CRDB Bank Plc is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

. It is licensed by the

Bank of Tanzania The Bank of Tanzania ( sw, Benki Kuu ya Tanzania) is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling. The bank was established under the Bank of Tanzania Act 1965. ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

and national banking regulator. As of 31 December. 2018, the bank was reporting Total Assets of TSh 8 billion and Total Deposits of TSh 6 billion.

Background

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

Dar es Salaam Stock Exchange The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in A ...

in 2009 and as of December 2019, there are over 30,000 shareholders of the bank.

Location

The headquarters is located at Palm Beach, Upanga East, Ally Hassan Mwinyi Road in

Dar es Salaam Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over s ...

, the

financial capital Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide ...

and largest city in Tanzania. The geographical coordinates of the bank's headquarters at Latitude:-6.799562, Longitude:39.28344.

Ownership

CRDB Bank is a publicly listed company on the Dar es Salaam stock exchange owned by individuals, private and government institutions as per the following shareholding structure; The total number of shareholders by the end of 2019 stood at 30,023.

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, 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

' The Bank has been selected a friendly partner by various international financial institutions, including the International Financial Corporation (IFC), KFW-DEG, Germany, CDC-UK and

African Development Bank The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...

. In 2016, CRDB Bank became the first bank in Tanzania to be rated among the top ten stable and safe to invest African banks by the global financial rating agency Moody's Investors Services. Moody's rated CRDB Bank with a "B1 stable outlook" -- the highest rating to have been acquired by banks or financial institutions in sub Saharan Africa. CRDB Bank's 2018 balance sheet reports Total Assets of TSh 6 trillion and Total Deposits of TSh 4.7 trillion as at 31 December 2018. The bank has approximately 3,100 employees, and offers major financial investment dealings in Tanzania and

Burundi Burundi (, ), officially the Republic of Burundi ( rn, Repuburika y’Uburundi ; Swahili language, Swahili: ''Jamuhuri ya Burundi''; French language, French: ''République du Burundi'' ), is a landlocked country in the Great Rift Valley at the ...

References