Basically, CRDB shareholders’ Annual General Meetings (AGMs) are held in May in Arusha, where they approve, among other things, their dividends.
This time around, the amount to be shared will rise, thanks to a 31 percent increase in net profit for the calendar year 2022.
The Dar es Salaam Stock Exchange (DSE)-listed lender registered a record net profit of Sh353 billion in 2022, up from Sh268 billion in 2021.
The results were driven by an increase in revenue following concerted efforts to grow the non-funded income stream.
CRDB’s non-funded income grew by 13 percent year on year to Sh400 billion from Sh354 billion in the preceding year.
Abdulmajid Nsekela, managing director of CRDB Bank, attributed the performance to increased transaction volumes, primarily through digital channels.
“We have been pushing digital channels for banking throughout the pandemic and post-pandemic, and that has contributed to the growth of the business,” he said.
Mr Nsekela said the bank also witnessed a growth in the usage of SimBanking, Internet banking, cards and agents throughout the year.
“With the exception of cards, all those services have been linked to private and government payment systems, which has led to an increase in transactions there,” he said.
In what explains the quality of CRDB Bank loans, the lender also reported the ratio of its Non-Performing Loans (NPLs) to total gross loans at 2.8 percent in December, 2022, declining from 3.3 percent in 2021.
NPLs at commercial banks are restricted by the Bank of Tanzania (BoT) to a maximum of 5 percent of total gross loans.
In line with a requirement to effectively manage operating costs, CRDB Bank Plc has also cut its cost-to-income ratio to 49.4 percent in 2022, from 55.30 percent in 2021.
The BoT mandates that commercial banks and other financial institutions keep their cost-to-income ratios at not more than 55 percent.
The published figures indicate that CRDB Bank has had a lot of good stories to tell with regard to the execution of its five-year strategic plan for (2018 to 2022) which ended in December, 2022.
Within the past five years, CRDB Bank’s net profit rose from Sh64 billion in net profit in 2018 to the current Sh351 billion.
Having performed well across all the parameters, CRDB Bank has also finalised its entry into the Democratic Republic of Congo (DRC) market.
This is meant to increase the lender’s visibility and position it as a facilitator of business activities across Tanzania’s borders. In the past five years, the bank reported having secured over Sh1 trillion in funds from international partners to increase its capability to serve market needs.
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Tanzania today declared the end of Marburg virus disease outbreak after recording no new cases over 42 days since the death of the last confirmed case on 28 January 2025.
The outbreak, in which two confirmed and eight probable cases were recorded (all deceased), was the second the country has experienced. Both this outbreak, which was declared on 20 January 2025, and the one in 2023 occurred in the north-eastern Kagera region.
In response to the latest outbreak, Tanzania’s health authorities set up coordination and response systems, with support from World Health Organization (WHO) and partners, at the national and regional levels and reinforced control measures to swiftly detect cases, enhance clinical care, infection prevention as well as strengthen collaboration with communities to raise awareness and help curb further spread of the virus.
Growing expertise in public health emergency response in the African region has been crucial in mounting effective outbreak control measures. Drawing on experience from the response to the 2023 Marburg virus disease outbreak, WHO worked closely with Tanzanian health authorities to rapidly scale up key measures such as disease surveillance and trained more than 1000 frontline health workers in contact tracing, clinical care and public health risk communication. The Organization also delivered over five tonnes of essential medical supplies and equipment.
“The dedication of frontline health workers and the efforts of the national authorities and our partners have paid off,” said Dr Charles Sagoe-Moses, WHO Representative in Tanzania. “While the outbreak has been declared over, we remain vigilant to respond swiftly if any cases are detected and are supporting ongoing efforts to provide psychosocial care to families affected by the outbreak.”
Building on the momentum during the acute phase of the outbreak response, measures have been put in place to reinforce the capacity of local health facilities to respond to potential future outbreaks. WHO and partners are procuring additional laboratory supplies and other equipment for disease detection and surveillance and other critical services.
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Source: allafrica.com
