CRDB Bank Group delivered a stellar financial year in 2024, with record profits, a significant dividend payout of TZS 65 per share, and strong growth across key performance indicators. With a robust capital position, regional expansion into the DRC and Burundi, and ongoing digital transformation, CRDB has cemented its status as Tanzania’s most dynamic financial services institution.

• Click here to download the CRDB BANK 2024 ANNUAL REPORT

🌟 2024 Performance Highlights

• Profit After Tax (PAT): TZS 551.5 billion (+30.4% YoY)
• Total Assets: TZS 16.7 trillion (+25.3%)
• Loans and Advances: TZS 10.4 trillion (+22.7%)
• Customer Deposits: TZS 10.9 trillion (+23.5%)
• Return on Equity (ROE): 27.7%
• Return on Assets (ROA): 5.2%
• Non-performing Loans (NPL): 2.9% (well below the industry average of 5%)
• Cost-to-Income Ratio: 45.7%
• Dividend per Share: TZS 65
• Share Price Appreciation: 45.7% (from TZS 460 to TZS 670)

📈 Financial Performance Analysis

The Group recorded TZS 1.56 trillion in interest income and TZS 560.1 billion in non-interest income. Operating income was bolstered by improved loan book performance and growth in digital banking transactions. CRDB’s cost discipline was evident in its reduced cost-to-income ratio, even as it invested in digital infrastructure and ESG-compliant initiatives.

Key strategic themes for 2024:

• Strong balance sheet and equity base (TZS 2.17 trillion)
• Sustained market leadership (27% deposit and 26% asset market share)
• Prudent risk management and asset quality
• Diversified income streams through treasury, insurance, and regional subsidiaries

🏦 Subsidiary Performance Overview

CRDB Bank Burundi S.A.

• PAT: TZS 40.3 billion
• Assets: TZS 1.48 trillion

CRDB Bank DRC:

• Net Loss: TZS 6.7 billion (typical of early-stage expansion)

CRDB Insurance Co. Ltd:

• PAT: TZS 0.3 billion
• Gross Written Premium: TZS 26.9 billion

CRDB Foundation:

• 196,650 new accounts opened through financial inclusion campaigns

🌐 ESG & Green Finance Leadership

CRDB is a pioneer in green finance in East Africa. In 2024, the bank:

• Disbursed TZS 86.9 billion in green loans
• Was awarded the IFC EDGE Green Building Certification
• Reduced paper use by 21% (from 22,535 to 17,810 reams)
• Achieved 21% energy and water savings, and 27% reduction in embodied carbon
• Invested over TZS 2.3 billion in CSR, with a focus on education, health, and women/youth empowerment

🤝 Human Capital and Customer Experience

CRDB employed 4,251 staff, maintaining a 55:45 male-to-female ratio. Employee satisfaction stood at 94%, driven by extensive training (4,251 trained) and performance incentives. Customer experience improved markedly with a 56% Net Promoter Score (NPS), supported by 36,566 agents, 684 ATMs, and 259 branches nationwide.

🚀 Strategic Initiatives and Digital Transformation

• Enhanced mobile and internet banking platforms
• Core banking upgrade for scalability
• AI, data analytics, and cybersecurity investments
• Launched paperless banking processes (“Optima”)
• Expanded Al-Barakah Shariah-compliant banking services
• Reinforced partnerships with global development institutions

🏛 Shareholder Value and Governance

• TZS 461.8 billion paid in total taxes
• Dividend policy: up to 35% of distributable profits
• Dividend per share: TZS 65 (30% YoY increase)
• Shareholder base: 36,399
• Market capitalization: TZS 1.75 trillion

🌎 Strategic Outlook for 2025

The Group is poised to:

• Expand its regional footprint further
• Deepen digital adoption across all customer segments
• Lead in ESG financing and impact banking
• Enhance profitability through cost optimization and innovation

Conclusion CRDB Bank’s 2024 performance reaffirms its role as a continental banking powerhouse. Its strategic clarity, regional ambition, and ESG leadership signal not just sustained profitability, but also a deeper impact on livelihoods, sustainability, and inclusive growth. Investors, policymakers, and customers alike will find CRDB an institution shaping the future of African finance.

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