CRDB BANK LIMITED is a private commercial bank. The Bank was established on July 1st 1996 to succeed the former Cooperative and Rural Development Bank (CRDB), which was a public institution with majority of shares held by the Government of the United Republic of Tanzania. The succession was a result of the liberalization of the banking industry in Tanzania.
The liberalization which followed the enactment of the Banking and Financial Institutions act (BFIA) of 1991 and Government’s policy to divest its interest in the sector, prompted a recapitalisation of the Bank to levels stipulated by the BFIA (1991).Restructuring
CRDB has been blessed with an invaluable partnership from the Danish International Development Agency (DANIDA). DANIDA’s commitment and support in technical, managerial and financial areas of the Bank's operations has been instrumental for the success of CRDB BANK LIMITED.
DANIDA therefore was fundamentally involved in CRDB’s restructuring as demanded by the BFIA (1991). The restructuring, which started in 1992, aimed at a more efficient organizational system, better returns to shareholders and overall improvement in the financial performance of the Bank. The exercise involved:
Shareholding diversification was one of the aspects of the CRDB financial restructuring. In an unprecedented exercise CRDB became the first successful major Tanzanian privatization that involved the sell of shares to the public.
CRDB BANK LIMITED is owned by over 11,000 shareholders under the following major groups (by value of shares):
The authorized share capital of CRDB BANK LIMITED is Tshs 20.0 billion and presently the paid up capital is Tshs 12.3 billion.
CRDB Bank Limited is a bank that cares for its customers and has the capacity to advise its clients. It is a bank committed to responsible development of Tanzania's economy and society by financing only environmentally friendly projects.