The Treasury receives a dividend of 25 billion / – CRDB

The Minister of Finance and Planning, Dr Mwigulu Nchemba, received the dividend at an event held at the CRDB headquarters in Dar es Salaam, hailing the bank for the dividend as the increase in the dividend was a result of the good performance of last year.

“The issuance of a higher dividend is a sign that the bank is doing well thanks to the strategies that have been put in place,” he said, hinting that the money would be directly injected into the aligned projects. in the 2021/22 budget and the Third National. Development plan 2021/22 to 2025/26, particularly in the health sector.

He congratulated the bank on its good performance in the first half of 2021, where profit increased by 26%, from 70.4 billion / – in 2020 to 89 billion / -, likewise welcoming the initiatives of the bank to contribute to national development. Its tax contribution was $ 181.4 billion / – last year, he said.

“I am impressed with the strategies of the CRDB Bank to help the government create jobs through internship and graduate development programs,” he said, adding that the government has adopted several strategies this year to help improve the performance of the financial sector.

This includes reducing the level of bank deposits at the central bank, establishing a loan fund for financial institutions and reducing the amounts of capital required for lending to the private sector, he said. .

Danish Ambassador Mette Norgaard Dissing-Spandet said her country was proud of its investment with the CRDB Bank through the Danish International Development Agency (DANIDA).

She praised the government for its strong cooperation with Denmark, noting that the positive financial results the bank is recording shows how seriously it has invested in innovative products and services that meet current needs.

CRDB Bank Chairman of the Board, Dr Ally Laay, said the dividend paid was part of the after-tax profit of 165.2 billion / – obtained in fiscal year 2020/21, assuring the public that the bank would continue to improve its services to meet shareholder expectations and improve services. to the general public.

“The shareholders’ conference held virtually in June approved a dividend of 22 / – per share, an increase of 37.5% from the previous dividend, bringing this year’s dividend to 58 billion / -“, he explained.

He praised the government for creating a conducive investment environment, which has helped the bank to make its operations more efficient and strengthen its contribution to economic growth.

CRDB Bank executive director Abdulmajid Nsekela assured the minister that the bank will continue to work closely with the government to improve financial services and enable more people, including those living in remote places, to access credit services, thereby promoting financial inclusion in the country.

The dividend to the government was remitted through the DANIDA fund, while the bank also distributed dividends to public institutions such as PSSSF, NSSF, ZSSF, NHIF, the Local Governments Loans Board, the Umoja Unit Trust program, the TCCIA Investment Co. Ltd, Western Zone Tobacco Growers Cooperative Union Ltd (WETCU) as well as district councils like Mbinga (Ruvuma region), Shinyanga, Mufindi (Iringa region), Chunya and Rungwe (Mbeya region).

The government is the largest shareholder in CRDB Bank with 21% of the shares through DANIDA, an aid agency of the Government of Denmark, with public institutions holding 17% of its shares, he added.

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