CRDB Bank has entered a new era by expanding its presence beyond Africa. The bank is set to establish operations in Dubai, making it the first East African financial institution to venture into Asia. This strategic move strengthens trade and investment opportunities for businesses across the region.

The announcement was made during the launch of CRDB Bank’s 30th Anniversary celebrations, where Group CEO Abdulmajid Nsekela briefed the Minister of Communications and Informtion Technology, Jerry Slaa, on this milestone.

“Our 30-year journey has been defined by resilience, transformation, and innovation. Technology has been a key driver, enabling us to grow beyond Tanzania’s borders. Today, we take pride in leading the market with financial solutions that foster inclusion and economic empowerment,” said Nsekela.

Dubai was chosen as the bank’s next frontier due to its position as a global financial hub, facilitating international trade and investment. This expansion will connect East African businesses to broader markets, creating new growth opportunities.

Nsekela also highlighted CRDB Bank’s financial strength, citing unaudited 2024 results that position it as Tanzania’s market leader. The bank holds total assets worth TZS 16.6 trillion, customer deposits of TZS 10.9 trillion, and loan disbursements of TZS 10.4 trillion. These figures demonstrate its capacity to support major public and private sector projects across the region.

He also expressed gratitude to customers, shareholders, the government, partners and all stakeholders for being part of CRDB Bank’s success story. “Your unwavering trust and support have been instrumental in making CRDB Bank the industry leader for the past 30 years. We look forward to continuing this journey together as we expand our impact globally.”

The minister commended CRDB Bank’s achievements and its role in Tanzania’s economic growth. “Reaching 30 years of excellence is a remarkable milestone. CRDB Bank has played a pivotal role in our economy, and its expansion to Dubai cements its leadership. This move aligns with President Samia Suluhu Hassan’s vision of strengthening Tanzania’s global trade presence,” he stated.

He similarly recognized CRDB Bank as a top taxpayer and a key employer, with over 4,000 staff. “Your contributions to financial excellence and national development are commendable. It would be fitting for CRDB Bank to receive national honours for its impact in Tanzania and East Africa,” he declared.

The CRDB Bank chairman, Dr. Ally Laay, reflected on the bank’s legacy. “CRDB Bank was founded in the wake of strategic financial reforms to strengthen Tanzania’s financial sector. With strong government backing, our mission has always been to expand financial services and drive economic growth,” he stated.

He emphasized on the bank’s strong financial performance, which has consistently increased shareholder value. “Since 2010, our share price has grown from TZS 115 to TZS 700—an impressive 509 percent increase. Our dividend policy ensures at least 30 percent of net profit is distributed annually, with last year’s dividend reaching TZS 50 per share, a 525 percent growth since our 2009 listing.”

Looking ahead, CRDB Bank is committed to leveraging technology and strategic partnerships to expand globally while maintaining its leadership in Tanzania, Burundi and the Democratic Republic of Congo. The Dubai entry marks the beginning of a new era in financial integration, providing East African businesses with direct access to international markets.

The event was capped off with a historic drone light show, illuminating the Dar es Salaam skyline in a breathtaking display that amazed spectator