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 | ![]() |
Total assets | TZS11.637 trillion (approx. US$:4.663 billion) (2022)[1] |
Number of employees | 3,729 (2022)[1] |
Website | Bank website |
CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.[2] As of September 2022, CRDB Bank was the largest commercial bank in Tanzania.[3]
The headquarters are located at Palm Beach, Upanga East, Ally Hassan Mwinyi Road in Dar es Salaam, the financial capital and largest city in Tanzania.[4] The geographical coordinates of the bank's headquarters at Latitude:-6.799562, Longitude:39.28344.[5]
As of 31 December 2022, the bank's total assets were valued at TSh:11.637 trillion (approx. US$:4.663 billion), with shareholders' equity worth TSh:1.479 trillion (approx. US$592.669 million). At that time the institution employed 3,729 staff members.[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. | Danish International Development Agency | 548,067,648 | 21.0
|
2. | PSSSF Pension Fund | 346,761,028 | 13.3
|
3. | NSSF Uganda | 196,456,402 | 7.5
|
4. | Kimberlite Frontier Master Africa Fund LP RCKM | 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 | 1.2
|
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]
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.[11]