By Business Insider Reporter
CRDB Bank and NMB Bank generated combined net profits of about TSh1.31 trillion in the nine months to September 2026, as both institutions recorded strong growth in lending, deposits and total assets.
The results underline the growing capacity of Tanzania’s banking sector to mobilise domestic savings and channel financing into businesses and other economic activities, at a time when access to capital is increasingly important to the country’s development ambitions.
CRDB Bank recorded profit after tax of TSh672.07 billion, an increase of 29.1 percent from the corresponding period in 2025, while NMB posted TSh635 billion, up 17 percent.
Their respective profit-before-tax figures stood at TSh962 billion and TSh911.1 billion.
The difference in performance was also reflected in their balance sheets. CRDB Bank’s total assets grew by 34.2 percent to TSh27.45 trillion, customer deposits by 26.5 percent to TSh17.79 trillion, and net loans by 43.7 percent to TSh18.44 trillion.
NMB’s assets increased by 25 percent to TSh19.31 trillion, deposits by 20 percent to TSh12.96 trillion, and net loans by 27 percent to TSh12.07 trillion.
In both institutions, lending expanded faster than deposits, with CRDB recording the more pronounced growth. Their combined balance sheets stood at about TSh46.76 trillion in assets, TSh30.75 trillion in customer deposits and TSh30.51 trillion in net loans at September 30.
The performance of the two banks is part of a wider expansion across the industry. An analysis of 16 leading banks shows that their combined loans, advances and overdrafts increased by TSh4.14 trillion between June and September 2026, reaching TSh55.12 trillion from TSh50.98 trillion. This represented quarterly growth of 8.12 percent.
The analysis covers CRDB, NMB, NBC, Stanbic, Azania, People’s Bank of Zanzibar, Exim, Standard Chartered, Tanzania Commercial Bank, Diamond Trust Bank, KCB Bank Tanzania, Absa, Equity, Tanzania Agricultural Development Bank, I&M Bank Tanzania and Citibank Tanzania.
Explaining the drivers of their performance, CRDB Group Chief Executive Officer Abdulmajid Nsekela points to the bank’s financing of agriculture, manufacturing, trade and entrepreneurship, alongside the expansion of digital banking and regional financial connectivity. He also highlights the contribution of the group’s insurance and foundation businesses to financial inclusion.
NMB Managing Director and CEO Ruth Zaipuna says the bank’s nine-month results were supported by 27 percent growth in loans and advances, 20 percent growth in customer deposits and 25 percent expansion in total assets. Its cost-to-income ratio stood at 37 percent, while the non-performing loans ratio was 2.5 percent.
She identifies agriculture, manufacturing, energy, tourism and mining as strategic financing priorities.
““These strong results reflect the continued trust of our customers, shareholders and other stakeholders, as well as the resilience of our business model and disciplined execution of our strategic priorities. Recording a 17 percent increase in both profit before tax and profit after tax demonstrates NMB’s ability to sustain growth while creating value for our stakeholders,” she said
NBC Managing Director Theobald Sabi attributes his bank’s performance to customer confidence, disciplined execution of strategy and employee commitment. He also identifies growth in lending and deposits as important foundations for financing productive investment and business expansion.
The expansion comes as Tanzania implements Dira 2050, which targets a US$1 trillion economy by 2050 and envisages the private sector providing about 70 per cent of the financing required.
With banks serving as a major link between savings and investment, their contribution will increasingly be judged by their ability to finance productive enterprises, widen access to affordable credit and support business expansion.
In particular, the challenge is to ensure that credit reaches small and medium-sized enterprises and productive sectors, helping to raise domestic production, create employment, strengthen value chains and expand exports.
