Dar es Salaam, Tanzania.
CRDB Bank’s gross profit rose by three percent to Sh133 billion during the first quarter of 2023, driven by a rise in net interest income.
Net interest income is the difference between interest revenues and interest expenses. The bank earns interest from customers when it loans them money, and in some instances charges bank fees on money deposited by customers also.
The lender’s first quarter net interest income rose to Sh192 billion, representing a 9.7 percent increase from the previous year.
Non-interest income rose to Sh106 billion, being a three percent rise from the Sh103 billion recorded in the first quarter of 2022.
This, the bank says, was driven by increased transactions on digital channels including SimBanking, Internet banking, and CRDB Wakalas. Commenting on the figures, the CRDB Bank Group CEO, Mr Abdulmajid Nsekela, said the performance was a good start in the execution of the lender’s new medium-term strategy which runs from 2023 to 2027.
He said the Bank intends to maintain this momentum by investing in growth opportunities within the regional investment landscape and leveraging its capabilities to invest in key markets and sectors to potentially bolster this growth.
Mr Nsekela acknowledged CRDB Bank’s ongoing investment in technology, focusing on digitizing customer journeys and upgrading its core banking system to offer a superior customer experience characterized by hyper-personalization and relevance.
According to CRDB Bank’s chief financial officer, Mr Frederick Nshekanabo, the bank’s automation strategy has helped to strengthen its loan portfolio and quality, with Non-Performing Loans (NPL) standing at 2.8 percent.
Gross loans and advances stood at Sh7.2 trillion, reflecting a 4.6 percent increase compared to Sh6.9 trillion recorded on December 31, 2022.
Total assets grew by 9.3 percent from Sh11.69 trillion in December 2022 to Sh11.96 trillion in March 2023 while customer deposits stood at Sh8.3 trillion compared to Sh8.2 trillion in December 2022 as the bank continues to strengthen its balance sheet.
Looking forward, Mr Nsekela exuded confidence in the bank’s future, building on the impressive strides made over the last five years, believing that the new medium-term strategy presents a unique opportunity to transform the business in a manner that could benefit the Bank’s customers and shareholders and revolutionise economies.
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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
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