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CRDB shareholders to learn of dividend share end of week

CRDB Bank Plc’s managing director Abdulmajid Nsekela speaks in Arusha yesterday regarding the lender’s 26th Annual General Meeting and a shareholders’ investment seminar which will be held here at the weekend. With him is bank’s secretary John Rugambo (left) and corporate affairs director Tully Mwambapa. PHOTO | CITIZEN CORRESPONDENT

By  The Citizen Reporter

Media/news company

Mwananchi Communications Limited

What you need to know:

  • Last year, CRDB Bank Plc managed to break its 2015 record when its net profit jumped to Sh153 billion from Sh123 billion in 2019.

Arusha. CRDB Bank shareholders will know how much they will pocket in dividends for this year at the weekend when the company holds its 26th Annual General Meeting (AGM).

The AGM, to be held on Saturday at the Arusha International Conference Centre (AICC), comes at a time when the lender had published mouthwatering financial results for the year ending December 31, 2020.

Last year, CRDB Bank Plc managed to break its 2015 record when its net profit jumped to Sh153 billion from Sh123 billion in 2019.

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Prior to last year, the record net profit to have attained by CRDB Bank was Sh129 billion which was registered in 2015.

In absolute terms, last year’s profit before tax - which stood at Sh236 billion – was a 15 percent rise from profit before tax of Sh175 billion that was registered in 2019.

Bank’s managing director Abdulmajid Nsekela told journalists at the Mount Meru Hotel here yesterday that those shareholders who will not be able to attend the meeting in person in Arusha will be able to do so via a digital platform.

“Our 25th AGM last year was conducted virtually and it was from that meeting that shareholders recommended that the 26th one be conducted through the normal model but at the same time allow other shareholders to attend virtually,” he said.

The AGM will be preceded on Friday by a seminar whereby shareholders will be schooled on a number of issues pertaining to finance and investing in the capital markets.

Finance and Planning minister Mwigulu Nchemba will grace the event where experts in finance, law and investment in capital markets will take CRDB Bank Plc shareholders through a number of presentations.

Last year, over 1,400 shareholders took part in the bank’s virtual AGM in line with the national Covid-19 preventive measures.

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