- Named Best Bank and Safest Bank in Tanzania
By Business Insider Reporter
CRDB Bank has once again cemented its position as a powerhouse in Tanzania’s banking sector, receiving the prestigious titles of Best Bank in Tanzania as well as Safest Bank in Tanzania.
The awards have been bestowed by Global Finance Magazine at the magazine’s 31st Annual Best Bank Awards held recently.
The awards were presented in Washington during the IMF and World Bank Annual meetings, mark the fifth consecutive year for CRDB Bank as Tanzania’s Best Bank and the second year running as the Safest Bank – a remarkable achievement underscoring the Bank’s resilience, safety, and innovation in the financial services industry.
This recognition is also a testament to the visionary leadership of CRDB Bank Group CEO, Dr. Abdulmajid Nsekela, highlighting the Bank’s impactful role within both the Tanzanian and regional financial landscapes.
“We are honoured to be recognised as Tanzania’s Best Bank by Global Finance once again,” said Dr. Nsekela adding:
“This award signifies that we are indeed on the right path – delivering a distinguished experience to our customers and value to our shareholders, while making impactful contributions to Tanzania’s financial sector.”
To CRDB, this honour marks the bank’s sustainable growth model, which brings tangible benefits to customers, investors, and nation’s economy at large.
CRDB is among winners who have been chosen from nearly 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe.
The Bank has seen an unprecedented year of overall performance, attributed in large part to enhancements in its digital infrastructure, which have bolstered efficiency and innovation in service delivery.
Dr. Nsekela emphasised that the CRDB’s notable growth stems from purposeful strategies across all areas, solidifying it as the preferred financial institution in the country.
“These awards are not only a reflection of our commitment to excellence but also a tribute to our customers, partners, and the entire CRDB Bank team who
share a vision for a prosperous Tanzania,” noted the CEO.“It is a privilege to be named both Safest Bank and Best Bank in Tanzania, as we advance our mission to empower Tanzanians and extend our influence on the international stage,” sand Dr. Nsekela.
With over Sh14 trillion in assets, CRDB stands as Tanzania’s largest bank, recognized for consistent success across critical business metrics.
Joseph Giarraputo, Founder and Editorial Director of Global Finance, highlighted CRDB Bank’s dedication to financial inclusion and commitment to exceptional service, stating; “Over the past year, CRDB Bank has made impressive strides in delivering world-class services and fostering trust among its customers across the nation.”
During the World Economic Summit in Washington, Dr. Nsekela also took part in a high-profile panel on digital payment transformation, where he emphasised CRDB Bank’s dedication to advancing digital solutions that enhance financial accessibility.
Additionally, Dr. Nsekela engaged in strategic meetings with prominent financial organisations including the World Bank, Exim Bank USA, MUFG, Yaatra Ventures, and TIAA, aiming to unlock new capital streams and position Tanzania as an emerging force in the global economy.
“Banking has reached another watershed moment with the debut of generative artificial intelligence, which promises to rewrite the industry playbook,” said Mr. Giarraputo.
In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
In recent years many banks in Africa, if not all, have been operating in challenging environments due to global economic turmoil.
The situation has been worse among big economies owing to harsh economic environments.
Under such a condition, Africa banks which have excelled have demonstrated top leadership and management shrewd and power.
