A remarkable journey toward success and growth of CRDB Bank Burundi

It’s been 12 years now since CRDB Bank officially opened its subsidiary company in Burundi, a dream that many people did not believe could one day be realized. Today, that dream has come true and shown that with strong leadership, vision, creativity, and determination, any goal you set can be achieved.

Mr Fredrick Siwale, the Managing Director of CRDB Bank Burundi since 2021, credits the bank’s achievements to strong leadership, targeted investments, and a clear growth strategy. “Reaching this milestone was not straightforward. It demanded dedication, continuous innovation, and close collaboration with key economic sectors,” he remarked.

Since 2012, CRDB Bank Burundi has focused on providing exceptional financial services to its retail clients, small and medium-sized enterprises (SMEs), and corporate customers. The bank continues to support economic growth by offering a variety of products and services that meet customer needs.

CRDB Bank Burundi has invested in digital services to improve customer access both in urban and rural areas. With over 1,500 agents across the country, the bank has made financial services more accessible, even in remote regions. Moreover, the number of branches has increased from six in 2021 to nine, with further expansion plans in areas such as Gitega and Makamba.

The bank also prioritizes key economic sectors, including agriculture which employs over 85% of Burundians and contributes more than 40% of foreign exchange earnings. Other sectors targeted by the bank include SMEs, large businesses, import/export enterprises, and infrastructure development.

Recognizing Burundi’s reliance on imported goods via the Port of Dar es Salaam, CRDB Bank has partnered with businesses and the government to improve transport infrastructure and facilitate logistics. The bank has also supported major development projects, including the construction of roads, electricity, and housing.

Thanks to these efforts, CRDB Bank Burundi has emerged as a market leader in profitability, loan issuance, and deposit mobilization. Its profits grew from BIF 9.2 billion ($3.9 million) in 2020 to BIF 44 billion ($15 million) in 2024. The total value of its assets increased from BIF 294 billion ($98 million) in 2020 to BIF 1.8 trillion ($600 million) in 2024.

Customer deposits rose from BIF 165 billion in 2020 to BIF 860 billion ($300 million) in 2024, while the total value of loans issued increased from BIF 133 billion in 2020 to BIF 915 billion ($306 million) in 2024.

Siwale praised Burundian borrowers for their loan repayment discipline, noting that the non-performing loan (NPL) ratio stands at only 1.2%. During its presence in Burundi, CRDB Bank has employed 208 permanent staff, 97% of whom are Burundians, with women comprising 45% of the workforce.

Partnership with the Government

CRDB Bank Burundi has played a key role in supporting government-led development initiatives. These include the $26 million expansion of the port on Lake Tanganyika, the $57 million expansion of Bujumbura International Airport, and major electricity projects worth $1.02 billion.

In addition, CRDB Bank Burundi is the main financier of the $2 billion Standard Gauge Railway (SGR) project linking Tanzania and the Democratic Republic of Congo (DRC) through Msongati.

The bank is also partnering with the Office of the President of Burundi to finance youth and women empowerment programs, including capital provision and entrepreneurship training.

In collaboration with the Ministry of Interior, Siwale stated that CRDB Bank has implemented a digital tax collection system, starting with 40 communities and aiming to reach all 129 within two years. This initiative is expected to enhance the efficiency of local government revenue collection.

As CRDB Bank marks its 30th anniversary since its establishment, it remains committed to delivering high-quality financial services, strengthening its business operations, and contributing to economic development in Burundi.

 As the first Tanzanian financial institution to expand beyond its borders, CRDB Bank also has plans for further expansion into other African markets and beyond.