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CRDB Bank

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CRDB Bank
Company typePublic
DSE: CRDB
IndustryFinancial Services
Founded1996
HeadquartersDar es Salaam, Tanzania
Key people
Charles Kimei
Managing director
ProductsLoans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
RevenueIncreaseAftertax: US$50.51 million (TZS:84.4 billion) (2013)
Total assetsUS$2.154 billion (TZS:3.6 trillion) (2013)
Number of employees
2,144+ (2013)
WebsiteHomepage

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 Owner Percentage Ownership
1 More Than 20,800 Investors Owning Less Than 1% Each 47.2
2 Danish International Development Agency 21.5
3 Blakeney General Partners III 2.5
4 Aunali Rajabali & Sajjad Rajabali 2.3
5 Tanzania Local Government Pension Fund 2.2
6 Altree Custody Services Limited 2.2
7 Pinebridge 1.8
8 Western Zone Tobacco Growers Cooperative Union Limited 1.7
9 Pictet And CIE A/C General Partners IV Limited 1.6
10 Tanzania Public Service Pension Fund 1.4
11 CMG Investment Limited 1.4
12 Epack Investment Funds Limited 1.1
13 Hans Macha 1.1
14 Lindi Development Fund 1.0
15 Pictet And CIE A/C Patrick Schegg 1.0
TOTAL 100.0

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.[citation needed]

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. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  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. {{cite web}}: |access-date= requires |url= (help); Check date values in: |accessdate= (help); Missing or empty |url= (help); Missing pipe in: |accessdate= (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.
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