Browsing: CRDB

With a balance sheet worth Tshs 14.3tr at the end of 2019, Equity Bank has been listed seven among the top 10 banks in Africa for 2020. Rightly so because, according to The Banker’s Top 100 African Banks ranking for 2020, Equity Bank has scored 5.82 in the overall category of the best performing banks. 

Equity Group has an asset base of US$9bl and with over 14.2 million customers; the Group is one of the biggest by customer base in the region. It has a footprint of 300 branches, 51,560 agents, 31,265 merchants and 623 ATMs and is the largest bank in market capitalization across East and Central Africa. 

The Group, which is listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and the Rwanda Stock Exchange, has banking subsidiaries across the region, including Rwanda, Uganda, …

Most businesses are looking for digital options to conduct their businesses and banks are no exception. Already the economy was tipping towards digitizing most all its activities but with the onslaught of the coronavirus, digitizing is no longer optional but a must.

Banks are now pushing for 100 percent digital migration of their customers seeking at least 90 percent of their services to be offered remotely. In Tanzania, CRDB Bank has announced that it is aiming to increase online and simbanking to 90 percent by the end of the year.

To achieve this goal, the bank has launched a campaign to mobilize online and mobile phone services for all their customers. The bank is now working to raise public awareness and increase use on online services rather than going with the traditional way of standing in line at the bank.

The press release quotes a high ranking bank official, the …

CRDB Bank, a leading bank in Tanzania, has announced plans to register its own insurance subsidiary firm.

The bank is currently already a broker and enjoying considerable premium back payments which almost double in the span of just 3 years (2016-2019).

In an interview with local media, CRDB’s Broker General Manager, Mr Arthur Mosha said in that short time, their premium levels is up from 44.2bn/- from 25bn/-

Not surprising, Tanzania’s insurance market grew by 8.6 percent in gross premiums over the course of the last financial year. As of 2018, Tanzania’s insurance industry had 31 insurance companies, 109 insurance brokers and 635 insurance agents.

For a country of 56 million people, the sector is hardly sufficiently serviced and there is enormous room for growth.

The bank’s brokage services target mainly their own customers who now represent 70 percent of all their insurance customers. At the moment, the leading products …