CRDB nine-month profit up 29pc

CRDB Bank Group’s profit after tax rose 29.1 per cent to 672.07bn/- in the nine months to September, driven by growth in lending and customer deposits.

Profit before tax increased by 28.9 per cent to 962.24bn/-, bringing the lender close to the trillion-shilling mark in pre-tax earnings. CRDB Bank Group Board Chairperson, Prof Neema Mori said yesterday the performance demonstrated the strength of the Group’s long-term strategy and its growing contribution to economic transformation.

“These results represent more than financial growth. They demonstrate our ability to translate institutional strength into meaningful economic opportunities. As we consolidate our leadership position, our focus remains on building a resilient, well-governed institution that delivers sustainable shareholder value while supporting businesses, communities and the economies we serve,” she said.

The strong performance was accompanied by a 34.2 per cent increase in total assets to 27.45tri/-, while net loans grew by 43.7 per cent to 18.44tri/-. Customer deposits rose by 26.5 per cent to 17.79tri/-, reflecting continued customer confidence.

Prof Mori said the Group’s growing financial capacity positioned it to contribute more significantly to Tanzania’s Development Vision 2050 through financing productive sectors, promoting financial inclusion and facilitating regional economic integration.

Group Chief Executive Officer and Managing Director, Dr Abdulmajid Nsekela, attributed the results to disciplined implementation of the bank’s ‘Evolve Strategy’, investment in innovation and rising demand for financial services across its markets.

“Our growth reflects the ambitions of the customers and businesses we serve. When our loan portfolio expands by 43.7 per cent, it represents greater financial capacity to support enterprises, strengthen value chains and facilitate investment across the economy,” he said.

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Despite the expansion, the Group maintained a non-performing loan ratio of 2.27 per cent and a cost-to-income ratio of 41.42 per cent. Return on equity stood at 29.33 per cent, while return on assets reached 5.04 per cent.

The Group paid 267.9bn/- in income tax and 228.44bn/- in dividends during the period, while earnings per share reached 257.32/-. Its workforce stood at 4,811 employees, with 360.39bn/- spent on salaries and employee benefits. The Group operates in Tanzania and has subsidiaries in Burundi and the Democratic Republic of Congo, alongside an international presence in Dubai. Its other businesses include CRDB Insurance and the CRDB Bank Foundation.

CRDB Bank was also named Best Bank in Tanzania 2026 by Global Finance, reinforcing its recognition for financial performance and innovation.

You can add this paragraph before the final paragraph about the award, highlighting the bank’s regional expansion and contribution to economic growth: Dr Nsekela said the Group would continue expanding its digital banking services and supporting agriculture, manufacturing, trade and entrepreneurship, while leveraging its regional presence to facilitate cross-border trade, investment and financial inclusion.