Type | Private: DSE: CRDB |
---|---|
Industry | Financial Services |
Founded | 1996 |
Headquarters | Dar es Salaam, Tanzania |
Key people | Dr. Charles Kimei Managing Director |
Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
Revenue |
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Total assets | US$1.54+ billion (TZS:2,305 billion) (2010) |
Employees | 1,239 (2008) |
Website | Homepage |
CRDB Bank is a commercial bank in Tanzania. It is one of the commercial banks licensed by Bank of Tanzania, the national banking regulator.[2]
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As of January 2011[update], the bank is a large banking institution, providing commercial banking services to individuals, small-to-medium sized corporate clients and large corporations. As of December 2010[update], CRDB Bank was one of the largest commercial banks in Tanzania, with a total asset valuation of over US$1.54 billion (TZS:2,300 billion) and shareholders' equity valued at approximately US$161.8 (TZS:270.9 billion).[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]
CRDB Bank was formed when the former Cooperative Rural Development Bank which was 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] Despite all kinds of warnings DANIDA, reconstructed an insolvent bank in early 1990s. Now it is the biggest bank in Tanzania controlled by large by Danida of the 'modern state' of Denmark [6]. In 2009, British Oxford Policy Management, OPM [7] evaluated. The situation was "When a donor is playing to its' strength". The recommendation was "..maximises its impact on growth".[8]. OPM said to focus much more on the strategic general question of building a financial sector for more than just one bank. Danida's responds was the following: "However, there are also some recommendations that the Ministery of Foreign Affairs can not endorse. These include recommendation that the FSDT should have to, to a greater extent focus on the general strategic issues within the financial sector."[9] Abbreviation: FSDT, Financial Sector Deepening Trust.[10]. In 2010, things remain irrational, the politics of the whole industry, Tanzania Banker Association[11] are dominated by Danida, the donor[12] and not rational market economy.
CRDB Bank is owned by institutions and private individuals as detailed in the table below:[13]
CRDB Bank Stock Ownership | |||||||||||||||||||||
Branch NetworkAs of February 2009, CRDB Bank has a network of fifty four (54) branches in all regions of Tanzania. Regional expansionIn early 2009, the bank announced plans to enter neighboring countries by establishing subsidiaries in Kenya, Uganda, Rwanda and Burundi.[14] In November 2011, Tanzanian press reports indicated that CRDB Bank planned to cross-list on the Nairobi Stock Exchange (NSE) and on the Uganda Securities Exchange (USE). The same reports indicated that the bank's first foreign subsidiary will be established in Burundi in 2012.[15] External linksSee alsoReferences
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