CRDB Bank

CRDB Bank
Public
Traded as DSE: CRDB
Industry Financial Services
Founded 1996
Headquarters Dar es Salaam, Tanzania
Key people
 Charles Kimei
Managing director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax: US$50.51 million (TZS:84.4 billion) (2013)
Total assets US$2.154 billion (TZS:3.6 trillion) (2013)
Number of employees
 2,144+ (2013)
Website Homepage

CRDB Bank Plc is a commercial bank in Tanzania. It licensed by the Bank of Tanzania, the central bank and national banking regulator.[1]

Overview

The bank provides commercial banking services to individuals, small-to-medium-sized businesses, and large corporations. As of December 2013, CRDB Bank's total assets were valued at approximately US$2.154 billion (TZS:3.6 trillion).[2]

In September 2013, the bank's shareholders' equity stood at about US$223.6 million (TZS:335 billion). At that time, CRDB Bank was the second-largest commercial bank in Tanzania, by assets, behind FBME Bank. It was also the second-best capitalized commercial bank, behind National Microfinance Bank.[3] The shares of stock of CRDB Bank are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol "CRDB".[4]

History

CRDB Bank was formed when the former Cooperative Rural Development Bank, which had been wholly government-owned, was privatized, recapitalized, and restructured. DANIDA played a significant role in re-structuring the new institution and is a part owner of the new bank.[5]

Ownership

As of December 2011, the stock of CRDB Bank was owned by the following institutions and individuals:[6]

CRDB Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1More Than 20,800 Investors Owning Less Than 1% Each47.2
2Danish International Development Agency21.5
3Blakeney General Partners III2.5
4Aunali Rajabali & Sajjad Rajabali2.3
5Tanzania Local Government Pension Fund2.2
6Altree Custody Services Limited2.2
7Pinebridge1.8
8Western Zone Tobacco Growers Cooperative Union Limited1.7
9Pictet And CIE A/C General Partners IV Limited1.6
10Tanzania Public Service Pension Fund1.4
11CMG Investment Limited1.4
12Epack Investment Funds Limited1.1
13Hans Macha1.1
14Lindi Development Fund1.0
15Pictet And CIE A/C Patrick Schegg1.0
TOTAL100.0

Branch network

As of November 2014, CRDB Bank had a network of 118 fixed branches, 13 mobile branches, 984 point of sales (POS) terminals, and 335 automated teller machines, in all regions of Tanzania.

Regional expansion

In early 2009, the bank announced plans to enter neighboring countries by establishing subsidiaries in Kenya, Uganda, Rwanda, and Burundi.[7] In November 2011, Tanzanian press reports indicated that CRDB Bank planned to cross-list on the NSE and on the Uganda Securities Exchange (USE).[8]

In December 2012, CRDB Bank established its first foreign subsidiary, CRDB Bank Burundi S.A., by opening a branch in Bujumbura, the capital of Burundi.[9][10][11]

See also

References

  1. ↑ "Directory of Commercial Bans Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 12 November 2014.
  2. ↑ Mrindoko, Sebastian (3 April 2014). "CRDB Bank Announces Superb Profit". Tanzania Daily News (Dar es Salaam). Archived from the original on 13 November 2014. Retrieved 12 November 2014.
  3. ↑ Times, Reporter (13 December 2013). "Tanzania: Banks' Total Assets Fell In Third Quarter 2013". Tanzania Business Times (Dar es Salaam). Retrieved 12 November 2014.
  4. ↑ J. B. Rugambo (CRDB Bank Company Secretary) (2 April 2014). "CRDB – Declaration of Dividend for The Year 2013". Dar es Salaam Stock Exchange (DSE). Retrieved 12 November 2014.
  5. ↑ CRDB. "Profile & History of CRDB Bank". CRDB Bank Plc. Check date values in: |access-date= (help);
  6. ↑ CRDB. "Shareholding In CRDB Bank At 31 December 2013". CRDB Bank. Retrieved 12 November 2012.
  7. ↑ Edwin, Wilfred (14 February 2014). "CRDB Bank Plans To Spread To East African Market". The East African (Nairobi).
  8. ↑ Karega, Victor (24 November 2011). "East Africa: CRDB Bank to Cross-List to EA Stock Markets". The Citizen, Tanzania (Dar es Salaam) via AllAfrica.com. Retrieved 13 November 2014.
  9. ↑ "About Us". CRDB Bank. Retrieved 22 November 2016.
  10. ↑ Sotunde, Oluwabusayo (3 August 2012). "Tanzania's CRDB Bank To Begin Operations In Burundi". Africa Ventures Magazine (Lagos). Retrieved 13 November 2014.
  11. ↑ Miriri, Duncan (7 December 2012). "Tanzania's CRDB Bank Starts Operations In Burundi". Reuters. Retrieved 13 November 2014.

External links

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