CRDB Bank

CRDB Bank Plc is a commercial bank in Tanzania. It licensed by the Bank of Tanzania, the central bank and national banking regulator.[2]

CRDB Bank
Public
Traded asDSE:: CRDB
IndustryFinancial Services
Founded1996 (1996)
HeadquartersAzikiwe Street, Posta, Dar es Salaam, Tanzania
Key people
Ally Laay
Chairman[1]
Abdulmajid Nsekela
Managing Director[1]
ProductsSavings products, Loan products, Trade Finance, Investments, Treasury products, Credit Cards, Mortgages, Microfinance products, Agency Banking services, Premier Banking services , E-banking products, Mobile Banking services
RevenueAftertax:TZS:64.132 billion (US$ 27,844,737.49) (2018)
Total assetsTotal Assets of TZS 6.0 Trillion and Total Deposits of TZS 4.7 Trillion as at 31st December 2018
Number of employees
More than 3,000 (2019)
WebsiteBank website

Background

CRDB Bank Plc is a largest, wholly owned private universal bank in Tanzania. The Bank was established in 1996 as a result of Tanzanian Government privatization of state owned firms. The major shareholders of the Bank are Denmark Government sponsored fund, leading Tanzania pension funds, IFC, CDC and FGG.

Location

The headquarters and main branch of the bank are located on the 3rd Floor, in the CRDB Bank Headquarters Building, along Azikiwe Street, in Dar es Salaam, the financial capital and largest city in Tanzania.[3] The geographical coordinates of the bank's headquarters are:06°48'53.5"S, 39°17'15.5"E (Latitude:-6.814861; Longitude:39.287639).[4]

Ownership

CRDB Bank is a publicly listed company on the Dar es Salaam stock exchange[5] owned by individuals, private and government institutions as per the following share-holding structure;[6]

CRDB Bank Plc Shareholding Structure as at 30 June 2019
S/N NAME SHARES %AGE
Above 10%
1. DANIDA INVESTMENT FUND 548067648 21
2. PSSSF PENSION FUND 346761028 13.3
Sub Total 894,828,676 34.3
Above 1% and less than 10%
3. CDC GROUP PLC / INTERNATIONAL FINANCE CORPORATION / JPMCB FBO AFRICA CAPITALIZATION FUND LTD 130,692,741 5.0
4. KIMBERLITE FRONTIER MASTER AFRICA FUND LP RCKM 113,050,049 4.3
5. AUNALI F RAJABALI AND SAJJAD F RAJABALI 101,999,999 3.9
6. NATIONAL SOCIAL SECURITY FUND - UGANDA 100,000,000 3.8
7. DUET AFRICA OPPORTUNITIES MASTER FUND IC 37,583,840 1.4
8. HANS AINGAYA MACHA 32,764,200 1.3
9. NATIONAL HEALTH INSURANCE FUND (NHIF) - TANZANIA 32,040,040 1.2
10. WESTERN ZONE TOBACCO GROWERS COOPERATIVE UNION LTD (WETCU) 30,000,000 1.1
11. CMG INVESTMENT LIMITED 29,330,971 1.1
12. CHANGE GLOBAL FRONTIER MARKETS,LP FUND- CGPA 28,730,740 1.1
13. MEHAR SINGH VIRDI 25,214,028 1.0
Sub Total 661,406,608 25.3
Less than 1%
14. More than 28,000 shareholders 1,055,603,300 40.4
Grand Total 2,611,838,584 100.0

Structure and Operating Network

CRDB Bank as a group comprises three subsidiaries namely CRDB Microfinance Ltd that deals with Microfinance business, CRDB Insurance broker that offers a range of insurance services and/or products and the CRDB Bank Burundi Ltd,[7] which is the first overseas subsidiary in the neighboring country of Burundi a part of the Regional Expansion plan in East Africa.

Internally, CRDB Bank has 234 branches, 535 ATMs (spread across the country), 15 Mobile branches, 490 Microfinance partners’ institutions, over 8,000 CRDB Wakala, over 1,500 merchants with sales terminals (PoS), internet and mobile banking facilities.

Financial Strength

On the basis of its financial strength, the Bank has been selected a friendly partner by all major International financial institutions such as International Financial Corporation (IFC), KFW-DBG, Germany, CDC-UK and African Development Bank. In 2016, CRDB Bank became the first bank in Tanzania to be rated among the top ten stable and safer to invest African banks by the world's most respected rating agency, Moody's Investors Services. Moody's rated CRDB Bank with a “B1 stable outlook” [8] which is the highest rating to have been acquired by banks or financial institutions in sub Saharan Africa.

CRDB Bank also possesses a healthy balance sheet with Total Assets of TZS 6.0 Trillion and Total Deposits of TZS 4.7 Trillion as at 31 December 2018.[9]  With a robust technology backbone and 3,101 personnel, CRDB Bank offers its customers a reliable and trusted partner for major financial investment dealings in Tanzania and Burundi.

See also
  1. List of banks in Tanzania
  2. Microfinance in Tanzania

References
  1. CRDB Bank (29 March 2018). "Audited Financial Statements for the Year Ended 31 December 2016" (PDF). Dar es Salaam: CRDB Bank Limited. Retrieved 10 May 2018.
  2. Bank of Tanzania (30 June 2017). "Directory of Banks and Financial Institutions Operating in Tanzania as at 30th June 2017" (PDF). Dar es Salaam: Bank of Tanzania. Retrieved 10 May 2018.
  3. Commonwealth of Nations Organisation (10 May 2018). "The Headquarters of CRDB Bank Public Limited Company". Cambridge, United Kingdom: Commonwealthofnations.org. Retrieved 10 May 2018.
  4. Google (10 May 2018). "Location of the Headquarters of CRDB Bank, Azikiwe Street, Dar es Salaam" (Map). Google Maps. Google. Retrieved 10 May 2018.
  5. "Listed Companies" (PDF). https://www.dse.co.tz. Dar es Salaam: DSE Tanzania. 1 November 2019. Retrieved 1 November 2019. External link in |website= (help)
  6. "Shareholding structure". crdbbank.co.tz. Retrieved 1 November 2019.
  7. "CRDB Bank Burundi". crdbbank.co.bi. Retrieved 1 November 2019.
  8. "CRDB gets Moody's stable rating status". The Citizen. Retrieved 1 November 2019.
  9. "CRDB Bank Annual Report, 2019" (PDF). crdbbank.co.tz. Retrieved 1 November 2019.

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