CRDB shareholders triple to 90,000 in a year

ARUSHA: CRDB Bank shareholders tripled from over 30,000 to 90,000 within a year, forcing the lender to adopt wider use of virtual technology to manage participation at its 31st Annual General Meeting (AGM) across the country.

The sharp increase in investors signals rising confidence in the bank’s earnings growth, regional expansion and dividend prospects at a time when more domestic investors are turning to the stock market for long-term investment opportunities.

The CRDB Bank Group Chairperson, Neema Mori (pictured), said recently during the AGM that the increase described the growth as a reflection of trust in the lender’s performance both locally and in regional markets where the bank operates.

“This is a grace, as my name is Neema, which means grace,” she said. “Last year was a grace year for the bank in and out of the country.” The swelling number of shareholders is now creating logistical and infrastructure challenges for the lender, whose investor base has outgrown the capacity of most major venues in the country.

Even the Benjamin Mkapa Stadium, Tanzania’s largest venue, can only accommodate about 60,000 people, well below CRDB’s current shareholder base.

At this year’s AGM mid this month, the surge in physical attendance filled the Arusha International Conference Centre to capacity, forcing the bank to hire two additional conference halls where shareholders followed proceedings through television screens.

To accommodate investors spread across the country, the bank expanded the use of hybrid and virtual participation systems, enabling shareholders in major cities and towns like Dodoma, Tanga, Kagera and Mwanza to follow the meeting remotely in real time.

The growing shareholder base also reflects increased retail investor participation at the Dar es Salaam Stock Exchange, where banking stocks continue attracting strong interest from investors seeking stable returns and consistent dividend payouts.

The AGM approved a dividend of 90/- per share, payable starting next week. CRDB Bank has in recent years expanded operations beyond Tanzania while strengthening digital banking services and corporate lending, helping the lender maintain its position among the country’s largest financial institutions.

“The operating environment across the Group’s footprint in Tanzania, Burundi, and the Democratic Republic of Congo was uneven, requiring sound judgment and firm decision-making. “Conditions across the three markets necessitated close strategic coordination at the Group level and careful calibration of growth, risk and capital deployment,” Ms Mori said.

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CRDB Bank Group remains well-positioned to capture opportunities arising from a supportive macroeconomic backdrop and continued demand for quality financial services.

Across Burundi and the DRC, they will maintain a prudent stance, with continued attention to portfolio quality, liquidity, foreign-exchange management, and operational resilience.

“At the same time,” she said, “the Group will continue to widen its strategic reach by deepening its presence in regional and international corridors, including selective corridors, in support of trade, connectivity, and long-term franchise relevance.

The bank’s use of technology during the AGM points to a broader shift among listed companies toward digital shareholder engagement as investor numbers continue to rise beyond the capacity of traditional meeting venues.