LONDON, ENGLAND: CRDB Bank has been named ‘Best Bank in Tanzania 2024’ at the Banker Awards by the Financial Times, recognising its innovation, financial growth and sustainability.
The prestigious accolade was presented at a ceremony in London yesterday where the bank, one of the largest lenders in Tanzania, was lauded for its impressive financial growth, groundbreaking initiatives such as the Kijani Bond and expansion into the Democratic Republic of Congo (DRC).
CRDB Bank Foundation Managing Director and Director of Corporate Affairs, Ms TullyEsther Mwambapa, said while receiving the award that the recognition celebrates the hard work in creating impactful solutions that uplift communities and promote sustainable development.
“Winning The Banker’s award solidifies our position as a financial leader in Tanzania and beyond,” Ms Mwambapa said adding, the recognition crowns a year of exceptional achievements for CRDB.
The bank also received accolades such as Best Small and Medium Enterprises (SME) Bank in Tanzania by Euromoney and Best Bank in Tanzania, Best Bank for SME in Tanzania and Best Mobile Banking App by Global Finance.
“These awards underscore CRDB’s leadership in innovation, financial inclusion and sustainable banking,” she said.
The bank’s success was driven by robust financial growth recorded at the end of last December, including a 20.4 per cent increase in Tier 1 capital to 1.78tri/-, a 14.48 per cent rise in total assets to 13.32tri/- and a 20 per cent growth in net profits to 422.79bn/-.
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Additionally, the bank’s strategic expansion included establishing operations in the DRC and opening new branches across Tanzania, enhancing financial inclusion for underserved communities.
The bank also demonstrated technological innovation through digital platforms such as SimBanking and TANQR, which have simplified transactions and deepened customer engagement.
Its commitment to sustainability was highlighted by the groundbreaking Kijani Bond, Sub-Saharan Africa’s first green bond, which raised 171.82bn/- to fund environmental and social initiatives.
The Banker’s awards, judged by a panel of editors including regional and sector specialists, recognise banks that have made significant improvements over the past 12 months. Covering over 120 countries, the awards are among the most prestigious in global banking.
This latest honour for CRDB Bank reflects Tanzania’s growing prominence as a regional financial hub, thanks to a supportive regulatory environment, robust economic policies and advancements in financial inclusion and digital transformation.
These developments have positioned the country as a beacon of growth and innovation, attracting both local and international stakeholders.
CRDB Bank Plc remains one of East Africa’s leading commercial banks, serving diverse sectors across Tanzania, Burundi and the DRC.
