The Latest

CRDB Bank Shows Impressive Increase in Profits

November 27, 2012
1 minute read
crdb bank tanzania

CRDB Bank showed an impressive increase of 60% in profits in the first 11 months of 2012 reaching TZS 80 Billion (USD 50 Million).

The bank’s profits after tax are TZS 50 billion (USD 31 Million) for the same period, confirmed CRDB’s Managing Director, Dr Charles Kimei.

CRDB explains these strong results are due to its aggressive branch expansion strategy, with 85 branches in 2012, compared with 60 in 2011. The success of the mobile phone money banking service is also mentioned as a factor. Branded as SimBanking, it allows users to carry out banking transactions using a mobile handset and network.

Tanzania Investment Guide 2026 Free Edition

Total assets of CRDB are now listed as TZS 2,949 Billion (USD 1,840 Million) which represent a 12.6% increase compared to the same period last year. Total deposits grew by 8.5% to TZS 2,449 Billion (USD 1,527 Million).

CRED expectations for 2013 are bright, the bank announced, with plans to open additional branches throughout Tanzania and introduce additional innovative banking products.

 

 

 

Want to know more about Banking in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers Banking, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources, and is also available at no cost upon completion of a short form.

Download Free OverviewGet the Full Edition for Free
Tweet
Share
Share
Share
Related Posts
Tanzania banking sector performance H1 2026
Read More

Tanzania Banking Sector H1 2026 Performance: Profit Up 13% to TZS 1.38 Trillion, Assets Reach TZS 91.3 Trillion

Tanzania's banking sector recorded net profit after tax of TZS 1.38 trillion in H1 2026, up 13% from H1 2025, on total assets of TZS 91.3 trillion. CRDB Bank Plc (DSE: CRDB) profit rose 20% to TZS 416.9 billion and NMB Bank Plc (DSE: NMB) reached TZS 405.8 billion, while eleven banks with assets above TZS 2 trillion held 84.4% of sector assets, with average ROE at 12.5% and NPL at 4.7%.
Axian Acquisition Letshego Bank Tanzania
Read More

Yas Owner Axian To Acquire 100% Of Tanzanian Lender Letshego Faidika Bank

Axian, the group behind Yas mobile operator, is acquiring 100% of Letshego Faidika Bank Tanzania, a licensed Tier II commercial bank, with the transaction now under review by the country's Fair Competition Commission. The deal forms part of Letshego Africa Holdings' disposal of its Ghana, Tanzania, Nigeria, Rwanda and Uganda subsidiaries agreed on 27 April 2026, and would add a banking licence to a group that already operates the country's second-largest mobile money service.
Central Bank of Tanzania BOT CBR Interest Rate Q3 2026
Read More

BOT Raises Tanzania Central Bank Rate to 6.25% for Q3 2026; GDP Growth Estimated at 6% in H1 2026, Driven by Agriculture, Construction, Mining, and Tourism

The Bank of Tanzania (BOT) released its Monetary Policy Committee Statement of July 2026, in which it indicates that the MPC decided to raise the Central Bank Rate (CBR) from 5.75% to 6.25% for the third quarter of 2026. The decision aims to contain inflation driven by high energy, fertilizer, and transportation costs linked to the geopolitical conflict in the Middle East.
Bank of Tanzania Financial Stability Index 2014-2025
Read More

Tanzania Banking Assets Up 23.8%, Capital Markets Up 35.1%, Social Security Up 21.4%, Insurance Up 6.8% in 2025

The Bank of Tanzania Financial Stability Report for 2025 shows banking sector total assets grew 23.8% to TZS 76,975 billion, private sector credit expanded 23.5% with mining up 30.1% and trade up 29.4%, and the non-performing loans ratio fell to 2.8%, the lowest in the East African Community. Total capital market investment rose 35.1% to TZS 63,096.4 billion, social security assets grew 21.4% to TZS 25,921 billion, insurance assets rose 6.8% to TZS 2,633.6 billion, and foreign reserves stood at USD 6,312 million covering 5.2 months of imports.

Want to know more about investing in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the economy, key sectors and investment opportunities. The complete 141-page edition, which includes policies, taxation, key regulations, full macroeconomic data and sources, is also available at no cost upon completion of a short form.

Download Free Overview Get the Full Edition for Free