CRDB rated highly in assets share in 2017

Dar es Salaam. New data by the central bank has revealed that CRDB Bank has beated 54 other banks in Tanzania in 2017 in holding the largest asset market share to the tune of 19.5 per cent of the total.

Bank of Tanzania (BoT) directorate of banking supervision manager Eliamringi Mandari revealed on Tuesday, February 6.

According to him, CRDB Bank was followed by NMB with a total asset share of 18.4 per cent, NBC (5.9 pc), Standard Chartered (5.4pc), Exim (4.3pc), Stanbic (4.2pc), Diamond Trust Bank (3.8pc) and Bank M (3.4pc).

"The remaining 46 banks hold market share is 34.61 per cent together," he said.

He explained that due to lack of required capitals at least five community banks’ licences were revoked last year, remaining with only six.

However, he revealed that the decision to revoke the licences did not affect the economy as their market share was only 0.04 per cent.