Govt reforms fuel CRDB’s record profit of 346bn/-

DAR ES SALAAM: CRDB Bank Group has reported a 26 per cent surge in profit for the first half of the year, its strongest mid-year performance since inception, driven by a stable macroeconomic environment, ongoing reforms and continued investment in digital infrastructure.

The country’s improving business climate continues to boost private sector growth and financial inclusion, providing fertile ground for banks to expand.

CRDB, the largest bank in the country, recorded a profit after tax of 346bn/-, supported by strong revenue growth, tighter cost controls and rising customer confidence as it marks 30 years of operations.

Group Chairperson Prof Neema Mori said the results reflect effective strategy execution and stakeholder trust.

“This performance shows the strength of our strategy and the trust our customers and partners place in us.

“Our role as the Board is to keep CRDB anchored in integrity, sustainability and sound risk management. These principles continue to drive our growth,” said Prof Mori. The performance reinforces the momentum of the Bank’s Medium-Term Strategy (2023–2027), now in its third year.

CRDB CEO and Managing Director Abdulmajid Nsekela said the results confirm the strategy’s success.

“The first half of 2025 showed strong momentum across the business, from income growth to balance sheet expansion,” said Mr Nsekela.

Net interest income rose 21 per cent to 643bn/-, driven by lending growth. Non-funded income, mainly from digital and agency banking, jumped 38 per cent to 354bn/-.

“This was largely fuelled by increased use of digital channels,” said Mr Nsekela.

Foreign exchange income surged 81 per cent to 73bn/-, highlighting CRDB’s growing role in trade finance and crossborder services.

Total assets rose 32 per cent year-on-year to 19.7tri/- . The loan portfolio reached 12.2tri/-, up 29 per cent, driven by corporate and SME lending. Deposits climbed 38 per cent to nearly 14tri/-.

Despite aggressive lending, asset quality remained solid, with the non-performing loan ratio at 3.05 per cent, well within regulatory limits.

Operational efficiency improved as the cost-to-income ratio fell to 42.6 per cent from 45.4 per cent, reflecting effective cost control and digital gains.

Shareholder funds increased 23 per cent to 2.39tri/-, while Return on Equity rose to 29.5 per cent, up slightly from 29 per cent.

CRDB’s share price hit 800/- by June, a 54 per cent year-on-year rise. In July, it reached 1,000/-, making CRDB the third company on the Dar es Salaam Stock Exchange to surpass a billiondollar market cap.

Since the Medium-Term Strategy launched in late 2022, the share price has risen 153 per cent. Shareholders now exceed 45,000, reflecting growing investor confidence.

In July, CRDB won three Euromoney Awards: Best Bank in Tanzania, Best Bank for ESG and Best Bank for SMEs.