Why banks’ shareholders must be happy

With a net profit growth rate of 75.9 percent at bank level – and 87 percent at group level – CRDB Bank shareholders can expect nothing but news of improved dividends from the bank’s chief executive officer, Abdulmajid Nsekela, during the next annual general meeting in about four months from now. At the bank level, net profit leapfrogged to Sh122.444 billion in 2019, from Sh69.588 billion in 2018. Earnings from its interest income-generation stream rose by 18.5 percent to Sh511.458 billion in 2019 while earnings from the non-interest stream went up by 18.7 percent to close the year 2019 at Sh248.271 billion. Mr Nsekela – who doubles as chairman of the Tanzania Bankers Association (TBA) – attributes the net profit rise to an improvement in the business environment, as well as digitisation of its services.

Why banks’ shareholders must be happy

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