Dar es Salaam. On the back of a record after-tax profit of Sh551 billion for the 2024 financial year, the highest in its 30-year history, CRDB Bank has underlined its commitment to delivering long-term value for investors.
At the CRDB Investors’ Forum held at the Johari Rotana Hotel in Dar es Salaam on May 6, 2025, about 200 institutional and individual investors had an opportunity to review the bank’s audited financial performance for 2024, assess progress on its business strategy, and discuss first-quarter results for 2025.
The event was hosted as part of the bank’s 30th anniversary celebrations.
Leading the forum, CRDB Bank Group Chief Executive Oficer (CEO), Mr Abdulmajid Mussa Nsekela, said the milestone profit reflected the bank’s financial resilience, operational excellence, and its growing impact on the region’s socio-economic development.
“These historic results mark three decades of leadership, innovation, and delivering quality banking services,” he said.
“They also affirm the strength of our financial position, the lives we’ve touched, the businesses we’ve empowered, and the economies we continue to support across the region.”
CRDB’s total assets rose by 24.5 per cent to Sh16.7 trillion in 2024, buoyed by strong growth in loans and deposits. Gross loans increased by 22.8 per cent to Sh10.4 trillion, driven by sensible risk management and strong demand from business, agricultural and SME sectors. Customer deposits reached Sh10.9 trillion, with low-cost deposits (CASA) accounting for 87 per cent.
The Group’s subsidiaries contributed six per cent to total after-tax profit:
CRDB Bank Burundi posted a profit of Sh40.3 billion, with assets totalling Sh1.5 trillion.
CRDB Insurance, in its first year of operations, reported a Sh343 million profit, adding to non-interest income.
CRDB Bank Congo, still in its early stages, recorded a loss of Sh6.5 billion but showed promising growth with assets in the billions and is expected to break even sooner than projected.
Through the CRDB Foundation, the Group extended financial inclusion to over one million young people and women via the IMBEJU programme.
Digital transformation and customer growth
Digital transformation remained central to CRDB’s operations, with 98 per cent of all customer transactions in 2024 executed through alternative channels.
Of these, 53 per cent were processed via digital platforms such as SimBanking, which disbursed over Sh18 billion in digital loans, whilst 45 per cent were conducted through the CRDB Wakala network. Only two per cent of transactions occurred at physical branches.
The bank also added 1.5 million new customers in 2024, including over 340,000 through its Islamic banking window, CRDB Al Barakah.
Independent audits indicated a 94 per cent customer satisfaction rate, reflecting improvements in service delivery and user-friendly digital channels.
Operational efficiency and capital strength
Mr Nsekela said CRDB Bank Group posted a non-performing loan ratio of 2.9 per cent, within regulatory limits, while return on equity stood at 28 per cent.
The cost-to-income ratio improved to 45.9 per cent, reflecting heightened operational efficiency. The bank’s capital adequacy ratio was 17.2 per cent, providing a strong base for future growth.
Strategic partnerships driving economic impact
The Group continued to strengthen its strategic partnerships, mobilising over USD 700 million to support key sectors, including $45 million directed to support regional trade through its Burundi and DR Congo subsidiaries.
These initiatives contributed to the creation of over 10,000 jobs.
“These outcomes underscore the impact of our collaborative strategies with both local and international partners,” said Mr Nsekela.
“Whether in trade finance, youth empowerment or climate-conscious investments, our commitment is to shared prosperity.”
Higher dividend and positive q1 2025 results
Following its record performance, CRDB’s Board of Directors has recommended a 30 per cent increase in dividend per share, from Sh50 to Sh65, reinforcing its pledge to deliver sustainable shareholder value.
The forum also reviewed CRDB’s first quarter results for 2025, which showed after-tax profits of Sh173 billion—up by 36 per cent from the corresponding quarter in 2024.
Interest income grew to Sh308 billion, pointing to a strong start to the year.
“We are encouraged by the positive momentum at the start of 2025,” said Mr Nsekela.
“Our focus remains on accelerating digital transformation, expanding our regional footprint, empowering entrepreneurs—especially young people and women—and enhancing our climate finance agenda.”
Board reaffirms strategic direction
Board Chairman Dr Ally Hussein Laay assured investors of the board’s unwavering commitment to policies and guidance that promote sustainable and long-term growth.
“As we celebrate 30 years of CRDB’s journey, these results speak to our strategic clarity and resilience. We have a solid foundation to drive future growth, and I urge our investors to continue trusting in their bank,” he said.
He also invited shareholders to attend CRDB’s 30th Annual General Meeting to be held on May 17, 2025 at the Arusha International Conference Centre (AICC), preceded by a Shareholders’ Seminar graced by Vice President Dr Philip Isidor Mpango.
“It will be a momentous occasion to reflect on our achievements and chart our future together,” Dr Laay added.
Participants at the forum praised CRDB’s performance and transparent communication.
“CRDB continues to stand out for its strong performance, clear direction and robust regional strategy,” said Prof Mohammed Warsame, chief executive of iTrust.
