CRDB Dividends Payout For 2015 Increase by 13.3%

crdb bank tanzania

CRDB Bank approved a total dividend payout for 2015 of TZS44.4bn during its Annual General Meeting (AGM) held on 21st May 2016.

CRDB’s Board of Directors approved a dividend of TZS17 per share for 2015, compared to TZS15 per share for 2014, representing an increase of 13.3%.

The dividend yield is 4.2% (2014: 3.5%), earnings per share (EPS) is TZS53.90 (2014: TZS43.9) and price to earnings (P/E) ratio is 7.5 (2014: 9.8).

Martin Mmari, CRDB’s Board Chairman, explained that this decision is the result of the bank’s positive performance in 2015 when its net profit grew by 35% to TZS128.9bn from TZS95.6bn in 2014.

The growth was partly driven by a rise in net interest income of 41% to TZS390.6bn, CRDB’s 2015 Annual Report indicates.

CRDB’s interest income rose by 34% from TZS371.7bn in 2014 to TZS497.4bn in 2015. This growth was largely contributed by the growth in the Group’s loan portfolio especially from the retail segment.

The gross loan portfolio grew by 29.7% from TZS2,576bn in 2014 to TZS3,342bn at the end of December 2015.

Total assets increased by 28.4% to TZS5.4tn, while deposits rose by 25% to TZS4.2tn at end of December 2015.

In 2016 CRDB will continue with consolidation in order to sustain growth of assets, deposits and net income.

CRDB Bank is the leading banking institution in Tanzania in terms of assets, loans and customer deposits.

The bank was established in 1996 and listed on the Dar es Salaam Stock Exchange (DSE) in June 2009.