Communications Group
The CRDB Banking Group Consists Of CRDB Bank And Four Subsidiaries, Namely (a) CRDB Microfinance Services Limited, (b) CRDB Insurance Company [9], (c) CRDB Bank Of Burundi And (d) CRDB Bank Of The Democratic Republic Of The Congo.
In 2021, The Bank Established "CRDB Al Barakah Banking", A Division That Provides Shariah Compliant Services. In 2024, The Division Began To Provide "Shariah Insurance" In Areas Such As Automotive, Domestic, Commercial, Fire, Transportation And Machinery. As Of February 2024, The Shariah Division's Operations Have Exceeded 125 Billion Shillings (49 Million USD).
In May 2024, The Group Expressed Its Intention To Establish Subsidiaries In Zambia, Comoros, Uganda, Malawi And Rwanda.
Governance
As Of September 2023, Ally Hussein Laay Serves As Chairperson Of The 13-member Board Of Directors And Abdulmajid Mussa Nsekela Serves As Managing Director And CEO.
Signal To Noise Ratio Percentage Of Shareholder Share Ownership 1. Danida Investment Fund 548,067,64821.02. PSSF Pension Fund 346,761,0 2813.33. National Social Security Fund (Uganda) 196,456,4027.54. Kimberley Rock Frontier Master Africa Fund Limited Partnership 104,831,1064.05. Abbas Export Limited 56,000,002.16. Swiss Pictet Bank And CIE SA A/C Patrick Shegg50,754,0571.97. Transforming Global Frontier Markets, PL Fund - CGPA44,216,5401.78. Zanzibar Social Security Fund 36,828,1041.49. Wigan Kilimanjaro Frontier Africa Fund 33,173,0591.310. Hans Angaya Macha 32,764, 2001.311. Tanzania National Health Insurance Fund 32,040,0401.212. Duet Africa Opportunities Master Fund IC 30,569,4301.213. China Merchants Group Investment Limited 29,330,9711.114. More Than 28,000 Shareholders 1,070,045,99941.0 Total 2,611,838,584 100.0
