CRDB Bank PLC Shareholders Approve TZS 17 Dividend Following a 35% Jump in Pre-tax Profit in FY 2015

Arusha Tanzania, May 21, 2016 - Tanzania’s leading bank, CRDB Bank PLC shareholders Saturday approved a dividend payment of TZS17.0 per share (36% increase from TZS 15.0 paid in year 2014) proposed by the board during the Annual General meeting (AGM) held in Arusha. The shareholders also retained Price Water-house Coopers (PWC) as the bank’s auditors for the FY 2016. This follows the bank’s impressive performance in the 2015 FY after it posted a TZS128.9 billion Net- profit - a 35% increase compared to the previous FY which stood at TZS95.6 Billion.

“CRDB Bank Plc Chairman of the Board of Directors Mr. Martin Mmari attributed the achievements to the several key factors including growth in customer base and distribution network and rise in the net interest income. “We are also focused on ensuring high shareholders return as reflected by earnings per share and partly by the dividend paid per share. We recommended a TZS 17.0 per share and I am happy to note that the same has been approved by the shareholders,” said Mr. Mmari.

“He added: “the total amount of dividend recommended is TZS 44.4 billion, as compared to TZS 19.6 billion paid out in 2014. This signals a strong and progressive growth in earnings per share (EPS) and dividends per share (DPS).”

CRDB Bank Managing Director, Dr Charles Kimei addressing the shareholders noted the Bank has witnessed an improved performance with significant growthin customer deposits especially from government institutions and a growing customer base as well as an increasing loan portfolio.

'‘During the year, we managed to open 40 government service centers after being awarded the tender for provision of banking services to many Local Government Authorities. We also made deliberate efforts in expansion of our delivery system and started an upgrade of our core banking system in order to enhance efficiency”

“Our interest income grew by 34% from TZS 371.7 billion in 2014 to TZS 497.4 billion contributed largely by the growth in the general loan portfolio. The net interest income grew by 29.7% from TZS 2,576 billion in the year 2014 to TZS 3,342” said Dr. Kimei. Our forex income grew up by 19% from TZS 29.3 billion in 2014 to TZS 34.9 recorded in 2015”.”

According to Dr. Kimei, during the year, the CRDB Bank group grew its assets by 28.4% from TZS 4.2 trillion in 2014 to 5.4 trillion in 2015, driven largely by the growth in the loan portfolio of 30%. While the Group`s deposits increased by 25% from TZS 3.4 trillion attained in 2014 to TZS 4.2 trillion realized in year 2015.

Speaking of the performance of the Bank`s Subsidiary companies of CRDB Bank Microfinance Ltd and CRDB Bank Burundi, Dr. Kimei said “In year 2015, the Group made some notable accomplishments in the subsidiaries. For the first time since being launched three years ago, our Burundi subsidiary recorded a profit of TZS 656 million after a break even while our Microfinance Subsidiary made a contribution of TZS 8,589 million to the profit of the group”.

Dr. Kimei maintained that the Bank’s venture into Burundi was a deliberate move to tap the growing business between Tanzania and the land-locked Burundi despite the ongoing political unrest. “Our Burundi subsidiary is experience steadfast growth in profit against despite the political situation in the country”. The profit realization was driven by several key factors including the increase in the fee and commission, operation system stability and growth in forex commissions and service charges. The total assets increased from TZS 103, 316 million in 2014 to TZS 152,654 in 2014. The total deposits mobilized increased from TZS 28.9 billion in 2014 to TZS 65.8 billion in 2015.” said Dr. Kimei.

Strategic focus for year 2016 and beyond


Speaking about the future, Dr. Kimei who is a seasonal banker with a PhD in Economics and finance stated the bank will focus on expansion of the network and sales optimization to maintain its position as a leading bank in Tanzania and beyond. “We will achieve these results by being more innovative and exploiting and aggressively executing on new business opportunities” he said. Dr. Kimei said that CRDB Bank will continue focus on achieving operational effectiveness and customer experience while maintaining its core business model. The Bank will emphasize on consolidating improvements made on credit risk management processes to further reduce the non performing loans (NPL) ratio to less than 5%.

“We will keep on investing our resources, time and expertise in improving our service delivery standards while constantly upgrading our alternative banking channels. CRDB Bank being a customer centric bank, will continue to offer quality products and services and ensure that banking with us is an ongoing enjoyable experience” said Dr. Kimei



CRDB Bank Plc is a leading, wholly-owned private commercial bank in Tanzania. The Bank was established in 1996 and has grown and prospered over the years to become the most innovative, first choice, and trusted bank in the country. CRDB Bank has been recording progressive profit every year since its foundation and has paid dividends annually. The Bank reached an important milestone recently and was listed on the Dar es Salaam Stock Exchange on 17th of June, 2009.

CRDB Bank offers a comprehensive range of Corporate, Retail, Business, Treasury, Premier, and wholesale microfinance services through a network of over 85 branches, 250 ATMs, 15 Depository ATMs, 12 Mobile branches, 900 Point of Sales (POS) terminals and scores of Microfinance partners’ institutions and 2,000 Fahari Huduma agents. The Bank also operates through Internet and Mobile banking services.

For More information, please contact:

Name Mobile Email
Tully Esther Mwambapa +255 769 200 600

This email address is being protected from spambots. You need JavaScript enabled to view it.
Godwin Semunyu +254 784 002 020 This email address is being protected from spambots. You need JavaScript enabled to view it.

(function($){ $(document).on('ready', function() { }); })(jQuery);