CRDB receives Best SME Bank award

CRDB Bank was named the Best Small and Medium Enterprises (SME) bank in the country by Global Finance during its annual 2023 SME Bank Awards.

CRDB Director of Retail Banking, Bonaventure Paul said it was a great honour for the lender to receive the special award which was a clear testament to their everlasting support to micro, small and medium-sized enterprises across the country.

“Our performance in the SME sector results from strong strategic partnerships that we have been able to develop, which have strengthened our funding capabilities,” Mr Paul said yesterday.

Only five banks in Africa were named the best SME banks, whereby CRDB was the only bank from East and Central Africa.

Honourees of the 2023 Best SME Bank Awards were chosen globally from Africa, Asia-Pacific, the Caribbean, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe.

The colourful ceremony that saw CRDB Bank scoop the Award was recently held in London, United Kingdom.

Global Finance’s awards have become a trusted standard of excellence for banks and their corporate partners internationally.

Recently, CRDB received 150 million euros from European Investment Bank (EIB), which will enhance access to finance by micro, small and medium-sized enterprises across the country, and includes dedicated financing for women-led businesses and blue economy enterprises.

The EIB backed credit line will support business growth, contribute to gender equality and empowerment of women, and enable blue economy companies to invest in a better future.

CRDB was recognised as the Best Bank for SMEs in Tanzania based on independent research, with input from industry insiders, executives and technology experts using criteria such as knowledge of SME markets and needs, breadth of products and services, market standing, and innovation.

The recognition further highlights CRBD’s commitment to enabling the success of its customers by ensuring that every SMEs business owner gets the support needed to meet their everyday banking needs.

The 2023 Best SME Bank award is based on the performance from April 2021, to March last year.