Establistment of CRDB

CRDB BANK LIMITED is a private commercial bank. The Bank was established on July 1st 1996 to succeed the former Cooperative and Rural Development Bank (CRDB), which was a public institution with majority of shares held by the Government of the United Republic of Tanzania. The succession was a result of the liberalization of the banking industry in Tanzania. The liberalization which followed the enactment of the Banking and Financial Institutions act (BFIA) of 1991 and Government’s policy to divest its interest in the sector, prompted a recapitalisation of the Bank to levels stipulated by the BFIA (1991).