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T A A R IF A YA M W AKA
We have been able to maintain our attributes of Progress, Stability and Security, even during stormy economic times.
Vielelezo Muhimu vya Kifedha
TAARIFA YA KIFEDHA/FINANCIAL DATA STATEMENT OF FINANCIAL POSITION (in Tshs "000") Jumla ya Rasilimali/Total assets Jumla ya Mikopo/Total loans and net advances to customers Jumla ya Madeni/Total liabilities Amana/Deposits Mtaji wa wanahisa/Shareholders’ funds TAARIFA YA MAPATO/STATEMENT OF COMPREHENSIVE INCOME (in Tshs 000") Mapato halisi ya Riba/Net interest income Mapato ya Ada na Kamisheni/Net fee and commission income Faida halisi/Net pro t Faida kwa ajili ya wanahisa wa Kampuni mama/ Net pro t attributable to equity owners of the parent company VIASHIRIA VYA UTENDAJI/PERFORMANCE INDICATORS Rejesho kwa wastani wa rasilimali zote/Return on average total assets Faida kwenye riba/Net interest margin Uwiano wa gharama kwa mapato/Cost-to-income ratio Kipato kwa hisa/Basic Earning per share KIWANGO CHA RASILIMALI/ASSET QUALITY Uwiano wa mikopo isiyofaa/Non-performing loans ("NPL") ratio Tengo kwa mikopo isiyofaa/Allowance to NPL Uwiano wa tengo kwa mikopo yote/Allowance to total loan ratio VIASHIRIA VYA TOSHO LA MTAJI/CAPITAL ADEQUACY INDICATORS Uwiano wa tosho la mtaji mkuu/Core capital adequacy ratio Uwiano wa tosho la mtaji/Total Capital adequacy ratio Uwiano wa jumla ya mtaji kwa jumla ya rasilimali/Total equity to total assets ratio 21% 21% 11% 17% 17% 10% 6% 30% 2% 4% 13% 1% 4% 10% 52% 22 5% 10% 52% 19 45,824,636 40,508,901 109,967,937 39,110,882 45,824,636 91,434,303 30,224,200 40,508,901 1,854,867,005 949,505,036 1,647,092,866 1,621,018,882 207,774,139 1,449,800,428 836,803,220 1,308,867,793 1,273,081,596 140,932,635 2009 2008
Viashiria vya wadhibiti sekta Regulatory Indicators Uwiano wa Ukwasi/Liquidity Ratio Uwiano wa Mikopo kwa Amana/Loan-to-deposit Ratio
Viwango vya wadhibiti Regulatory Standards >=20% <=80%
2009 32% 60%
2008 25% 66%
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
347 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 FAIDA HALISI NET PROFIT MIKOPO TOTAL LOANS 1.484 18.825 40.777 140.800 104.854.406 44.509 37.628 69.142.303 744.000 2 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .637 405.867 207.774 898.612 1.803 45.772 588.Vielelezo Muhimu vya Kifedha Financial Highlights 949.933 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 RASILIMALI TOTAL ASSETS MTAJI WA WANAHISA SHAREHOLDERS’ EQUITY Tarakimu/Figures: Tsh.505 836.669 1.325 26. 000.680 197.449.
Kimei Mkurugenzi Mtendaji Managing Director Bw. Charles S. Joyce W. Luhanga Mjumbe Member Bw. Muhegi Mjumbe Member Taarifa ya Mwaka [Annual Report 2009 Annual Report] 3 . Jens Ole Pedersen Naibu Mkurugenzi Mtendaji Deputy Managing Director Bi.Wakurugenzi wa Bodi Board of Directors Bw. Martin J. Boniface C. Mmari Mwenyekiti Board Chairman Dk.
Joseph C. Machange Mjumbe Member Bi. Lyimo Mjumbe Member Dk.Bw. Joyce N. Kai Kristo ersen Mjumbe Member Bi. Joachim Mjumbe Member Bw. Lydia M. Sylvia Temu Mjumbe Member Bw. Juma A. Abdulrahman Mjumbe Member 4 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Nyanza Mjumbe Member Bw. Bede P. Ally H. Laay Mjumbe Member Bw.
Wajibu Taarifa ya Mkutano Mkuu wa 15 wa Mwaka wa Wanahisa 133 134 | | Mtandao wa Huduma Taarifa za Kampuni Taarifa ya Mwaka [Annual Report 2009 Annual Report] 5 .Utawala Bora Tamko la Wakurugenzi .Yaliyomo Contents 1 3 6 7 12 18 30 48 59 63 65 67 68 69 70 72 73 131 133 134 | | | | | | | | | | | | | | | | | | | | Financial Highlights Board of Directors Letter of Transmittal Vision and Mission Chairman’s Statement Managing Director’s Report Operating Activities Report of the Directors Directors’ Statement on Corporate Governance Statement of the Directors’ .Responsibilities Report of the Independent Auditors Consolidated and Bank Statement of Comprehensive Income Consolidated and Bank Statement of Financial Position Consolidated Statement of Changes in Equity Bank’s Statement of Change in Equity Consolidated and Bank Statement of Cash Flows Notes to the Financial Statements Notice of the 15th Annual General Meeting Service Points Company Information 1 3 6 7 9 16 21 39 56 62 129 | | | | | | | | | | | Vielelezo Muhimu vya Fedha Wakurugenzi wa Bodi Barua ya Kuwasilisha Dira na Azma Taarifa ya Mwenyekiti Taarifa ya Mkurugenzi Mtendaji Shughuli za Mwaka Taarifa ya Wakurugenzi Tamko la Wakurugenzi .
achievements and future business prospects. Taarifa hii ina hesabu za mwaka ulioishia tarehe 31 Disemba 2009. The report contains the annual accounts. Ninayo furaha kuwasilisha kwenu Taarifa ya Mwaka 2009. Wenu mwaminifu. Yours faithfully. major events. Martin Mmari. It is a pleasure to present to you the Bank’s Annual Report for the year 2009. matukio na maendeleo muhimu pamoja na matarajio ya biashara ya hapo baadaye. Martin Mmari Chairman of the Board of Directors CRDB Bank Plc 6 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Benki ya CRDB Dear Shareholders and Customers. Mwenyekiti wa Bodi ya Wakurugenzi.Barua ya kuwasilisha Letter of Transmittal Wapendwa Wanahisa na Wateja Wetu.
Azma Huduma bora za kibenki Kutoa huduma bora na kwa gharama nafuu. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 7 CRDB Bank Plc Taarifa ya Mwaka [ Annual Report ] . Mission Quality Banking Service To provide quality and competitive nancial services with a strong focus on retail banking and customized corporate and institutional services while ensuring con dence and trust from stakeholders.2009 . ikizingatia wateja wadogo na wa kati. na huduma binafsi kwa makampuni makubwa huku tukidumisha imani ya wadau wetu.Dira na Azma Vision and Mission Dira Benki inayoongoza Tanzania Kuwa benki inayoongoza. Vision The leading Bank in Tanzania To be the leading bank which is customer need driven with competitive return to shareholders. inayozingatia mahitaji ya wateja na kuwapa wanahisa faida nzuri.
“ Pamoja na hali ya uchumi kuwa haitabiriki kwa kipindi cha 2010. Benki itaendelea kujizatiti katika kusimamia mfumo wake wa kibiashara. huku ikijikita katika kupata fursa mpya za biashara. Mwenyekiti wa Bodi ya Wakurugenzi Chairman of the Board of Directors 8 Taarifa ya Mwaka [Annual Report 2009 Annual Report] “ kutumia viashiria vipya vya kubaini athari . Martin Mmari. Benki itaendelea za kibiashara ili kulinda mtaji wa biashara kwa maslahi ya wateja na wanahisa.
Katika kipindi hiki. Benki ililazimika kutumia mfumo mpya wa kibiashara ili kupunguza athari za mdororo wa uchumi duniani.Taarifa ya Mwenyekiti Kwa niaba ya Bodi ya Wakurugenzi wa Benki ya CRDB. Mwaka 2009 ulishuhudia changamoto nyingi katika uendeshaji wa biashara katika masoko ya fedha. Sambamba na hili. Mkakati wa serikali wa kunusuru uchumi kutokana na athari za mdororo wa masoko ya fedha duniani ulitangazwa na Mh.621 bilioni mwishoni mwa mwezi Disemba 2009. ilifanya vizuri katika biashara yake. kahawa. mwaka 2009. Mtikisiko huu ulianza kwa kuzikumba nchi zilizoendelea za Ulaya na Marekani. Pia Benki ilitumia fursa iliyotolewa na serikali mwezi Juni 2009 katika kuwadhamini wanunuzi wa kahawa na pamba. kulikuwa na mfumuko mkubwa wa bei. ninayofuraha kutoa ripoti ya Benki kwa mwaka ulioishia tarehe 31 Disemba 2009. kutoka shilingi 1. Kwa muktadha huu. Hali hii ilisababisha mazao ya biashara hususani pamba. Pia Benki iliweka mikakati mahsusi ya kupunguza gharama mbalimbali za uendeshaji na kuboresha usimamizi wa makusanyo ya ada mbalimbali. Mdororo wa uchumi wa dunia. Mabenki mengi ya Ulaya yakiongozwa na ya Marekani yalishusha riba zao katika masoko ya fedha na mitaji. Rais Jakaya Mrisho Kikwete.855 bilioni mwaka 2009. ili kulinda mtaji wa Benki usiathiriwe na mdororo wa uchumi duniani. Hali ilikuwa ya mkanganyiko na mparaganyiko mkubwa katika biashara ya kimataifa na kitaifa pia. Katika robo ya kwanza ya mwaka 2009. Benki iliweka mikakati mipya ili kutambua viashiria hatari katika mazingira halisi ya biashara. hata hivyo hali hii haikusaidia kuimarisha uchumi wa dunia. Amana ziliongezeka kwa asilimia 27. kupunguza uagizaji wa bidhaa mbalimbali kutoka mataifa yanayoendelea ikiwemo Tanzania. korosho na biashara ya utalii kuathiriwa sana. Mazingira ya Biashara Kwa ujumla mwaka 2009 ulikuwa na mazingira magumu sana ya biashara kutokana na mtikisiko wa uchumi duniani ulioanza mapema mwaka 2007. ulisababisha mataifa yaliyoendelea.450 bilioni mwishoni mwa mwezi Disemba 2008 mpaka ku kia shilingi 1. na thamani ya shilingi ilishuka. Benki ya CRDB.3 mpaka ku kia shilingi 1. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 9 . rasilimali za Benki ziliongezeka kwa asilimia 28. Benki iliboresha taratibu na masharti katika utoaji mikopo kwa wateja wakubwa na wadogo ili kulinda mtaji wa biashara. Matokeo Pamoja na mtikisiko ulioukumba uchumi wa dunia. hata kuendelea kuwa benki bora nchini.
Maendeleo ya Biashara Benki imeendelea kutekeleza mikakati kwa lengo la kukuza biashara ya Benki kwa wateja wadogo na wakubwa kama ilivyokusudiwa kwenye mkakati wa biashara wa Benki. kuongezeka asasi zinazoshirikiana na Benki. Benki itaendelea kujizatiti katika kusimamia mfumo wake wa biashara. Pia bidhaa na huduma za Benki zimeendelea kupitiwa na kuboreshwa ili kukidhi matakwa ya wateja. Benki itaendelea kutumia viashiria vipya vya kubaini athari za kibiashara ili kulinda mtaji wa biashara kwa maslahi ya wateja na wanahisa. Baada ya kodi. kwa bei ya IPO ya shilingi 150 kwa hisa. 2009. Mwaka 2009.2 bilioni. Mafanikio makubwa yaliyo kiwa ni pamoja na kupanua njia za ku kisha huduma kwa wateja kwa kufungua matawi mapya.4 bilioni lililotolewa mwaka 2008. faida ilikuwa shilingi 46 bilioni ikiwa ni ongezeko la asilimia 15 ikilinganishwa na shilingi 40. kuweka mashine mpya za kutolea fedha (ATMs) na kusambaza mashine za malipo (Point of Sale machines). Utekelezaji wa maazimio ya Mkutano Mkuu maalum wa wanahisa ulikwenda sambamba na gawio la hisa 1 ya bonasi kwa kila hisa 1. Benki iliorodheshwa rasmi katika soko la hisa tarehe Juni 17.Benki ilipata faida kabla ya kodi ya shilingi 62 bilioni ikilinganishwa na faida kabla ya kodi ya shilingi 60 bilioni katika mwaka wa 2008. Gawio Bodi ya Wakurugenzi itapendekeza kwenye Mkutano Mkuu wa wanahisa gawio la shilingi 7 kwa hisa.5 bilioni zilizopatikana mwaka wa 2008. huku ikijikita katika kupata fursa mpya za kibiashara. 2008. pia gawio la hisa stahili 1 kwa kila hisa 10. Benki ilipata mafanikio kwa kuorodheshwa katika Soko la Hisa la Dar es Salaam (DSE). Mchakato wa kuorodheshwa katika soko la hisa ulifuatia utekelezaji wa maazimio ya Mkutano Mkuu maalum wa wanahisa uliofanyika Disemba 6. Matarajio Pamoja na hali ya uchumi kuwa haitabiriki kwa kipindi cha mwaka 2010. pia hisa kugawanywa katika mafungu manne sanjari na IPO. ikiwa ni ongezeko la mara tatu na nusu katika mwaka likilinganishwa na jumla ya gawio la shilingi 4. Jumla ya gawio ni shilingi 15. 10 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . hali mradi matakwa ya sheria yawe yamezingatiwa. Bodi ya Wakurugenzi ilipitia sera ya gawio na kuweka ukomo wa chini wa asilimia 35 ya faida ya mwaka.
Taarifa ya Mwaka [Annual Report 2009 Annual Report] 11 .
Chairman's Statement 12 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .
Total amount of dividend to be paid out is Tshs. Also.2 billion. This will be undertaken within a framework of prudent risk management to ensure capital and liquidity by protection and value creation for all our customers and shareholders. including o er of bonus shares at a rate of 1 to1. During the year. Changes in the Board I would like to report changes in the Board during the year. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 13 . The Board has reviewed Dividend Policy in 2010 to the e ect that annual dividend payment will at least be 35 percent of net pro t earned. Prospects for 2010 In 2010 and despite unpredictable economic conditions. This translate to increase of dividend by three and half times. a rights issue at a rate of 1 for each of 10 shares held. the Bank continued to pursue strategies aimed at ensuring growth in retail and corporate banking business as envisaged in the Bank’s Business Strategy. substantially higher than Tshs. Machange o ered for re-election and were duly re-elected. Joseph C. Sylvia S. the Bank also achieved the milestone of getting its shares listed at the Dar es Salaam Stock Exchange (DSE). recruitment of new micro nance partners. 7 per share.15. 2008. The process started with implementation of the resolutions made at the Extra-Ordinary Shareholders’ Meeting held on December 6.4 billion paid in 2008. Luhanga. Key milestones include expansion of service delivery channels by opening new branches. Temu and Mr. Dr. 150 per share. CRDB Bank will remain focused on maintaining its core business model and developing opportunities for growth on a conservative and sustainable basis. Sylvia S. I welcome him to the Board. Luhanga and Mr. The actual listing took place on 17 June 2009 at IPO price of Tshs. split of shares into 4.Business Development During the year. Joseph C. Ms. Ms. products and services were repackaged and enhanced in line with changing customer demands. and an IPO (public o er). Juma A. I wish to recognize her valuable contributions to the Board and wish her well in her future endeavors. Dividend The Board will recommend to the Annual General Meeting a dividend of Tshs. Temu served in the Board since 2004. Abdulrahman was elected for the rst time. provided that business and regulatory requirements are met. Dr. Mr. 4. installation of new ATMs and Point of Sale machines. Machange retired. At the Annual General Meeting held on 20th June 2009. Joyce W. Joyce W.
the Bank of Tanzania and shareholders for their ongoing support and to the management and sta whose commitment and professionalism underpins our success. Martin Mmari Chairman CRDB Bank Board of Directors 14 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . I would like to extend my appreciation to our customers.Acknowledgement I am most thankful to the members of the Board of Directors for strong support they have continued to give me. It is my hope that the Bank will be able to sustain its performance in the years ahead despite economic challenges. the Government.
Charles Kimei Mkurugenzi Mtendaji Managing Director Taarifa ya Mwaka [Annual Report 2009 Annual Report] 15 .
Mpaka mwishoni mwa mwaka 2009. yakaboreshwa na kufanywa ya kisasa zaidi. Sambamba na maboresho haya. Huduma za biashara kwa wateja wadogo na wa kati (SMEs) ziliendelea kuboreshwa katika matawi yote ya Benki. yaani Trade Finance. mwaka 2009 katika robo ya kwanza. Katika robo ya pili ya mwaka ubadilishaji wa mtambo mkuu wa kompyuta wa Benki wa ‘Bankmaster’ kwenda mfumo mpya wa kisasa zaidi wenye chapa ya “The Bank Fusion . Pia uimara wa Benki katikati ya msukosuko wa uchumi duniani umedhihirisha ubora wa mpango mkakati wa Benki katika kuendesha na kusimamia utendaji kibiashara. Benki ya CRDB ilijizatiti kupunguza athari mbaya za mtikisiko wa uchumi duniani katika biashara ili mahesabu na mizania (balance sheet) yake isivurugike. ukwasi (liquidity). Mpango mkakati wa Benki sanjari na mfumo wake unalenga kuendesha biashara katika mifumo tofauti tofauti kuhakikisha kwamba rasilimali za Benki zimewekezwa kwenye mikondo ya aina nyingi pamoja na kuwahudumia wateja reja reja (retail banking). Benki iliboresha huduma za kibenki kwa njia ya simu za mkononi kwa kuweka mfumo mpya. matawi mawili ya Songea na Shinyanga yalifanyiwa ukarabati mkubwa. Benki iliendelea kutekeleza mikakati yake kibiashara kwa kutumia teknolojia bora iliyopo katika soko. Mtikisiko wa kiuchumi duniani uliziathiri sana taasisi za fedha duniani kote.Taarifa ya Mkurugenzi Mtendaji Mwaka 2009 ulikuwa ni mwaka mgumu kibiashara katika masoko ya taasisi za kifedha za kitaifa na kimataifa. Uwezo wa Benki katika kudhibiti athari za mtikisiko wa uchumi duniani. Benki iliboresha mfumo wake wa kuendesha shughuli zake na kuweka mfumo wa kisasa zaidi katika idara ya Hazina na ile ihusikanayo na biashara za kimataifa. matawi mapya 6 yalikuwa yamefunguliwa na matawi mengine 10 yalikuwa katika hatua mbalimbali za ujenzi. umedhihirisha kwamba Benki ya CRDB imejengwa katika misingi imara ya kanuni za kibenki. ubora wa amana. Huduma hii ilipewa nembo ya ‘CRDB SimBanking’. Benki ilipata mafanikio makubwa ikiwa ni pamoja na kusogeza huduma zake karibu zaidi na wateja kwa kupanua mtandao wake kwa kasi zaidi. Aidha. Pia huduma za Micro nance ziliendelea kuimarika ambapo asasi shiriki ziliongezeka kutoka 376 mwaka 2008 mpaka ku kia 425 mwaka 2009. Katika misingi hii tunao uwezo wa kuchukua tahadhari katika kudhibiti athari za mtikisiko katika mikopo. Kwa mantiki hii. Mashine za kutolea fedha (ATMs) 32 zikiwemo za Easy Deposit yaani zile ATM ambazo mteja anaweza kuweka fedha katika akaunti yake ziliongezwa katika mtandao wa Benki na kufanya jumla ya ATM zinazofanya kazi kuwa 132. Katika mwaka 2009. kudhibiti hatari katika biashara na gharama za uendeshaji biashara bila kubadili msingi wa dira yetu. Benki ya CRDB pia iliathiriwa na mtikisiko wa masoko ya fedha na uchumi duniani.1 mwishoni mwa mwaka 2009. Hii inadhihirisha dhamira ya Benki kuwa kia watu wengi zaidi ambao bado hawajawa na huduma za kibenki. Mikopo iliyotolewa kwa wateja iliongezeka kwa asilimia 95 kutoka shilingi bilioni 60 mwaka 2008 hadi shilingi bilioni 118. 16 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .Universal Banking” ulianza .
Kwa upande wa maendeleo ya bidhaa na huduma za Benki. Rasilimali ziliongezeka kwa asilimia 28 mpaka ku ka shilingi bilioni 1. mazingira mazuri ya biashara.3 mpaka shilingi bilioni 1. Benki ya CRDB ilifanikiwa kumaliza mwaka kwa faida. Kwa mara ya kwanza Benki ilianzisha Mkataba wa Huduma kwa Wateja (Customer Service Charter) na kutoa msisitizo kwa kila mfanyakazi wa Benki aishi na kufanya kazi kwa kuzingatia ahadi zilizo kwenye ‘Customer Service Charter’. Tutaendelea kudhibiti hatari (risks) kwa biashara zetu na kuendelea kufanya upembuzi yakinifu ili kupata maeneo muafaka kwa biashara. kuwa wabunifu na kuendelea kuboresha huduma kwa wateja. Amana za wateja ziliongezeka kwa asilimia 27. tuna uhakika wa kufanikiwa pamoja na changamoto zilizopo. Benki ilizindua mpango maalum wa kujiwekea akiba kwa wanawake. Napenda kuchukua fursa hii kuwashukuru wadau wote. wanahisa na wafanyakazi wataunga mkono jitihada hizi zote.855 kutoka shilingi bilioni 1. kutimiza malengo tuliojiwekea. kwa kupitia akaunti maalum ya Malkia. mkazo ulikuwa katika kuzipitia upya bidhaa zetu ili kuzipa ubora ambao utakidhi mahitaji ya wateja kwa sasa. Tutaendelea kuimarisha ufanisi kitaaluma na kutilia mkazo maadili mema ya utendaji kazi kwa wafanyakazi. pia wateja wetu. hii imedhihirisha imani kubwa waliyonayo wateja kwa Benki ya CRDB. Mikakati yote hii ni katika kulinda mtaji wa biashara wa Benki. Benki iliongeza tengo la fedha (provisions) kukidhi hatari ya hasara inayoweza kutokana na mikopo na ku kia shilingi bilioni 18. Hata hivyo kwa kuwa na teknolojia mpya iliyo bora tangu 2009. serikali na wasimamizi wa taasisi za kifedha (regulators) kwa imani yao kwetu na kwa mchango wao kwa mafanikio yote tuliyopata mwaka 2009.9 ya mikopo iliyotolewa ya jumla ya shilingi bilioni 950 ku kia Disemba 2009. ambapo faida kabla ya kodi ilikuwa shilingi bilioni 62 ikilinganishwa na shilingi bilioni 60 kwa mwaka 2008.0 mwaka 2008. Mikopo iliongezeka kwa asilimia 14 na ku kia shilingi bilioni 950 ikilinganishwa na shilingi bilioni 837 mwaka 2008.2 ikilinganishwa na shilingi bilioni 5. na timu imara ya wafanyakazi makini waliobobea katika taaluma ya kibenki. Jumla ya rasilimali ziliongezeka kutokana na ongezeko la amana pamoja na usimamizi bora wa madeni.449 mwaka 2008. Kimei Mkurugenzi Mtendaji Taarifa ya Mwaka [Annual Report 2009 Annual Report] 17 . Charles S. Mwaka 2010 unatarajiwa kuwa na changamoto nyingi zaidi. sanjari na kudhibiti gharama za uendeshaji. Kiasi hiki cha tengo kilikuwa sawa na asilimia 1.621. Faida iliyopatikana mwaka 2009 ilitokana na mpango mkakati wa Benki katika kudhibiti hatari (risks) zote katika biashara na masoko kwa ujumla. na kuzalisha faida na gawio zuri kwa wanahisa wetu. Ni matumaini yangu kuwa Bodi ya Wakurugenzi. Tumejizatiti kuendelea kutekeleza mikakati na kanuni endelevu za kibiashara.
This latter product enables customers to bank through their cellular phones.tax pro t of Tshs. 62 billion compared to Tshs.118.1 billion at end of 2009. CRDB Bank achieved several milestones . It also demonstrates the robustness of our business strategy and model which focuses on portfolio diversi cation and retail banking. in its e orts to bring services closer to customers the Bank speeded up network expansion.Managing Director’s Report The year 2009 was an exceptional year marked by the global nancial crisis and challenges for markets and nancial institutions everywhere in the world. the Bank initiated a Customer Service Charter and sensitized all its sta to live by the promise made therein to customers. 2 existing branches (Shinyanga and Songea) were refurbished and expanded. The Bank continued to implement. 32 ATMs. were added to the network bringing the total operating ATMs to 132. 60 billion in 2008 to Tshs. among others. The Bank increased its 18 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . implementation of a new Core Banking System . but not limited to. six new branches had been opened while another 10 were in various stages of construction. its key strategy of making sure that the operations are supported by the cutting edge technology available in the market. our focus from early in the year was geared at anticipating and mitigating. posting a pre. The Bank introduced a special saving plan account targeting. CRDB Bank was able to end the year on a positive pro tability note.the Bank Fusion-Universal Banking (BFUB) was initiated in the second quarter of the year. As at the end of 2009.and I would mention only a few here. demonstrating our commitment to serve the broader Tanzanian population that has never seen banking before. including Easy Deposit ATMs that accept cash deposits. and upgrade of its SMS Banking to new platform and re-branding it ‘CRDB SimBanking’. its adverse impact on the Bank’s nancial performance and balance sheet. The number of partnering Micro nance Institutions (MFIs) rose from 376 in 2008 to 425 in 2009. The Bank’s ability to wither the storm re ects the strong foundations on which we have built our Bank. Moreover. risk and cost management without changing our basic strategies. women with a brand name of “Malkia Account”. 60 billion for 2008. Moreover. asset quality. Pursuant to this the Bank completed in the rst quarter of 2009 the overhaul and automation of processes in the Treasury and Trade Finance units. In the year under review. In the area of product development focus was put on repackaging and enhancing features of existing products in line with changing customer demands. While CRDB Bank was not immune from the e ects of the crisis. liquidity. The specially-tailored SME programme was fully mainstreamed in all branches with its loan portfolio increasing by almost 95% from Tshs. We were therefore able to respond to the crisis by taking precautionary and corrective measures with particular focus on loans. For the rst time also. First. The Bank’s pro ts for 2009 were impacted by our conservative stance towards prevailing market and business risks. to the extent possible.
Assets growth was accelerated with focus directed towards deposit accumulation and liability management. Charles S. shareholders and sta . Kimei (Dr) CEO & Managing Director Taarifa ya Mwaka [Annual Report 2009 Annual Report] 19 .provisions to Tshs.855 billion from Tshs. supported by the IT platforms that we have implemented in 2009 as well as strong.2 billion compared to Tshs.9% of total outstanding loans and overdrafts of Tshs. As always.449 billion recorded in 2008. 1. I want to extend my sincere thanks to all of them. 950 billion at December 2009. We will continue our e ort on risk mitigation. while total assets growth reached Tshs. with the sound business platform we have created. 5. However. 950 billion compared to Tshs. we are sure to emerge as strong winners from these challenges. This decision will maintain our speci c provisions against identi ed problem loans at 1. and appreciation to our customers. 18.1. customer deposits increased by a solid 28% to Tshs.621 billion. and observe professionalism and integrity.0 billion in 2008 to adequately cover identi ed loan risks. The net loan portfolio grew by 14% to Tshs. we still expect to face unprecedented challenges. remain innovative and pro-active in customer service improvement. re ecting our customers’ strong underlying con dence in the Bank. professional and committed workforce. 837 billion in 2008. In 2010. We will pursue our well known principles: stay focused on planned targets. 1. and target selective business growth opportunities while implementing cost management measures across all areas of our business and ensuring that capital preservation is always the foremost priority. I am reassured that in these endeavors we will get guidance and strong support from our Board of Directors. the Government and all our Regulators for their loyalty and invaluable contribution to our achievements in 2009. As a result.
• Bure • Ukiwa popote duniani • Kupitia intaneti ya simu 20 Taarifa ya Mwaka [ ] 2009 .
Sekta za ujenzi. kutokana na ukuaji mdogo wa mikopo iliyotolewa na mabenki kwa sekta binafsi. Ukuaji katika sekta ya ujenzi unatarajiwa kutokana na misaada toka nje hasa katika ujenzi wa miundombinu ya barabara na nishati. Kutokana mgogoro wa kifedha duniani.5.6 kwa mwaka 2009. Matarajio ya Ukuaji wa Uchumi kwa Mwaka 2010 Uwekezaji wa kutoka nje. Hali ya Mfumuko wa Bei Kiwango cha mfumuko wa bei kwa mwaka kimekuwa kikibadilika mwezi hadi mwezi hadi ku kia Disemba 2009.2 kwa mwaka. serikali iliandaa mpango wa kuchochea uchumi na kupunguza athari zitokanazo na mgogoro wa uchumi kwa taasisi za fedha na hasa benki za biashara. Pamoja na athari Taarifa ya Mwaka [Annual Report 2009 Annual Report] 21 . Kwa ujumla. biashara na utalii kwa ujumla vinatarajiwa kuanza kukua katika kipindi cha mwaka 2010. usa rishaji na huduma za kifedha. lakini kwa wastani kilikuwa ni asilimia 12. bei za vyakula zilikuwa juu kutokana na gharama za usa rishaji na miundombinu mibovu pamoja na uuzaji wa vyakula nchi jirani ambazo zilikuwa na uhaba wa chakula. ukuaji uliodorora wa uchumi wa dunia na mahitaji madogo kwa mazao ya kilimo vitaendelea kuathiri ukuaji wa uchumi wa Tanzania. Ukuaji katika sekta ya huduma unatarajiwa kuchangiwa zaidi na ukuaji wa mawasiliano ya simu. Licha ya mavuno ya kutosha mwaka 2009. Matunda ya juhudi za serikali yalianza kuonekana mwishoni mwa mwaka 2009.5 kwa mwaka 2009.SHUGHULI ZA MWAKA MAPITIO YA UCHUMI Hali ya Uchumi Kwa zaidi ya miaka minne mfululizo uchumi wa Tanzania ulikua kwa wastani wa asilimia 7. wastani wa ukuaji wa mikopo kwa mwaka kwa sekta binafsi ulipungua kutoka asilimia 26 mwaka 2008 mpaka asilimia 17. ukuaji wa uchumi wa Tanzania ulipungua mpaka asilimia 5. Pato la taifa linatarajiwa kukua kwa kiwango cha asilimia 6.4 ukilinganisha na ongezeko la asilimia 25. Maendeleo Mengineyo ya Kiuchumi Ujazi wa Fedha na Sarafu za Nchini Katika kipindi cha mwaka 2009. kahawa na mazao ya bustani (horticulture). madini pamoja na huduma zinatarajiwa kufanya vizuri.9 mwaka 2008. Zaidi ya hayo. Kwa mwaka 2009. Hata hivyo. Mgogoro wa uchumi duniani ulipelekea kupungua kwa mahitaji na bei za mazao makuu ya biashara yauzwayo nchi za nje hasa pamba. Ongezeko la ujazi wa fedha kwa tafsiri pana (M3) lili kia asilimia 18. ongezeko la fedha nchini lilikuwa la wastani.5 kwa mwaka 2010 ikilinganishwa na asilimia 5. Ongezeko la mfumuko wa bei lilichangiwa hasa na ongezeko la bei za vyakula. mapato yatokanayo na biashara za utalii na usa rishaji na pia uwekezaji toka nje uliathirika vibaya na hali hiyo.6 kwa mwaka 2009. Moja ya fundisho la mgogoro wa uchumi duniani ni kuwa uchumi wa nchi unatawaliwa na sekta za kilimo na madini na hii inalazimisha Benki na taasisi za kifedha kuandaa sera na mikakati ya kutoa mikopo na huduma nyingine za kifedha kwa sekta hizi.
Kwa mwaka huu wa 2009 Benki ilifungua matawi 6 ambayo ni: Marangu. Ili kuboresha huduma kwa kundi hili la wateja. 22 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Benki imeanza kukamilisha mabadiliko ya mfumo wake wa utoaji huduma wenye lengo la kujumuisha na kurahisisha utoaji wa huduma katika matawi na benki nzima kwa ujumla. Benki iliendeleza jitihada zake za kupanua mtandao wake wa matawi (ya kawaida na yanayotembea) ili kufanikisha azma yake ya kuwa na tawi katika nusu ya wilaya zote za nchi i kapo mwaka 2012. Kampuni yetu tanzu ya Micro nance pia imeongeza asasi shiriki na ku kia 425 toka 376 mwaka 2008. Benki inategemea kuzindua rasmi mfumo huu katika robo ya kwanza ya mwaka 2010. Biashara ya Kadi Biashara ya kadi imeendelea kuleta manufaa kwa wateja wa aina zote na mwaka 2009 ulikuwa ni mwaka ulioshuhudia mabadiliko makubwa katika biashara ya kadi. Kibaha. TemboCardVisa ni kadi pekee Tanzania iliyopata uthibitisho kamili wa ‘EMV compliance’.zinazotokana na miundombinu na sera ya soko la vyakula kuendelea kuweko. mwenendo unaashiria kuimarika kwa bei za mafuta duniani ambako kutachangia kupungua kwa mfumuko wa bei mwaka 2010. Mabadiliko ya kiteknolojia yameiwezesha Benki kupanua mtandao wake wa mawasiliano kwa matawi yote hivyo kuongeza tija katika kufanikisha miamala ya kibenki na kuziongezea uwezo mashine za kuweka na kutolea fedha (ATM). Upanuzi wa Mtandao wa Benki Mwaka 2009. Nyanza na Mabibo. SimBanking na POS). Kadi za Benki ya CRDB zimefanyiwa marekebisho na kuweza kukidhi viwango vya kimataifa kwa usalama thabiti wa kadi ‘EMV compliance’ na sasa inawapa wateja wake wa TemboCardVisa kadi ambazo ni salama zaidi. kuimarisha usalama kwa watumiaji na kuongeza ushindani kwa mawakala wa Benki kwa kutoa huduma kwa urahisi zaidi. UTENDAJI WA BENKI YA CRDB MWAKA 2009 HUDUMA ZA KIBENKI KWA WATEJA WA REJAREJA Mwaka 2009 ulikuwa wa kuimarisha ukuaji na uongezekaji wa huduma za kibenki na uwezo wa Benki kutoa huduma kwa wateja binafsi na wafanyabiashara wadogo wadogo. Kariakoo. Benki ilitekeleza mikakati mingi ikiwemo ufunguzi wa matawi mapya. Mifumo hii itaiwezesha Benki kutoa huduma bora zaidi na zenye tija. Zanzibar. Benki imeendelea na mipango yake miwili mikubwa ya kuboresha huduma kwa wateja katika matawi pamoja na kuwaongezea wateja huduma bora zaidi za kiubunifu zikiambatana na njia mbadala za utoaji wa huduma ili kukidhi mahitaji yao (internet banking. Maendeleo haya yanaifanya Benki kushikilia nafasi ya pili kwa ukubwa kwa kipimo cha matawi. lengo likiwa ni kuongeza mapato. uingizaji sokoni huduma bunifu na mipango iliyowezesha Benki kujijenga zaidi kwenye soko kama Benki imara na endelevu.
Uboreshaji huu unawawezesha wateja wetu kupata taarifa za kila muamala upitao kwenye akaunti zao. Hadi mwishoni mwa mwaka zaidi ya shilingi 7 bilioni zilikuwa zimetolewa kama mikopo kwa vyama vya wakulima mkoani humo.156 yenye wastani wa shilingi 50 milioni kwa kila mkopo ilitolewa. Katika mikopo yenye thamani ya shilingi 99. Mwaka 2009. na zaidi ya vituo 502 vya wafanyabiashara wanaopokea malipo kwa kutumia vifaa vya POS. Huduma za Wateja Wadogo Wadogo (Micro nance) Kwa mwaka 2009. Biashara hii inatarajiwa kukua maradufu kutokana na ufunguzi wa tawi la Benki katika visiwa vya Zanzibar. Hadi mwisho wa mwaka 2009.8 bilioni iliyotolewa kwa sekta hii ni shilingi 40 billioni tu ambazo hazijarejeshwa (ambazo muda wa kurejeshwa hauja ka). zaidi ya mikopo 1.75 bilioni kwa mwaka 2009. huduma kwa wateja wenye shughuli ndogo ndogo zilizotolewa na Kampuni Tanzu ya CRDB Micro nance Company zilishuhudia ukuaji mkubwa na kusambaa kwake kwenye mikoa 23 kati ya mikoa 26 ya Tanzania na kuzi kia wilaya 112 kati ya wilaya zote 136 za nchi hii kupitia asasi washirika 425 wanaowezesha utoaji wa huduma za kifedha kwa wajasiriamali Taarifa ya Mwaka [Annual Report 2009 Annual Report] 23 . Benki pia ilianzisha mfumo maalum wa kutoa mikopo kwa kununua korosho katika maghala mkoani Lindi. mikopo iliyo hatarini ilikuwa asilimia 1. Hii inamaanisha kuwa mikopo hii imekuwa ikirejeshwa katika muda muafaka.58. Lakini kwa kipindi kifupi tu Benki imefanikiwa kupata mawakala zaidi ya 30.Kwa umakini mkubwa. Benki haikuwahi kuwa na mawakala wa biashara ya kadi visiwani humo kabla ya mwaka huu. Riba na mapato mengine yatokanayo na mikopo yali kia zaidi ya shilingi 6. Mwaka 2009. Biashara hii ya kufadhili mauzo ya zao la korosho inatarajiwa kuongezeka sana kutokana na ukweli kuwa mfumo huu umeanza kufahamika kwa wadau wengi wa sekta hiyo. papo kwa papo (online). Benki ilikuwa na zaidi ya kadi 605. TemboCard za TRA na TANAPA ambazo ni kadi maalum kuhudumia wateja wa TANAPA na TRA ziliboreshwa ili kufanya kazi katika mfumo wa kisasa zaidi unaounganishwa moja kwa moja na mtandao wa Benki. Hili ni ongezeko la shilingi 20 milioni ikilinganishwa na wastani wa shilingi 30 milioni kwa mwaka uliopita. Hadi ku kia mwishoni wa mwaka 2009.936 sokoni. Biashara ya Wateja Wadogo na wa Kati Mikakati iliyofanywa mwaka 2009 kwa wateja wadogo na wa kati ilisababisha ongezeko la wateja na biashara kwa Benki kwenye mikopo na amana na kuingiza mapato zaidi. Biashara ya huduma kwa wateja wadogo na wa kati imeendelea kukua kila mwaka kama ilivyojionyesha kwenye ongezeko la mikopo na amana kutoka kwenye kundi hili. Mikopo yote pamoja na riba stahili ilirudishwa katika muda muafaka. Benki ililenga kuliteka soko la Zanzibar ambalo lina utajiri mkubwa wa biashara za utalii na burudani.
Katika mwaka huu. Katika mwaka wa 2009 wafanyakazi wa kitengo cha Benki kinachohudumia wateja wa mashirika na taasisi kilifanikiwa kukusanya amana kutoka katika taasisi mbalimbali za kiserikali na zisizo za kiserikali kwa kutumia mtandao wetu wa kibenki nchini kote. katika mwaka 2009 Benki iliendelea kutoa mikopo kwa sekta nyingine za uchumi na kuendelea kufadhili biashara za kimataifa kwa wateja wake katika tasnia mbalimbali za uchumi. • Uboreshaji wa ufanisi wa asasi washirika kwa kuwasaidia kutekeleza programu ya kompyuta yenye kurahisisha uendeshaji wa masuala ya kifedha (CRDB Finance solution software).8 bilioni mwishoni mwa mwezi Disemba. • Utekelezaji wa mpango unaolenga kufadhili kilimo katika vituo mbali mbali vya uongezaji thamani (value chain) kutoka hatua ya kulima hadi sokoni. Suluhisho hili limeshapelekwa kwa zaidi ya asasi washirika 70 na kwa kiasi kikubwa umesaidia kudhibiti hatari na hivyo kuboresha utendaji.4 kutoka shilingi 836. Mojawapo ya mafanikio ya kujivunia ni juhudi za maa sa biashara wa kimataifa na timu za maa sa uhusiano wetu zilizopelekea kupata biashara na kutoa huduma kwa wateja muhimu katika sekta mbalimbali za uchumi. 24 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .571.476 wadogo wadogo. 2008 mpaka shilingi 1.5 bilioni mwezi Disemba 2009. Sehemu kubwa ya amana ya Benki ambazo zilikua kutoka shilingi 1. mikopo kwa wateja wakubwa ilitawaliwa na ukuaji mdogo na uchaguzi wa maeneo au sekta za kuongezea mikopo na kuzingatia umuhimu wa kuendelea kufanya biashara na baadhi ya wateja waliopata misaada toka serikalini ili kuchochea mchango wao katika uchumi. HUDUMA KWA WATEJA WAKUBWA Katika mwaka 2009. • Kuanzishwa kwa kitengo cha huduma za kulipia za ushauri wa masuala ya utoaji huduma kwa wateja wadogo wadogo (Micro nance Consultancy Unit). • Uanzishwaji wa bidhaa rejareja za Bima. Wateja wetu wengi wakubwa hususani wakulima walijulishwa juu ya mwenendo wa kidunia (kimasoko) na umuhimu wa kuwa makini wanapotafuta mikopo ya kuendeleza shughuli zao. Benki ilitekeleza mikakati iliyolenga kupunguza utoaji wa mikopo kwa sekta za pamba na kahawa ambazo zilipata hasara kubwa msimu wa 2008/2009. 2008 mpaka shilingi 949.2 trilioni mnamo tarehe 31 Disemba.6 trilioni tarehe 31 Disemba 2009 ilitokana na kundi hili la wateja. Machache ya mafanikio yaliyopatikana ni yafuatayo: • Ukopeshaji wa wanachama wa SACCOS wenye kujishughulisha na kilimo cha kisasa cha zabibu kwa kutumia mfumo wa umwagiliaji wa maji ya kunyunyiza (Drip Irrigation) wilayani Chamwino (Dodoma). Jumla ya mikopo ya Benki ilikua kwa asilimia 13. Licha ya mtizamo wa kiha dhina kuhusu mikopo. Katika jumla hii mikopo kwa wateja wakubwa ilikua kwa asilimia 87.
173 0% 12% 1% 100% 4 12 33. uwindaji na uvuvi Usa rishaji.144 29. ikifuatiwa na biashara (asilimia 17). misitu. Mgao wa mikopo kisekta ulikuwa kama ifuatavyo: Sekta Salio (Shilingi Millioni) Biashara Asasi za fedha Kukodisha Viwanda Kilimo.MIKOPO Mikopo sa (pungufu tengo la mikopo chechefu na riba ambayo haijalipwa) ilikua kwa asilimia 13 kutoka shilingi bilioni 837 ilipo ka tarehe 31 Disemba 2008 mpaka shilingi bilioni 949 ilipo ka 31 Disemba 2009. mahoteli na migahawa Sekta ya huduma (hospitali.586 0 5 1 68.385 4% 1% 3% 1% 4% 13% 9 10 8 3 7 57.976 59.871 Disemba. mifugo.453 5.218 12.513 32.103 2. mawasiliano Migodi na machimbo ya mawe Mali isiyohamishika Ujenzi Utalii.255 20.337 45.052 70. Sekta ya kilimo iliendelea kuchukua sehemu kubwa ya mikopo kwa kuwa na asilimia 26 ya mikopo yote. 2009 % ya Jumla Nafasi 15% 7% 0% 11% 28% 2 6 17% 7% 0% 7% 26% 2 5 6 1 Taarifa ya Mwaka [Annual Report 2009 Annual Report] 25 .132 982. maji na mashule) Maghala Mikopo kwa wateja binafsi Sekta nyinginezo Jumla gha ya mikopo ya muda mrefu na muda mfupi 0 105.194 0% 12% 0% 100% 4 11 0 121. 2008 % ya Jumla Nafasi Salio (Shilingi Millioni) 66. umeme.809 10.217 257.449 848.170 6% 1% 3% 2% 5% 13% 7 11 9 10 8 3 127.020 Disemba.629 127.785 237.356 0 91.329 7.464 31.114 110.
Kwa kuwa mabenki mengi yamekuwa yakiathirika na udanganyifu na wizi wa fedha na hasara zinazosababishwa na mambo mengine. licha ya kushuka kwa riba kutokana na athari za msukosuko wa kifedha duniani Benki ilionyesha mafanikio ya kuridhisha katika mapato yake yanayotokana na kitengo cha Hazina kwa kuwekeza rasilimali kwenye fedha za kigeni. Mapato ya biashara ya fedha za kigeni yali kia shillingi bilioni 15. Ongezeko la wafanyakazi kwa mwaka 2009 lilikuwa asilimia 5 ukilinganisha na asilimia 7. udhibiti wa hatari ni kitu cha muhimu sana. taratibu na utekelezaji wa sera mikakati ya biashara.93 kwa mwaka 2008. Idara hii ina vitengo vya soko la fedha. UDHIBITI WA HATARI YA HASARA Kwa asili ya biashara za kibenki.4 katika kipindi cha mwaka 2008. uchunguzi wa makini umekuwa ukifanyika katika kusimamia hatari katika utendaji. Katika ngazi ya menejimenti asilimia 24. Mapato kutoka biashara ya fedha za ndani yali kia shilingi bilioni 28. kubadili fedha za kigeni na mauzo. ukwasi na hatari zitokanazo na shughuli za uwekezaji wa hazina ya Benki pamoja na biashara na mauzo ya fedha za ndani na nje.com).8 ni wanawake. kitengo cha udhibiti wa hatari ya hasara kilianzisha kiungo maalumu kilichoitwa ‘piga mbiu’ (whistle blowing) kwa ajili ya kutoa taarifa za wizi au uhalifu mwingine. 26 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .crdbbank. RASILIMALI WATU Ku kia Disemba 31.76 katika mwaka 2009 ikilinganishwa na asilimia 8. Benki ilikuwa na jumla ya wafanyakazi 1. Viwango vya mapato ya hawala na amana za serikali zilikuwa kwa asilimia 7.5 mwaka 2009 ikilinganishwa na shilingi bilioni 23 mwaka 2008 ikiwa ni ongezeko la asilimia 24.2 mwaka 2009 ikilinganishwa na shilingi bilioni 13 mwaka 2008 ikiwa ni sawa na ongezeko la asilimia 17. Mafanikio haya yali kiwa katika kipindi cha mabadiliko ya soko la fedha la nje na kushuka kwa viwango vya riba katika soko la fedha nchini. Kwa mwaka 2009. Kiungo hiki kinaweza ku kiwa na watu wote yaani wafanyakazi wa Benki na wateja wa Benki na inapatikana katika tovuti ya ndani ya Benki yaani intranet na tovuti ya Benki ya CRDB (www.311 kati yao 806 (62%) wakiwa wanaume na 505 (38%) wakiwa ni wanawake. Ongezeka hili liliendana na ukuaji wa Benki na mtandao wake kwa ujumla.UTENDAJI WA HAZINA YA BENKI Kitengo cha Hazina cha Benki kina majukumu ya kusimamia gharama za fedha. Mwaka 2007 Benki ilianzisha kitengo maalumu kwa ajili ya kupunguza hasara zinazoweza kutokea na mwaka 2009 ulikuwa ni mwaka wake wa tatu wa ufanyaji kazi. Mfumo mkuu mpya wa Teknohama ambao Benki imenunua kwa ajili ya shughuli za kibenki na biashara ya kifedha umekuwa imara na umepunguza hatari za utendaji kwa kutahadharisha uwezekano wa kutokea kwa hatari kwa muda muafaka. Katika hali ya mgogoro wa kiuchumi. 2009.
Katika juhudi za kuboresha huduma na kuleta ufanisi. Benki imetumia teknohama hii katika kuboresha shughuli za kibenki. Benki imeboresha mfumo wake wa mawasiliano ambao ulikuwepo katika kipindi kisichopungua miaka minane (8) kwa kuongeza uwezo wake mara sita zaidi ya zamani. Aidha Benki iliboresha mfumo wa kompyuta unaotumiwa na kitengo cha Biashara ya Kimataifa ujulikanao kama TI Plus. kabila. Sambamba na hilo. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 27 . dini au ulemavu ambao hauzuii mtu kutimiza wajibu wake. Wafanyakazi wengi walioajiriwa walikuwa ni wapya katika kazi (katika ngazi za ua sa na uhasibu fedha). Mifumo yote miwili inatarajiwa kuleta ufanisi mkubwa kwa Benki katika biashara za kimataifa na huduma kwa wateja. Katika mwendelezo wa kuboresha miundombinu yake. Hii itaongeza ufanisi katika mawasiliano na kupunguza gharama za mawasiliano kwa Benki. Benki ilitekeleza mfumo wa kusimamia shughuli za Idara ya Hazina ujulikanao kama Opics. Benki iliajiri jumla ya wafanyakazi 136 ambao kati yao 96 (71%) ni wanaume na 40 (29%) wanawake. Benki ilijikita katika mradi wa kubadilisha mfumo wake mkuu wa kompyuta ambapo utabadilishwa kwa kuingiza mfumo mpya unaojulikana kama Universal Banking – Bank Fusion (UB). Benki huwapandisha wafanyakazi wake vyeo pale tu kunapokuwa na nafasi ya kufanya hivyo. Benki itakuwa na uwezo mkubwa katika kutoa huduma na kwa namna ambayo ni rahisi na kwa gharama nafuu. Miundombinu ya kompyuta katika Benki ni ya uhakika na imetengenezwa kuweza kumudu ongezeko la wateja pamoja na la miamala. Benki inatoa na itaendelea kutoa fursa sawa kwa watu wote katika ajira na itahakikisha kwamba mfanyakazi mwenye bidii na uwezo anateuliwa kushika nafasi yoyote bila ubaguzi wa aina yoyote kama vile jinsia. Mwaka uliopita uajiri wa wafanyakazi katika ngazi ya juu ulikuwa ni mdogo sana. Hii pia ililazimu ununuzi wa mfumo maalum wa kompyuta ujulikanao kama ‘Back O ce Centralization System’ ili kumudu shughuli hizo. Mradi utakapokuwa umekamilika. katika kipindi cha mwaka 2009 Benki ilianza kutekeleza mradi wa kufanyia Makao Makuu shughuli za kibenki zilizokuwa zikifanyika matawini (centralization of back o ce operations) ili kuongeza ufanisi. TEKNOHAMA Benki ya CRDB hutumia teknolojia ya mawasiliano ya kompyuta kama zana ya kiushindani katika soko na pia kuongeza ufanisi na tija katika shughuli zake. Mradi huu unategemewa kumalizika katika kipindi cha robo ya pili ya mwaka 2010. kubuni bidhaa na huduma mpya na hatimaye kuongeza thamani ya huduma/bidhaa zitolewazo kwa wateja. Katika mwaka 2009.Mwaka 2009.
tija na urahisi wa kutumiwa na wateja kwa mawasiliano na Benki. inategemewa kuanzishwa kwa timu za wataalamu wa IT za kutoa huduma katika kila kanda. maelezo kuhusu miamala. kuhamisha fedha kwenda akaunti binafsi na kutuma fedha kwa akaunti ya mteja mwingine. Kupitia ‘SimBanking’ wateja huweza kupata salio la akaunti zao. Mikakati mipya ya masoko imechangia ukuaji mkubwa wa Benki. MASOKO Mwaka 2009 umeendelea kuwa mwaka wa mafanikio katika juhudi za Benki kutoa huduma bora. siku 365 za mwaka. Malkia Akaunti ni mpango maalum wa uhifadhi wa fedha kwa muda maalum na kiwango maalum ambacho mteja anachagua kuweka. Arusha na Kahama. maonesho ya utalii ya “Karibu” yaliyofanyika mjini Arusha pamoja na maonesho ya siku ya wafanyakazi duniani yaliyofanyika mjini Musoma.com) na kuifanya iwe ya kisasa. Benki ilishiriki katika makongamano na maonesho mbalimbali ya kibiashara kama maonesho ya wakulima kitaifa (Nane Nane) yaliyofanyika Dodoma. Benki pia ilifanya mabadiliko makubwa katika tovuti yake (www. Mwaka 2009. SimBanking ni huduma inayowapa wateja fursa ya kupata taarifa za akaunti zao mahali popote walipo na kwa muda wautakao. za kiubunifu na zenye kukidhi mahitaji ya wateja wake.crdbbank. Hii ni huduma bora na ya kisasa zaidi nchini. Akaunti ya Malkia. 28 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Mwishoni mwa mwaka Benki ilianzisha huduma za kibenki kwa njia za simu za mkononi ya ‘SimBanking’. Akaunti hii ilipokelewa kwa kishindo sokoni na iliongoza kwa kujikusanyia amana kwa haraka zaidi ya akaunti zote zilizowahi kuanzishwa katika kipindi cha miaka mitano iliyopita. Hii ni akaunti iliyobuniwa mahsusi kukidhi mahitaji ya kibenki ya wanawake. Benki pia iliandaa makongamano kwa ajili ya wakulima wa kahawa na pamba katika miji ya Mbeya na Shinyanga. Benki iliendesha kampeni za kimasoko kwa ajili ya uuzwaji wa hisa na Benki kusajiliwa rasmi kwenye Soko la Hisa la Dar es Salaam ambazo zilifanikiwa vyema na kuleta kiasi kikubwa cha maombi ya manunuzi ya hisa zaidi ya hisa zilizotolewa kwa mauzo. ambayo ni ya kwanza kabisa nchini kwa ajili ya wanawake ilianzishwa mwishoni mwa mwezi April. Tovuti hii mpya imesheheni taarifa mbalimbali kwa wateja ikiwemo sehemu maalum kwa ajili ya wawekezaji na wanahisa. Mwaka 2009. Kwa miaka ijayo. Hili lilienda sambamba na kuhakikisha kwamba rasilimali za Benki za teknohama zinatunzwa na kupewa usalama unaostahili wakati wote. yenye kasi. taarifa fupi ya akaunti. Huduma hii ni ya kiwango cha juu zaidi ya ile ya zamani ambayo ilihusisha huduma hizo kupitia ujumbe mfupi wa maandishi (CRDBSMS Banking). 2009. DAWASCO. TANESCO.Kitengo cha Teknohama kilifanya kazi bila kuchoka kuhakikisha kwamba wakati wote mifumo ya kompyuta na mawasiliano inapatikana na kwa ufanisi saa 24. kufanya malipo ya ankara mbalimbali kama vile MultiChoice. ada mbalimbali.
afya na mazingira.Kwa ujumla.015 588 120 190 1.5% 2006 38 27 36% 2. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 29 . VIELELEZO MUHIMU VYA FEDHA Jumuisho la Taarifa za Kifedha (Tsh bn) Aina/Mwaka Amana Mikopo Dhamana za Serikali Uwekezaji na fedha zilizo kwenye benki nyingine Jumla ya rasilimali Fedha za wanahisa 2005 665 202 217 185 745 45 2006 798 406 164 176 898 69 2007 1. Misaada hii ilielekezwa kwenye maeneo lengwa ikiwa ni pamoja na elimu.450 141 2009 1. Jumla ya rasilimali zilikua kwa wastani wa asilimia 25 kwa mwaka. Benki itaendelea kuimarisha na kuanzisha huduma na bidhaa ili kukidhi mahitaji ya wateja.9% 2007 52 37 38% 3.3% 2008 60 41 32% 5% 19 2009 62 46 25% 4% 22 Katika kipindi cha miaka mitano iliyopita Benki imeweza kupata matokeo mazuri ya kifedha. Aidha faida baada ya kodi ilikuwa kwa wastani wa asilimia 25. Ufadhili na Misaada kwa Jamii Benki ya CRDB inaamini kwamba haiwezi kujihesabu ni yenye mafanikio bila kurudisha fadhila kwa kutoa sehemu ya faida kwa jamii inayoizunguka.855 208 Jumuisho la Taarifa za Mapato (Tsh bn) na uwiano Aina/Mwaka Faida kabla ya kodi Faida baada ya kodi Rejesho la mtaji Rejesho la rasilimali Pato kwa hisa 2005 24 19 29% 2. muonekano wa kimasoko wa Benki ulikua sana kutokana na mbinu yetu ya kujali ubora wa kazi na kuwa makini na aina ya matangazo na kampeni za kimasoko tunazoziendesha.625 950 253 253 1. Ubunifu na mikakati mipya ya masoko itaendelezwa mwaka 2010.5 katika kipindi cha miaka mitano. Katika mwaka 2009. Benki ilitumia zaidi ya Shilingi 250 milioni kusaidia jamii zinazoishi katika mazingira magumu na zinazokabiliwa na changamoto mbalimbali.143 105 2008 1. Pia kiwango chetu cha kutoa huduma zinazokidhi mahitaji ya wateja kimekuwa zaidi.276 837 206 140 1.
The Global Financial Crisis translated in a decrease in demand and prices for the Tanzania’s principal exports crops. Inspite of a reasonable harvest in 2009. which accounted for 54. The change in money supply occurred mostly in non-transferable deposits. recording an average GDP growth rate of 7. calling for banks and other nancial institutions to set policies and credit packages that will support e ective nancing in the sectors.5%. trade and tourism will slowly pick up in 2010. It is therefore anticipated that economic growth will to a great extent pick up from 5.OPERATING ACTIVITIES ECONOMIC REVIEW General Economic Performance Over the past four years Tanzania’s economy performed fairly well. transportation as well as in ows from foreign investments were adversely a ected by the crisis. mining and services sectors are foreseen to perform well. real GDP growth decreased sharply to 5. mainly savings and xed or time deposits. the fruits of the package begun to be noticed only towards the end of the year 2009. food prices stood high because 30 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . sluggish recovery of the global economy and low demand for agricultural commodities will keep on hindering Tanzania’s economic performance. Growth in construction industry will largely be driven by donor-funded infrastructure mainly in roads and energy sub-sectors whereas services will chie y be driven by telecommunications. Among the lessons learnt from the crisis is the continued domination of the economy by agriculture and mining sectors.6% in 2009.6% attained in 2009 to about 6.7% of the total change in both broad money supply and extended broad money supply.2% per annum. and particularly commercial banks. The rise was chie y attributed to an increase in prices of food items. transportation and nancial services. Despite the economic stimulus package put in place by the Government in mid-2009 with an objective of mitigating the e ects of the crisis on nancial institutions. Generally.5% in 2010. Additionally. annual growth rate of credit to the private sector decelerated from 26% in 2008 to only 17. in particular cotton. Economic Performance Expectations in 2010 and Beyond General economic conditions suggest that foreign investment. The construction. Nevertheless. co ee and horticultural products. Other Developments in the Economy Developments in Financial and Monetary Aggregates During the year 2009 growth in monetary aggregates remained moderate following relatively slow growth of banks’ credit to the private sector.5% in 2009. Headline In ation Developments The annual headline in ation rate kept on uctuating on month to month basis during the year to December 2009 but on average it stood at 12. Following the Global Financial Crisis. earnings from tourism.
In addition to the structural rigidities a ecting food prices. The Bank opened 6 branches in the year under review namely. The Bank aggressively targeted the Zanzibar tourism and entertainment industry. Kibaha. secure and stable bank. the Bank was able to upgrade its communication infrastructure across all branches thereby increasing e ciency in transaction processing by reducing system downtime and increasing ATM up time. the Bank was able to acquire over 30 merchants. The Bank started implementing system based changes that are geared towards centralizing back o ce transactions and upgrading its core banking system. the launching of innovative segmented o erings and other initiatives that will enable CRDB Bank to build further on its position as a progressive. Kariakoo. Card Business The Bank’s card business continued to o er value to our customer base and 2009 was a year of great changes for the Bank’s card business in terms of increasing revenue. With changes in technology. Nyanza and Mabibo. the Bank progressed in its quest to increase its network of branches (traditional and mobile) to ful l its ambition of having branches in half of the country’s districts by year 2012. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 31 . TemboCardVisa is the only card in Tanzania to be certi ed as fully EMV compliant. and improving quality of merchants recruitment to o er enhanced convenience to our card customers. Zanzibar. These two systems will enable the Bank to further improve its services and enhance its growth momentum when fully implemented by the second quarter of year 2010. The Bank’s merchant business was non existent in Zanzibar prior to this year. CRDB Bank moved to be EMV compliant and the Bank is now o ering new TemboCardVisa chip cards. The Bank continued with its two pronged strategy of improving customer service in the Bank’s branches as well as o ering esteemed customers convenient and innovative alternative delivery channels that meets their needs. going forward trends suggest that stabilization of oil prices worldwide forecast to average at US$ 75 per barrel will contribute to deterioration in in ation during 2010. Key highlights for the year were the opening of new branches. The increase has made the Bank the second largest bank in terms of branch network. The opening of the new branch in Zanzibar will pave way for a more successful card business operation in Zanzibar. Distribution Network In 2009. structural rigidities and increased exports to the neighbouring countries which experienced food shortages. The Micro nance subsidiary also increased its network of partner MFIs to 425 from 376 in 2008. 2009 was a year of sustained growth and enhancement of the Bank’s services and capabilities. RETAIL BANKING For the Bank‘s Retail Banking. Marangu. Within the year. strengthening security of card business.of inelastic demand.
7 billion was disbursed to nance Agricultural Marketing Cooporative (AMCOS) in that Region to trade in cashew nuts under the warehouse receipt system. Micro nance Operations In year 2009. The transition to the online platforms enables customers to be immediately online once a transaction is initiated.936 cards in the market. • Implementation of a programme aimed at financing agriculture at various stages of value chain from cultivation to marketing. • Enhancing the partner MFIs eﬃciency by helping them automate the activities: CRDB Micro nance MIS solution was rolled out to over 70 partner institutions.8 billion disbursed during the year. At the end of December 2009. the Bank had 605. Amongst the notable milestones achieved were the following: • Financing drip irrigation for SACCOS members engaged in modern grape cultivation in Chamwino district (Dodoma). At the end of year 2009 Portfolio at Risk (PAR) was 1. CRDB Micro nance Services Company Ltd exhibited a tremendous growth evidenced by expansion of its presence to 23 of Tanzania’s 26 regions and its network coverage to 112 of the country’s total 136 districts through partnerships with 425 a liate micro nance institutions enabling provision of nancial services to 571. This technology will enable e cient use of underground water. 20 million from an average size of Tshs. Interest income and other commission earned amounted to Tshs. both TemboCard normal and TemboCardVisa as well as 502 POS at merchant outlets. During year 2009.The special cards designed for users that transact with TRA (TemboCard TRA) or TANAPA (TemboCard TANAPA) have been transformed from o ine to online mode. the outstanding balance at end of the year was Tshs. Out of Tshs. the SME unit for the rst time was involved in nancing under the warehouse receipt system for cashewnuts in Lindi region. 1. • Introduction of micro insurance products. 30 million last year. The SME loan portfolio doubled both in number and value during the period under review.156 loans were approved with an average limit of Tshs. all loans had been repaid to the Bank. As at the end of the year. SME business The initiatives taken in 2009 in the SME segment resulted into a broadening of the Bank’s client base. both in terms of lending as well as deposits and more diversi ed risk pro le with higher returns.476 microentrepreneurs.58%.75 billion during 2009. 50 million per loan. 99. This line of business is expected to increase in 2010 as the warehouse receipt system has become acceptable to more stakeholders. 6. 40 billion. During the year. Up to the end of December 2009 a total amount of Tshs. 32 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . The average loan size increased by Tshs.
Taarifa ya Mwaka [Annual Report 2009 Annual Report] 33 . Our Corporate customers. A sizeable portion of the growth of the Bank’s deposits which grew from TShs.6 trillion as at 31st December. Out of this portfolio corporate lending accounted for 87%. Despite such conservative approach in lending. we were exceedingly pleased with our trade nance together with well informed Corporate Relationship Management teams whose e ort made it possible to acquire business and deliver services to key customers in the utility sectors.2 trillion at the end of year 2008 to TShs. During the year under review the Bank’s institutional clients’ team through the countrywide branch network mobilized deposits from various government. It is in this context that there was relatively less concentration on lending to crops like cotton and co ee that had su ered profound losses during the previous season. non-government and quasi-government institutions all over the country. 836. 949. mostly farmers. CORPORATE BANKING Corporate lending in 2009 was mainly characterized by sluggish growth and cherry-picking of segments or sub-sectors for any additional nancing taking account of the fact that some sectors received support from the Government with a view to stimulate their contribution to economic growth. The Bank’s total portfolio grew from TShs. Among many deals. were therefore made aware of the global trends. markets and the need to be prudent in seeking nance. 1. in 2009 the Bank continued to extend loans and other credit and trade nancing facilities to its corporate customers in all sectors across the economy.5 billion in December 2009.• Commercialization and sharing of the Bank’s vast experience in Microfinance through consultancy services:.8 billion at end of December. 2008 to TShs. 2009 was attributable to this segment of customers. 1.the Bank’s Micro nance Subsidiary Company established a Consultancy Services Unit to serve the growing market demand.
followed by trade and commerce 17%.449 0% 12% 0% 4 11 0 121.337 45. accounting for over 26 % of the portfolio.020 0% 7% 26% 6 1 127.385 4% 1% 3% 1% 4% 13% 9 10 8 3 7 57. Hotels and Restaurants Utilities and Public Services (mainly hospitals. Hunting and Fishing Transport.218 12.103 2.833 9.629 127.144 29. electricity. water and schools) Warehousing and Storage Personal/Consumer Others (including overdrawn accounts) Gross Loans.154 -5.803 0% -1% 100% 949.132 0% 12% 1% 4 12 33.559 836.356 December.LENDING The net loan portfolio rose by 13% from Tshs. Livestock.871 0% 11% 28% 5 1 0 68. Advances and Overdrafts -1. The gross loan portfolio distributed by sectors is shown in the table below: Sector Balance (In Tshs Million) Trading and Commerce Financial intermediaries (micro nance institutions) Leasing Manufacturing and processing Agriculture.586 % of Total Ranking 15% 7% 2 6 17% 7% 2 5 34 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .976 59. Forestry.513 32. 2008 % of Total Ranking December.194 100% 982. 2009 Balance (In Tshs Million) 166.809 10.464 31. Communication Mining and Quarrying Real Estate Building and Construction Tourism. The agricultural sector continued to dominate.170 6% 1% 3% 2% 5% 13% 7 11 9 10 8 3 0 91. Advances and Overdrafts Interest in Suspense Provision Amount Net Loans.785 237.255 20.217 257.052 70.114 110.329 7. 837 billion as at 31 December 2008 to Tshs 949 billion at 31 December 2009.822 848.173 100% 0 105.453 5.
The Bank has also automated its international trade functions by introduction of a trade nancial system called TI Plus and its treasury operations by introducing treasury management system called Opics. trading and sales.com). These achievements were achieved amidst extreme forex market volatility and declining interest rates in the money market. During the year under review the Bank had started a project of overhauling its core Banking System to a new relational database system branded Universal Banking – Bank Fusion. Our platforms are designed to service scale and are now capable of handling increased customer accounts and transaction volumes. treasury operations of the Bank showed a marked improvement in the market share of foreign exchange business despite depressed interest rates on foreign currency denominated assets arising from the spill-over e ects of the global nancial crisis. 28. RISK MANAGEMENT Given the nature of the banking business. treasury and trade nance have very robust applications that reduce operational risk by timely highlighting risks. management of risk is of utmost importance. managing liquidity and risks related to treasury operations. The Department has three functional units including money market. an increase of about 24%. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 35 . The link is on intranet as well as internet on the Bank’s website (www. procedure and e ectiveness. During 2009. an increase of 17%. We have used technology to deliver process improvements.TREASURY OPERATIONS CRDB Bank treasury function focuses on optimizing cost of funds. 15. With the global nancial crisis. the unit started a whistle blowing link that can be accessed by both sta and customers.5 billion against Tshs. innovation and to create new products and add value to our o erings. INFORMATION COMMUNICATION TECHNOLOGY (ICT) CRDB Bank leverages information technology as a strategic tool to gain competitive advantage and improve productivity and e ciency of the organization. Bank introduced specialized department to deal with risk management in 2007.crdbbank. The new systems that the Bank has acquired for core banking. Both these systems will enable the Bank to increase e ciency and handle large volumes. As more and more local banks have been a ected by frauds and other aspects of losses. a greater scrutiny has been placed on bank’s management of risk in terms of practices. while providing customers convenient access to the related services.13 billion realized in 2008.59% during the year. 23 billion in 2008. The weighted average Treasury bill yield was 7. This will enable the Bank to deliver various products in a more exible and a cost-e ective way. Domestic money market operations generated Tshs. The shilling depreciated by an average of 2.2 billion compared with Tshs. foreign exchange and sales.93% in 2008. Treasury foreign exchange operations posted an income of Tshs.76% in 2009 compared with 8.
In its e ort to increase operational e ciency the Bank also started in 2009 to implement process rationalization by centralizing its branch back o ce operations entailing acquisition of back o ce centralization system. This project is expected to be completed by the third quarter of 2010. In tandem with this, the Bank also upgraded its communication system from the old system which had been in place for more than eight years. The new system has increased capacity six times more than the previous one. This will enable the Bank to reduce system down time and costs. ICT Support team also worked tirelessly to maintain high level of system availability and service 24x7, 365 days. This has been managed alongside an ongoing Information Technology (ICT) projects to ensure that the Bank’s ICT assets are properly secured and maintained. These will be further developed in the coming years by introduction of Zonal Support Teams.
As at 31st December 2009, the Bank had 1,311 employees out of whom 806 (62%) were males and 505 (38%) females. At management level about 24.8% were female. The annual growth in sta ng was 5% as compared with 7.4% in the year 2008. This is in keeping with the overall growth of the Bank and its outlets. In the year 2009, the Bank recruited 136 employees of which 96 (71%) were males and 40 (29%) were females. Most of the recruits were entry level hires (i.e. Bank O cer Trainees and Bank Teller Trainees). The Bank promotes from within whenever possible, hence, during the period the recruitment of senior sta was relatively low. The Bank is an equal opportunity employer. It gives equal access to employment opportunities and ensures that the best available person is appointed to any given position free from discrimination of any kind and without regard to factors like gender, marital status, tribe, religion and disability which does not impair ability to discharge duties.
2009 continued to be a year of great achievements in o ering innovative solutions to meet customer needs. New marketing programmes have contributed to solid business growth. Signi cantly, a rst women designated account in the country, Malkia Account was launched at the end of April 2009. This is an account designed to meet women’s savings plans especially those with unique nancial needs, without a ecting their spending behaviors. Malkia account has become the fastest growing account in terms of volumes of deposits compared to all other accounts launched in the past ve years.
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
Towards the end of the year, the Bank launched the most advanced mobile phone based product in the country, branded CRDB SimBanking. CRDB SimBanking is a service that allows customers to access their accounts from wherever they are, whenever they wish. The service is a second generation variant of mobile banking services through their cellular phones. Customers can access their account balances, get a mini statement, get transaction details, pay utility bills, school fees and other xed term payments like MultiChoice, transfer funds between own accounts as well as to third parties. In 2009, the department spearheaded the Bank’s participation in various forums and trade exhibitions, including the Peasant’s Day (“Nane Nane”) exhibitions in Dodoma, Arusha and Kahama; Karibu Tourism Fair in Arusha as well as National May Day exhibitions in Musoma. The Bank also conducted Co ee Forum in Mbeya and Cotton Forum in Shinyanga for its borrowing customers. During the year, the Bank conducted marketing campaigns to support the rights issue, IPO and listing of the Bank’s shares at the Dar es Salaam Stock Exchange (DSE) which were all a success with massive oversubscription. The Bank also revamped its website (www.crdbbank.com). The new website is state of the art with an e cient, user friendly customer interface that allows customers to interact with the Bank in general or with speci c business units. The new website has more information for customers and other stakeholders including a special section for investors and shareholders. Further innovations and new marketing programmes will take place in 2010. The Bank will continue to enhance and develop the Bank’s services and products so that customers receive the level of sevice and assistance that they demand.
Corporate Social Responsibility (CSR)
The Bank is steadfast in its belief that it can not prosper and consider itself successful without sharing the fruits of its success with the community within which it operates. In 2009, the Bank donated over Tshs. 250 million to support disadvantaged communities and other noble causes. The support which were given out were in areas that the Bank had earmarked to receive support, namely, education, health and the environment.
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
Consolidated Statement of Financial Position (Tshs bn) Item/Year Deposits Loans Government Securities Placements and balances with other banks Total assets Shareholders funds 2005 665 202 217 185 745 45 2006 798 406 164 176 898 69 2007 1,015 588 120 190 1,143 105 2008 2009 1,276 1,625 837 950 206 253 140 253 1,450 1,855 141 208
Consolidated Statement of Comprehensive Income (Tshs bn) and key ratios Item/Year Pro t before tax Pro t after tax Return on Equity Return on Assets Earning per Share 2005 24 19 29% 2.5% 2006 38 27 36% 2.9% 2007 52 37 38% 3.3% 2008 60 41 32% 5% 19 2009 62 46 25% 4% 22
Over the last ve years the Bank has been able to deliver strong results. Total assets grew at an average of 26% per annum, while deposits grew at an average rate of 25% per annum. Pro t after tax grew at an annual rate of 25.5% over the ve year period.
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
950 bilioni mwishoni mwa mwaka 2009. wadogo na wakati pamoja na huduma kwa wafanyabiashara wadogo wadogo (Micro nance). utalii na mahoteli asilimia 5. ulitwao “OPICS” mwezi Machi. huduma za jamii (ikiwemo umeme. Benki yetu ni moja ya watoaji wakubwa wa huduma za kibenki nchini na imejidhatiti katika huduma kwa wateja wakubwa. Shughuli za Benki Kuu na Mapitio ya Biashara Benki imesajiliwa kwa sheria za mabenki na asasi za fedha ya mwaka 2006 na jukumu lake kuu ni kutoa huduma za kibenki. mikopo binafsi yenye asilimia 12. Marejesho ya riba za mikopo ilikuwa Sh. wakala wa fedha asilimia 7. jumla ya amana za Benki zilikuwa shilingi bilioni 1. Hii ni kutokana na kujulikana na kuaminiwa kwa Benki. Hazina Ili kuweza kuwapatia wateja wetu huduma bora na pia kuweza kutoa taarifa sahihi kwa kamati ya Benki ya utawala. ujenzi asilimia 5. 6 mapya yalifunguliwa huku mashine za kuweka na kutoa fedha 32 ziliongezwa na kufanya Benki kuwa na jumla ya mashine 132. 2008. kufunguliwa matawi mapya. 89 bilioni mwaka 2008 ambayo ni asilimia 58 ya jumla ya fedha za uendeshaji wa Benki. Sekta ya kilimo imeendelea kuongoza ambapo ilipata asilimia 26 ya mikopo yote ilitolewa. 117 bilioni kutoka Sh. Benki ina mtandao wa matawi 60 na asasi za fedha 425 ambazo ni washirika wa Benki. Benki ilianzisha mfumo mpya wa kusimamia hazina. usa ri na mawasiliano asilimia 7 kila moja wakati sekta ya madini ilipata asilimia 1. 2009. ukarabati wa matawi ya zamani. Benki inatoa huduma zote za kibenki ikiwa ni pamoja na huduma za uuzaji na ununuaji wa hisa na uwakala wa bima. mawasiliano na ukaguzi wa mali na Amana ( ALCO).621. Mwaka huu matawi mawili yalifanyiwa ukarabati. hospitali na maji) yenye asilimia 13. bidhaa mpya na kampeni madhubuti na bunifu za kimasoko. Mikopo Kiwango cha mikopo iliyotolewa na Benki kiliongozeka kwa asilimia 14 kutoka Sh.273 wakati tarehe 31 Disemba 2009 zilikua na ku kia shilingi bilioni 1. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 39 . shule. amana za wateja zilikua kwa asilimia 28.Taarifa ya Wakurugenzi Kwa mwaka ulioishia tarehe 31 Disemba 2009 Wakurugenzi wa Benki wanayo furaha kuwakilisha taarifa na ripoti za kimahesabu za Benki ya CRDB na kampuni yake tanzu zilizokaguliwa kwa mwaka ulioishia tarehe 31 Disemba 2009. uzalishaji asilimia 7. 837 bilioni mwishoni mwa mwaka 2008 mpaka Sh. ikifuatiwa na biashara na uchumi yenye asilimia 17. Amana Mwaka 2009. Mpaka ku kia tarehe 31 Disemba.
‘bills na bonds’ lilichangia asilimia 14 ya fedha za uendeshaji wa Benki. 30 milioni mwaka 2008 mpaka Sh. faida itokanayo na mauzo ya mali na vifaa ambavyo vyote vilichangia asilimia 20 ya fedha za uendeshaji. Ukwasi ulikua kwa asilimia 1. pato la riba katika hisa. ikilinganishwa na Sh. mikopo 1.15 bilioni ilikuwa ni mikopo iliyotolewa kwenye sekta ya kilimo na uzalishalishaji kama pembejeo na matrekta. Jumla ya pato la riba. Mapato mengine Mapato mengine yalijumuisha mapato yatokanayo na ada. Mfumo wa risiti ghalani (Warehousing receipt system) ambao ulisaidia upatikanaji wa bei bora za nafaka. Benki kupitia kampuni yake tanzu ya Micro nance iliendelea kuchangia juhudi za serikali za kuendeleza sekta ya kilimo kupitia sera ya “kilimo kwanza” kwa kuwasaidia wakulima kuongeza uzalishaji na pia kujipatia bei nzuri za mazao yao. mikopo yenye jumla ya Sh.156 ilitolewa ikiwa yenye thamani ya Sh.13 bilioni ikiwa na ukwasi wa asilimia 3. 4 bilioni mwaka 2008. Amana yao katika benki ilikuwa Sh. Mpaka tarehe 31 Disemba 2009 kiasi cha mawakala 222 wa Micro nance walikuwa wamepewa mikopo iliyo kia kiasi cha Sh. ada na malipo mengine ili kia Sh. Biashara za Wateja Wadogo Wadogo . 70 bilioni. Biashara Ndogo na za Kati Mikopo kwa wafanyabiashara wadogo na wa kati ilikuwa kwa wingi wa wateja na thamani katika mwaka 2009.14 bilioni ilitolewa kwa asasi za kati za kifedha (MFI) 25 kwa ajili ya shughuli za kilimo cha kisasa ikiwemo ununuzi wa vipuri na zana za kilimo kama vile vifaa vya umwagiliaji wa zabibu na mazao mengine. Wastani wa mikopo uliongezeka kutoka Sh. 15 bilioni mwaka 2009 ikilinganishwa na Sh.50 milioni.Mapato kutokana na biashara ya fedha za kigeni yalikuwa Sh. mikopo ya Sh. Mwaka 2009 Benki ya CRDB ilishiriki sana kwenye biashara kati ya mabenki kwa kuuza fedha za kitanzania kwa benki nyingine kwa faida. Mwaka 2009. Katika kipindi hicho. Shughuli za soko la fedha zilichangia kwa kiasi kikubwa kuongeza pato la riba la mwaka 2009. 13 bilioni mwaka 2008. hii ilichangia asilimia 8 ya jumla ya fedha za uendeshaji.Micro nance Katika mwaka 2009 kulikuwa na ongezeko la asasi washirika za kifedha 49 kutoka asasi 376 mwaka 2008 hadi ku kia 425 mwaka 2009. 6 bilioni. korosho. miwa na chai pia ulifadhiliwa kupitia mpango wa micro nance. Katika jumla hiyo. 40 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .5. 118 bilioni.
5 bilioni mwaka 2008 kutokana na kushuka kwa urudishwaji wa mikopo kulikosababishwa na mdororo wa uchumi duniani. 9. Matokeo ya Kifedha Benki ilipata faida kabla ya kodi na tengo kwa ajili ya mikopo mibaya ya Sh. Hali ya Fedha Hali ya kifedha ya Benki na kampuni tanzu tarehe 31 Disemba 2009 imeelezwa vizuri katika ukurasa wa 68 wa taarifa ya fedha. Changamoto kubwa ni jinsi gani ya kujenga mfumo miundombinu imara kuweza kutoa huduma zote za kibenki kwa wateja wa makundi yote. Serikali iliingilia kati na kutoa ruzuku ya kunusuru ambapo benki ilipata jumla ya Sh. Benki iliongeza jumla ya Sh. Benki ilipata faida kabla ya kodi ya Sh. 80 bilioni mwaka 2009 ikilinganishwa na Sh. Benki jumla ya kadi za TemboCardVisa 200. Kwa bahati.18 bilioni kwa ajili ya tengo la mikopo mibaya mwaka 2009 ikilinganishwa na tengo la Sh. Mipango ya Maendeleo ya Baadae Mwaka 2009 ulikuwa ni mwaka wa pili katika utekelezaji wa mkakati wa maendeleo wa Benki kwa mwaka 2008 .892 na kadi za kawaida 3. Pamoja na hilo.068 za TemboCard za kawaida.Biashara ya Kadi Mwaka 2009. na zaidi ya Sh. Benki pia ilinunua mfumo mpya wa Trade Finance na mfumo wa kutoa huduma za kibenki kwa njia ya simu za mkononi yaani CRDB SimBanking.9 bilioni kwa ajili ya hasara iliyotokea kwa wanunuzi wa pamba. Mpaka ku kia Disemba 2009 jumla ya mashine za malipo (Point of Sale) 502 ziliwekwa kwenye vituo vya biashara vyenye uwezo wa kupokea kadi za visa za debit na credit. 62 bilioni mwaka 2009 ikilinganishwa na Sh. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 41 .868 za TemboCardVisa na Kadi 291. utumiaji mzuri wa bidhaa za kiteknolojia na ukuzaji wa mfumo mzima wa kibenki. 60 bilioni mwaka jana ambalo ni ongezeko la asilimia 3. Hata hivyo. Teknolojia ya Mawasiliano Benki imeanza kuweka mfumo mpya wa mawasiliano ya kibenki (Bank Fusion-Universal Banking).755 na kufanya Benki kuwa na jumla ya kadi 314. Benki inaendelea kutilia mkazo huduma kwa wateja wadogo kwa kuwapatia huduma na bidhaa bora kupitia upanuzi wa mtandao wa Benki. 65 bilioni mwaka 2008 ambalo ni ongezeko la asilimia 23. 8.3 bilioni zilizotolewa mwezi Februari 2010.2012. Wakurugenzi wanatambua kuwa Benki iko katika hali nzuri ya kifedha kama ilivyoainishwa na sheria ya Makampuni nchini ya mwaka 2002 na ya Mabenki na Asasi za fedha ya mwaka 2006. Benki itaendelea kutoa huduma bora na za kisasa kwa wateja wakubwa na taasisi mbalimbali na pia kuchukua hatua mbalimbali kupunguza ukwasi.
15.176. I.665.333.666. 2009.466.000 49. 2009 9 Mar.304.320. Mgawanyo wa hisa katika kipindi cha 2009 ulikuwa kama ifatavyo. Wakurugenzi Wakurugenzi waliotumikia Benki tangu tarehe 1 Januari 2009 mpaka wakati ripoti hii inatayarishwa ni wafuatao: 42 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .600 2.000 hadi hisa 4.) 24.000. Kuongeza fursa za kukuza mtaji wa Benki II. Kuwezesha hisa za Benki kuuzwa katika soko la Hisa Benki iliweza kukuza mtaji wake mpaka uka ka Sh.160 Thamani 100 100 25 25 Kiasi – (Sh. 2009 6 Jan. Sababu za kuorodheshwa kwa hisa za Benki katika Soko la Hisa ni.176. 2009 Mtaji wa Benki katika hisa za kawaida uliongezeka kutoka hasa 247.160 katika kipindi cha mwaka 2009.0000 ikiwa ni matokeo ya uwiano wa 1:4.000 54.200 494.2 bilioni.978.466.000. Mabadiliko hayo ni maamuzi ya Mkutano Mkuu Maalumu wa tarehe 6 Disemba. Tukio Kabla ya hisa za bakshishi Baada ya hisa za bakshishi – 1:1 Baada ya mgawanyo wa hisa – 1:4 Baada ya kutolewa hisa – 1:10 Tarehe 1 Jan.400 1.733. Jumla ya gawio litakalopendekezwa ni Sh. 2009 Idadi ya hisa 247. 16.200 hadi hisa 2.532.Mtaji Mwaka 2009.000 49. kulikuwa na ongezeko la mtaji wa hisa kutoka hisa1.532.000.640.5 bilioni na Benki iliorodheshwa rasmi katika Soko la Hisa tarehe 17 Juni. Gawio Wakurugenzi watapendekeza katika Mkutano Mkuu wa mwaka gawio la shilingi 7 kwa kila hisa moja. Kuimarisha taswira ya Benki miongoni mwa jamii III.413.640.000 Uuzaji wa Hisa na Kuorodheshwa kwa Benki katika Soko la Hisa la Dar es Salaam Katika mwaka 2009 Bodi ya Wakurugenzi ilipitisha uamuzi wa kuuza hisa kwa wananchi na pia kuorodhesha hisa za Benki katika soko la Hisa la Dar es Salaam. 2008 na mabadiliko hayo yalitekelezwa Januari. 2009 6 Jan.333.
Joseph C. MSC(Fin). PGDA. BSc (Eco) Dip (Fin) Dip (Org.000 106. Machange walisimama kwenye uchaguzi na wakachaguliwa. BA M. Masters of Management Studies MBA. Luhanga Bi. Lyimo Bw. Kimei Bw. Lydia M. Lydia M.Com MBA. Joseph C. FCPA (T) MBA (Fin and Marketing) PhD. Kimei Bw.100 2008 % 0.Sc(Eng) ADA.01 Taarifa ya Mwaka [Annual Report 2009 Annual Report] 43 .Namba 1 2 3 4 5 6 7 8 9 10 11 12 13 Jina Bw.220 205. Muhegi Dk.02 0.541 450. Martin J. Charles S. Sylvia S. Joyce W. Boniface C.08 0. Joseph C. Joyce N.ADA PhD (Money and Finance). B. Abdulrahman alichaguliwa kutoka kundi la wanahisa wenye hisa pungufu ya asilimia 1 ya mtaji wa Benki.660 2009 % 0. Ally H. Juma A. Abdulrahman Bi.689. Mmari Dk.000 178.004 0.025 973.) LLM.800 405. Muhegi Bw.04 0. Luhanga Bi. Joyce W. Bede P. Bi. Laay Bw.07 0. Abdulrahman Idadi ya Hisa 300.04 0.02 0. Temu Bw. Juma A. Dev) Katika mkutano wa mwaka uliofanyika tarehe 20 Juni 2009. Bw. Machange kutoka kundi la wanahisa wenye hisa pungufu ya asilimia 1 ya mtaji wa Benki walistaafu. Juma A.04 0. Jens Ole Pedersen Nafasi Mwenyekiti Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mjumbe Mkurugenzi Mtendaji Mjumbe Uraia Mtanzania Mtanzania Mtanzania Mtanzania Mtanzania Mdenishi Mtanzania Mtanzania Mtanzania Mtanzania Mtanzania Mtanzania Mdenishi Kiwango cha Elimu CPA(T). Laay Dk. MBA (Int.01 0.02 0.04 0. Nyanza Dk. FCPA M.825 950.02 0.125 52. Charles S. A (Econ)Planning M. Sylvia Temu kutoka Mfuko wa Uwekezaji wa DANIDA. Nyanza Bi. Dk. Ally H.02 0.800 13.000 26. A (Econ)Pop studies MSc (System Eng. Bank & Finance) CISA.01 0. Luhanga na Bw. Joachim Bw.500 6. Sylvia S. Bi. Machange Bi.002 0. Luhanga kutoka kundi la wanahisa wenye hisa zaidi ya asilimia 1 ya mtaji wa Benki na Bw. Temu Bi.01 Idadi ya Hisa 42. Joyce N.400 76. Machange Bw. Martin J. Mmari Bw. Joyce W. Joachim Bw.009 0. Kai Kristo ersen Bw.945 1. Boniface C.002 0. MA.800 241.320 49. Joseph C.000 44. Maslahi ya Wakurugenzi Maslahi ya wakurugenzi katika mwaka 2009 ni kama ilivyoonyeshwa katika jedwali hapa chini: Jina Bw. Joyce W.500 108.
039. Jumla ya ujira uliolipwa ni Sh.000 21.260 26.000. kundi la wanahisa ambao kila mmoja ana hisa kati ya asilimia 1 na 10 ya hisa zote za Benki na kundi la wanahisa ambao kila mmoja ana hisa zenye thamani pungufu ya asilimia 1 ya hisa zote za Benki.4 3.660.6 44 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .780 2.625 36.500.8 1.615.250 36.160 2009 Asilimia 31.032.079.3 2008 Idadi ya Hisa 74.082.176.200 2008 Asilimia 30.3 1.000 2.200 15. Wenye Hisa Nyingi Katiba ya Benki ya CRDB inatambua makundi matatu ya wanahisa ambayo ni kundi la wanahisa ambao kila mmoja ana hisa zenye thamani zaidi ya asilimia 10 ya hisa zote za Benki.094.104.082.000 5.180 Asilimia 30.775 1.405.2 1. Kundi la Wanahisa Idadi ya Hisa Zaidi ya asilimia10 Asilimia 1 hadi asilimia 10 Chini ya asilimia 1 Jumla 685.746 117.200 3.183.000 130.098.268.0 Idadi ya Hisa 74.680 409.8 49.2 1.196.705 2.401.6 1.0 1.000 3.1 1.250.2 1.020 247.000 1.1 52.800 26.950.143.7 1.0 22.781.6 47.1 2.674.7 100.000 3.200 56.7 1.1 5.000.934 217.600 71.980 117.000 13.5 10.0 Wanahisa wenye asilimia moja au zaidi kila mmoja ya hisa zote wameorodheshwa hapa chini: 2009 Wanahisa DANIDA Investíment Fund Parastatal Pension Fund IPP Limited Public Services Pension Fund The Local Authorities Pension Fund Western Zone Tobacco Growers Cooperation Hans Aingaya Macha CMG Investment Ltd SHIRECU Epack Investment Fund Lindi Development Fund Kagera Coop Union (1990) Ltd Jumla Idadi ya Hisa 467.760.000 24.0 50.3 1.240 21.1 1.333. 236 milioni.000 2.700.100.3 1.4 100.0 6.1 1.000.455 Asilimia 21.532.000 28.2 1.Ujira kwa Wakurugenzi Wakurugenzi wote isipokuwa wawili tu wamekuwa siyo watendaji.000 4.5 18.104.532.790. Ujira kwa wakurugenzi wasio watendaji ulilipwa kama ulivyopitishwa na Mkutano Mkuu wa mwaka uliopita.137.000.452.0 5.
kati yao 96 (asilimia 71) walikuwa wanaume na 40 (asilimia 29) wanawake. Hii inaendana na ukuaji wa Benki kwa ujumla na ongezeko la vituo vyake vya biashara. Joyce N. Ally H. Ustawi wa Wafanyakazi Ilipo ka Disemba 2009 Benki ilikuwa na wafanyakazi 1. dini au ulemavu ambao haumkwamishi kumudu kazi aliyoiomba. 43 milioni).4 ya mwaka 2008. walipata mafunzo maalum ili kukabiliana na janga la UKIMWI. 59 milioni) na Dk Kimei (Sh. Benki pia iliingiza programu za masuala ya VVU katika mafunzo ya mwanzo kwa wafanyakazi wapya na mafunzo mengineyo. Mwaka 2009 Benki iliajiri wafanyakazi 136. Wahamasishaji rika kuhusu janga la UKIMWI toka idara zote za Benki. Na wafanyakazi wote wameendelea kuhimizwa ili wapime afya zao kwa hiari. Laay (Sh. Ongezeko la wafanyakazi kwa mwaka lilikuwa asilimia 5 ukilinganisha na asilimia 7. Nyanza na Dk. Bi. 12 Milioni). Mwaka 2009. kabila. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 45 . Charles S. Masoko Benki ilitumia mikakati mbalimbali ili kuendeleza na kuongeza uelewa wa wateja kuhusu bidhaa na huduma za Benki. ili pia kuimarisha chapa ya kampuni na kuongeza uelewa wa wateja juu ya vituo mbalimbali vya kutolea huduma za Benki. Kwa upande wa menejimenti wanawake ni asilimia 24. Kimei walikuwa na salio la mikopo kama inavyoonyeshwa kwenye mabano: Bw. Joyce N. Bi. Laay. Nyanza (Sh. Ally H. hivyo katika kipindi hiki wafanyakazi wachache wa vyeo vya juu waliajiriwa. Benki pia iliweka mkazo katika uelewa wa wafanyakazi wake juu ya masuala ya VVU/UKIMWI kwa kuhakikisha wanapata taarifa muhimu za jinsi ya kujikinga na elimu jumla ya janga hili. Benki hujali usawa katika kutoa nafasi za ajira na inahakikisha yule mwenye uwezo ndiye anayepewa nafasi bila ya kuwepo ubaguzi unaoangalia jinsia.311 kati yao wanaume walikuwa 806 (asilimia 62) na 505 (asilimia 38) wanawake. hususani kwa kufungua matawi au kusimika ATM. Benki ilifanya ta ti mbalimbali ili kubaini maeneo yanayofaa zaidi kwa ajili ya biashara. ndoa. Wengi wa walioajiriwa walikuwa wa ngazi za mwanzo (a sa benki mwanafunzi na mhasibu fedha mwanafunzi).8.Shughuli na Wenye Uhusiano Ilipo ka tarehe 31 Disemba 2009 wajumbe wa Bodi Bw. Itokeapo fursa ya cheo cha juu Benki huijaza kutumia wafanyakazi wa ndani (kwa kuwapandisha vyeo) kadri inavyowezekana.
Pia kampeni maalum kwa ajili ya kutangaza bidhaa mpya yaani akaunti ya Malkia na huduma za kibenki kwa simu ya mkononi yaani SimBanking. thamani ya vifaa vilivyotolewa sanjari na vitanda na magodoro ni Sh. Mchango wa Benki ulikuwa katika maeneo kama: kudhamini shindano la hisabati kule Dodoma na Tanga. 20 milioni. ili kumuwezesha mteja kuwasiliana moja kwa moja na Benki au idara husika anayotaka kuwasiliana nayo. 50 milioni ili kufanikisha mikutano na makaongamano kwa ajili ya wanachama wao. na katika Sikukuu ya Wafanyakazi (Mei Mosi) iliyofanyika Musoma. maonesho ya utalii yaliyofanyika Arusha. Vifaa mbalimbali vilitolewa kwa Chama cha Madaktari wa Meno Tanzania na Hospitali ya wilaya ya Mbinga – wodi ya wanawake ilipewa vitanda na magodoro. heshima. afya na mazingira. Pia kampeni maalum zilifanyika kutangaza Akaunti ya Wanafunzi (Akaunti ya Scholar) na Akaunti ya Watoto (Akaunti ya Juniour Jumbo). huduma zake na pia kuimarisha chapa yake. PPF na UWT zilipata jumla ya Sh. kampeni maalum ziliendeshwa na Benki ili kuufahamisha umma kuhusu uuzwaji wa hisa za Benki katika Soko la Hisa la Dar es Salaam (DSE) na kwamba Benki ya CRDB imeorodheshwa katika Soko la Hisa la Dar es Salaam. kujenga chapa ya Benki. kutafuta biashara na kukutana na wadau wa kibiashara. Mahusiano na Jamii (CSR) Benki ilitenga zaidi ya Sh. MEWATA.Benki ilishiriki katika makongamano mbalimbali na maonesho ya biashara. Matukio haya yalitumika kama majukwaa ya kujitangaza. Benki ilifanyia maboresho na marekebisho tovuti yake (www. 250 milioni ili kusaidia maendeleo na ustawi wa jamii hususani katika elimu. Wakaguzi Mkutano Mkuu wa Mwaka uliofanyika tarehe 20 Juni 2009 uliiteua kampuni ya Deloite &Touche kuwa wakaguzi katika kipindi cha taarifa hii ya mwaka. michango kwa Mamlaka ya Elimu Tanzania (TEA) na kwa Mfuko wa Elimu wa Waziri Mkuu.crdbbank.com). Benki pia iliandaa makongamano ya kahawa na pamba yaliyofanyika kule Mbeya na Shinyanga kwa ajili ya wateja. ikiwa ni pamoja na Sikukuu ya Wakulima yaani Nane Nane iliyofanyika Dodoma. Katika makongamano na mikutano hii Benki ilipata fursa ya kutangaza bidhaa zake. Shukurani Bodi inapenda kuishukuru menejimenti pamoja na wafanyakazi wote ambao katika hali ngumu iliyowakabili wameonyesha ujasiri wa kipekee. Arusha na Kahama. mshikamano na utendaji bora katika 46 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Katika mwaka huo. ujenzi wa vyumba vya madarasa katika shule ya Sekondari Mtunduru mkoani Singida.
KWA AMRI YA BODI _______________ MWENYEKITI _______________ MKURUGENZI 19 Machi 2010 __________________ 19 Machi 2010 ___________________ Taarifa ya Mwaka [Annual Report 2009 Annual Report] 47 .mwaka huu. imani na kutuunga mkono katika kipindi hiki. wanahisa na wajumbe wa Bodi za Ushauri za Benki kwa uaminifu. kwani bila hayo hatunge kia mafanikio tuliyopata. Bodi pia inapenda kuwashukuru wateja.
Interest income on overdrafts and term loans was Tshs. customer deposits grew by 28%. Foreign exchange income was Tshs. total deposits were Tshs. utilities and public services (including electricity.Report of The Directors For the year ended 31st December 2009 The Directors are pleased to present their report and the audited consolidated and separate nancial statements of the CRDB Bank Plc for the year ended 31 December 2009. accounting for over 26 % of the portfolio. The Bank is one of the major nancial services providers in Tanzania and it is engaged in corporate and retail banking. The agricultural sector continued to dominate. 1. transport and communication each 7%.621 billion. which continued to be strengthened by ongoing branch refurbishment. 2 branches were refurbished. Deposits In 2009. schools. The growth was attributed mainly to the Bank's brand. 48 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . hospitals and water) 13%. hotels and restaurants 5%. 15 billion in 2009 compared to Tshs. opening of new outlets. and mining & quarrying 1%. 2006 and its principal activity is the provision of banking services. building & construction 5%. In year 2009. branded “OPICS” in March 2009. Lending The net loan portfolio rose by 14% from Tshs. 89 billion in year 2008 and represented 58% of the total Bank's operating income. and innovative marketing campaigns. The Bank o ers a full range of commercial banking as well as share registration and insurance agency services. up from Tshs. personal loans 12%. nancial intermediaries 7%. including micro nance services. manufacturing and processing 7%. As at 31 December 2008. During the year. new products. Treasury In order to provide our clients with better services and products. this contributed 8% of the Bank's total operating income. and also provide appropriate management information and analysis for Asset and Liability Management Committee (ALCO).273 billion while at 31 December 2009 deposits had reached Tshs. the Bank implemented a Treasury Management System. followed by trade and commerce 17%. 950 billion at the end of 2009. 6 new branches opened and 32 ATMs installed making the total of operating ATMs to be 132. Principal Activities and Business Review The Bank is licensed under the Banking and Financial Institutions Act. CRDB Bank was a major player in interbank funding providing Tanzanian Shillings liquidity to other banks at competitive rates. The Bank operates through a network of 60 branches (including agencies) and in partnership with 425 Micro nance Institutions (MFIs) located throughout Tanzania Mainland and the Isles. 13 billion in 2008. 1.117 billion. 837 billion at 31 December 2008 to Tshs. real estate. tourism.
30 million in 2008 to Tshs. interest income on placements. The portfolio at risk was at 1. treasury bills and bonds contributed 14% of the Bank's total operating income. In year 2009. Card Business During 2009. total loans amounting to Tshs.068 normal Tembocards in use as at 31 December 2009.892 TemboCardVisa and 3. and amortization of grants income all of which contributed to 20% of the Bank's total operating income. fees and charges reached Tshs. Other Income Other income includes fee based income. paddy and other crops. As at 31 December 2009 the balance on the total loans extended by the Bank to 222 MFIs stood at Tshs. 6 billion. 14 billion were approved to 25 partner MFIs for farm mechanization including purchasing of power tillers and tractors to support farmers in modernized irrigation schemes for grape production. Micro nance Business The number of partnering Micro nance Institutions (MFIs) under the micro nance programme. 118 billion. Out of the total loan portfolio Tshs. Average loan size increased from Tshs. Small and Medium Enterprises (SME) The SME loan portfolio doubled both in number of borrowers and in value during 2009. 50 million. CRDB Micro nance Services Company Limited.Money market activities contributed signi cantly to the interest income that the Bank earned in 2009. The Bank through its subsidiary. As at 31 December 2009 a total 502 point of sale (POS) devices were at merchant outlets accepting both Visa credit and debit cards.e farm inputs and tractors. increased by 49 from 376 in 2008 to 425 in 2009. 13 billion. 70 billion. During the year 1. Total interest income. sugarcane and tea were also nanced through the micro nance arrangement. continued to support the government initiatives for improving agricultural systems through “Kilimo Kwanza” strategy by assisting the farmers to improve their productivity as well as secure better prices for their produce. the Bank issued a total of 200. The warehousing receipt systems which assisted to secure better prices for cereals.156 loans were approved with a total value of Tshs.755 normal TemboCards which gives a cumulative total of 314. pro t on disposal of properties and equipment. 4 billion of year 2008. 15 billion were loans extended to agricultural production activities i. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 49 . compared to Tshs. The MFI portfolio at risk was 3%.5%. cashew nuts. Their total deposits with the Bank were Tshs.868 TemboCardVisa and 291.
In tandem.9 billion was received during the year in respect of losses incurred by cotton buyers. 2009. Future Developments The year 2009 was the second year in implementation of the Bank's Strategic Business plan for 2008-2012. The challenge ahead is building capacity and infrastructure for provision of services to all segments of customers. The Bank will continue to o er customized banking services to corporate and institutional customers as well as take measures to improve risk management. 80 billion in 2009 compared to Tshs. In tandem with this the Bank also acquired a Trade Finance System and Mobile (Cell phone) banking system trading under the brand name CRDB SimBanking. 2006. better use of e-banking delivery channels.200 to 2.Information Communication Technology (ICT) The Bank started implementation of a new core banking system (the Bank Fusion – Universal Banking from Misys).532.000 to 4.000. 5 billion in 2008 due to deterioration of loan portfolio performance on account of the global nancial crisis.333. 8. However. 9. Solvency The state of a airs of the Group as at 31 December 2009 is set out on page 68 of the nancial statements. 18 billion during 2009 compared with Tshs.3 billion received in February 2010. The changes in the number of shares from January. the Bank increased its provisions for loan losses by Tshs. there was an increase in the number of authorized shares from 1. 2008 which were implemented in January. In this plan the Bank continues to focus on retail banking by o ering quality products and services through enhanced network expansion. 2009 were as follows: 50 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . These changes resulted from the resolutions made at the Extraordinary General Meeting held on 6th December. 62 billion in year 2009 compared to Tshs. Financial Results The Bank recorded a pro t before tax and provision for loan losses of Tshs.160 ordinary shares at the end of the year.000. Share Capital During the year 2009.000 shares as a result of the share split of 1:4. 65 billion in 2008 representing an increase of 23% on the previous year result. and enhancements to the Bank's technological platform. 60 billion last year marking an increase of 3%. thus the capital of the Bank increased from 247. Also there was an increase in issued and fully paid up share through a rights issues. The Directors consider the Group to be solvent within the meaning ascribed by the Tanzania Companies Act 2002 and Banking and Financial Institution Act. The Bank realized a pre tax pro t of Tshs.000. the Government intervened and provided a rescue package of which a total of Tshs.000.176. and with a further Tshs.
A (Econ)Pop studies MSc. FCPA.333. The total amount of dividend to be recommended will be Tshs. (Eng) ADA. ADA PhD (Money & Finance) MA. 2009 6 Jan. Lydia M.532.000 Initial Public O er (IPO) and Listing During the year.15.Com MBA. BA M. Mr. 8. FCPA (T).000 49.5 billion and it was listed at DSE on 17 June 2009. B. 4. 9.666.600 2.466. Name 1. Boniface C. Directors The Directors who served the Bank since 1 January 2009 up to the date of this report except as otherwise indicated are: No. 7 per share. Nyanza 12.2 billion. Luhanga Mrs.Sc. Charles S.000 54. Joachim Mr. 2. Bank & Fin) CISA. the Board of Directors made a decision to o er to the public and list the Bank’s shares at the Dar es Salaam Stock Exchange (DSE). (ii) to enhance public image of the Bank. Joyce W.978. 5.200 494. The reasons for listing were as follows.665. Juma A.000 49.176. Mrs.640.400 1. (Syst. 6. 2009 9 Mar.A (Econ) Planning M. Mr. Ally H. Dr. Lyimo Mr. Mmari Mr. Dr. Joyce N. B.413.Sc (Eco) Dip (Fin) Dip (Org. Muhegi Mr. 3. MSc (Fin). Bede P. M.Dev) 10. Kai Kristo ersen Mr. PGDA.304.320. Martin J. Laay Position Chairman Member from 2 August 2009 Member Member Member Member Member Member Member Member (retired June 2009) Member Member (ex–o cio) Member (Deputy Managing Director ex o cio) Nationality Tanzanian Tanzanian Tanzanian Tanzanian Tanzanian Danish Tanzanian Tanzanian Tanzanian Tanzanian Tanzanian Tanzanian Danish Quali cation CPA(T).640. 7. 2009 6 Jan. Jens Ole Pedersen Taarifa ya Mwaka [Annual Report 2009 Annual Report] 51 . Dividends The Directors will recommend to the Annual General Meeting a dividend payment of Tshs. 2009 Number of shares Nominal value Amount – (Tshs. MBA (Finance and Marketing) PhD. Machange Mr.Event Opening Balance After Bonus Shares – 1:1 After Share Split – 1:4 After Rights Issue – 1:10 Date 1 Jan. and (iii) to allow trading of Bank’s shares at the stock exchange. MBA (Int. Sylvia S.733. Joseph C. Eng) LLM. The Bank was able to raise a net capital of Tshs. (i) to increase the options for raising capital. Abdulrahman Ms. Masters of Management Studies MBA.466. Kimei 13.) 247. Temu 11. 16.160 100 100 25 25 24.
945 1. Total fees paid for the year were Tshs. Sylivia Temu for DANIDA Investment Fund.04 0. As at the end of the year. Machange stood for re-election and were re-elected.009 0. Luhanga and Mr. Luhanga Mrs Joyce N. Joyce W.079. namely shareholders holding 10% and more of the total paid up shares.532.220 205.800 241.000 106. the shareholding of these three groups was as follows: Group of shareholders 10% and more 1% but below 10% Less than 1% 2009 Number of shares Percentage 685. Boniface C. Joseph C. Machange from shareholders with less than 1 % of the Bank's Share capital retired.680 409.04 0.02 0. Nyanza Mrs.02 0. Juma A. Joseph C.176. Juma A.002 0.825 950.000 178.689. Laay Mr. Remuneration for non executive Directors was approved by the last Annual General Meeting. Muhegi Dr.333.01 0.01 Number of shares 300. DK.4 100. Abdulrahman 2009 2008 Percentage 0. Martin J.Joachim Mr. Lydia M.0 22.104.002 0.004 0.200 56. Mr.800 13.02 0. Sylvia S. Temu Mr.6 47.800 405.705 2. Ally H.500 6.0 Number of shares 74.710 Remuneration of Directors All Directors except the 2 ex-o cio members were non-executive.032. Ms.5 18. Joyce W. Kimei Mr. Abdulrahman was also elected from shareholders with less than 1% of the Bank’s share capital.400 76.160 31. Signi cant Shareholding The Bank's Articles of Association recognizes three categories of shareholders.08 0.04 0.125 52. Luhanga from shareholders with more than 1% of the Bank's Share capital and Mr.200 2008 Percentage 30. 236 million.500 108. Joseph C.04 0.183.07 0. Charles S.196.0 52 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .01 0.02 0.000 28.At the Annual General Meeting held on 20 June 2009. and shareholders holding less than 1%.541 450. Joyce W.775 1. Mmari Dr.020 247.268.980 117.01 Number of shares 42. Directors Interest in the Issued Share Capital Directors' interest in the shares of the Bank for the year 2009 is summarized below: Name Mr.8 49. Machange Ms.000 44.02 0.660 Percentage 0.320 49.025 973.7 100. Ms. shareholders holding between 1% but below 10% of the total paid up shares.082.
religion and disability which does not impair ability to discharge duties. Employee Welfare As at 31 December 2009 the Bank had 1.8% were female.800 26.700.746 117.250 36.1 5.200 3. marital status.180 30.4 3.600 71.104. tribe.3 1. hence.7 1.000 2. 59 million and Tshs.000 3.000 28.000 5.098.0 5. 43 million respectively.452. Kimei had personal outstanding loan balances of Tshs.094. This is in keeping with the overall growth of the Bank and its outlets.455 21. The annual growth in sta ng was 5% as compared with 7.000 130. Laay.039.950.0 50.6 0.137.674.000 1.000 24.3 74.200 15.Shareholders holding 1% or more are listed hereunder: 2009 Group of shareholders Number of shares Percentage 2008 Number of shares Percentage Danida Investment Fund Parastatal Pension Fund IPP Limited Public Service Pension Fund The Local Authorities Pension Fund Western Zone Tobacco Growers Cooperation Hans Aingaya Macha CMG Investment Ltd SHIRECU Epack Investment Fund Lindi Development Fund Kagera Coop Union (1990) Ltd TOTAL 467.143.660. Joyce N.0 1.100.000.260 26.000.5 10. Mr Ally H.780 2.082.2 1.6 Related Party Transactions As at 31 December 2009 Board Members.0 6. Tshs.7 1. Bank O cer Trainees and Bank Teller Trainees).625 36. 12 million.4% in the year 2008. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 53 .760.1 2.000 4. In the year 2009 the Bank recruited 136 employees of which 96 (71%) were males and 40 (29%) were females. Most of the recruits were entry level hires (i.1 1.000. It gives equal access to employment opportunities and ensures that the best available person is appointed to any given position free from discrimination of any kind and without regard to factors like gender.1 1.934 217. The Bank is an equal opportunity employer.250.781.2 1. At management level 24.000 2.311 employees out of whom 806 (62%) were males and 505 (38%) females.615. and Dr. during the period the recruitment of senior sta was relatively low.000.0 1.532.000 13.405. Nyanza.240 21.790.3 1. The bank promotes from within whenever possible. Mrs. Charles S.3 1.1 52.e.401.500.000 21.1 1.2 1.000 3.2 1.8 1.
20 million for purchase of equipment. Peer Health Educators from all business units were trained in year 2009 and all sta were encouraged to continue participating in the voluntary testing national campaign. The Bank has integrated HIV/AIDS awareness programmes into the induction programme and other training conducted by the Bank. The new website allows customers to select the business unit they wish to communicate with and follow up status of their enquiries. The Bank revamped its website (www. Marketing The Bank continued employing strategic marketing mix to increase public awareness of its products and services.com). Arusha and Kahama.crdbbank. Karibu Tourism Fair in Arusha as well as National May Day exhibitions in Musoma. the Bank conducted marketing campaigns to support the IPO and listing of the Bank’s shares at the Dar es Salaam Stock Exchange (DSE) and also the launch of Malkia Account and Cellphone banking service branded CRDB SimBanking. Corporate Social Responsibility The Bank committed over Tshs 250 million to support social responsibility activities in the areas of education. These included sponsorship of mathematics competition in Dodoma and Tanga. and beds and mattresses for women's wards respectively. Tanzania Dental Association and Mbinga Government Hospital also received a total of Tshs. The Bank participated in various forums and trade exhibitions. The Bank also conducted Co ee Forum in Mbeya and Cotton Forum in Shinyanga for its borrowing customers. Scholar account and Junior Jumbo were also extensively promoted. construction of class rooms at Mtunduru Secondary school in Singida and support to Tanzania Education Authority and Prime Minister's Education Trust. 54 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . health and environment as well as participation in conferences. MEWATA. delivery channels as well as strengthening its corporate brand. including the Farmer’s Day (“Nane Nane”) exhibitions in Dodoma. During the year.In the year 2009 the Bank focused on activities that created more awareness on HIV/AIDS among sta members by providing them with updated information on HIV/AIDS with an emphasis on the preventive strategies and education against the pandemic. PPF and UWT received a total of Tshs 50 million for organizing conferences for its members where the Bank had opportunity to market and sell its products and services. The Bank also conducted feasibility studies to assess viability of locations for outlets.
Acknowledgement The Board wishes to thank the management and all employees who in the face of adversity have shown exemplary courage. BY ORDER OF THE BOARD _________________________ Chairman _______________________ Director _____________________ 19th March 2010 19th March 2010 ____________________ Taarifa ya Mwaka [Annual Report 2009 Annual Report] 55 .Auditors The Annual General Meeting held on 20 June 2009 appointed Deloitte & Touche as auditors of the Bank for the year under review. dignity. shareholders and Branch Advisory Committee members of the Bank for their commitment. trust and support during the period without which these results would not have been achieved. The Board also wishes to express its appreciation to the customers. solidarity and for the good performance during the year.
2009 Mjumbe Mjumbe Mjumbe kuanzia Oktoba. kamati hukutana mara nne kwa mwaka. Nyanza Bw. Juma A. 2009 Wakurugenzi wanaridhia kuwa utawala bora ni nguzo muhimu ya utendaji bora wa Benki. Temu Nafasi Mwenyekiti kuanzia Oktoba. 2009 Kamati ilifanya mikutano mitano katika mwaka 2009. Kwa uchache kabisa. Joseph C. Bodi na kazi za kamati za Bodi na utawala wa Benki kwa ujumla. Muundo wa Bodi Bodi inajumuisha wakurugenzi 12 ndani yao wakiwemo 10 wasio watendaji rasmi. Machange Bw. Kazi za kamati zinasimamiwa na muongozo wa kamati ulioidhinishwa na Bodi. Mkurugenzi Mtendaji na naibu Mkurugenzi Mtendaji ni wajumbe kutokana na nyadhifa zao. 2009 Mjumbe Mwenyekiti mstaafu tangu Juni. wakurugenzi wameendelea kukazia mifumo ya utawala bora kwa kuboresha sera. Kamati Hadi ku kia 31 Desemba. Mkurugenzi Mtendaji. Ally H Laay Bi. Mwenyekiti ambaye si mtendaji huchaguliwa na wakurugenzi kila mwaka kuongoza Bodi. Kamati ya Utawala Bora na Usimamizi wa Mali na Kamati ya Mikopo. Abdurahman Bw. Mikutano wa Bodi Bodi ilifanya mikutano nane kwa mwaka. 2009 Bodi ilikuwa na kamati tatu ambazo ni Kamati ya Ukaguzi wa Mahesabu. 56 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Kamati ya Ukaguzi wa Hesabu Jina Bw.Tamko la Wakurugenzi Utawala Bora kwa Mwaka Ulioishia 31 Desemba. Hivyo basi. Kai Kristo ersen Dk. Mkutano mmojawapo ulijikita katika kupitia na kutengeneza mikakati ya kibiashara ya Benki. Sylvia S. Mkurugenzi wa Fedha na Utawala na Mkurugenzi wa Ukaguzi wa Mahesabu ya ndani walihudhuria mikutano hiyo. Naibu Mkurugenzi Mtendaji. Wakaguzi wa nje walialikwa na kuhudhuria mikutano miwili. Mwongozo wa Bodi na mikataba ya kamati za Bodi vilirekebishwa mwaka huu zikiwemo pia sera za Benki. Joyce N.
Mmari Bw. Naibu Mkurugenzi Mtendaji. Joyce N. Lyimo Bi. Mkurugenzi Mtendaji. Lyimo Bw. Nyanza Dk. Mkurugenzi wa Hazina na Mkurugenzi wa Usimamizi wa Hatari ya Hasara walihudhuria mikutano hiyo. Bede p. Bede P. Martin J. wakala wa mfuko wa wa uwekezaji wa Denmark (DANIDA) huteua wakurugenzi wawili na Mfuko wa Pensheni wa Mashirika ya umma huteua mkurugenzi mmoja. Joseph C. Mmari Bi. Boniface C. Kila mjumbe anayemiliki asilimia 10 ya hisa zilizotolewa na kulipiwa ana haki ya kuchagua mkurugenzi. Wajumbe wenye asilimia 1 hadi 10 za hisa zilizotolewa na kulipiwa kwa pamoja wana haki ya kuchagua mjumbe mmoja wa Bodi kwa kila asilimia 10 ya hisa zilizotolewa ikizingatiwa katika hisa hizo hakuna zinazo kia asilimia 10 kutoka kwa mmoja wapo kwa kuwa mwenye hisa zinazo kia asilimia 10 ana haki ya kuchagua Mkurugenzi wa Bodi. Kamati ya Mikopo Jina Bw.Kamati ya Utawala Bora na Usimamizi wa Hatari ya Hasara Jina Bw. Mkurugenzi Mtendaji. Kai Kristo ersen Bw. Luhanga Bw. Uteuzi wa Wakurugenzi Bodi hupitia maombi ya waombaji wa nafasi za ujumbe wa bodi ukizingatia muongozo wa kipengele cha sheria za Taasisi za Fedha na Asasi za Fedha ya mwaka 2006 na katiba ya Benki. 2009 Kamati ilikutana mara nne katika mwaka. Temu Nafasi Mwenyekiti Mjumbe Mjumbe Mjumbe Mjumbe kuanzia Julai. Naibu Mkurugenzi Mtendaji na Mkurugenzi wa Mikopo walihudhuria mikutano hiyo. 2009 Mjumbe aliestaafu Juni. Joyce N. Martin J. Sylvia S. Ally H. Muhegi Nafasi Mwenyekiti Mjumbe Mjumbe Mjumbe Mjumbe Kamati ilikutana mara kumi na moja kwa mwaka. Machange Bw. Laay Bw. Wanahisa wenye hisa pungufu ya asilimia moja zinazotolewa na kulipiwa kwa pamoja wanachagua mkurugenzi mmoja na mwingine kwa kila aslimia kumi za hisa walizonazo. Hivyo. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 57 .
kazi za wakaguzi na mambo mengine mbalimbali. Kozi hii imelenga kuwapa uwezo stahili wa kazi husika. Mahusiano na Wakaguzi wa Mahesabu Kamati ya ukaguzi wa mahesabu na Bodi vilifanya mkutano na wakaguzi wa nje kuhusu vipengele vihusuvyo mahusiano na wakaguzi. KWA IDHINI YA BODI _______________________ Mwenyekiti ________________________ Mkurugenzi 19 Machi 2010 _______________________ 19 Machi 2010 _______________________ 58 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Wakurugenzi walihudhuria mafunzo juu ya umuhimu wa kuwakopesha wafanyabiashara wa biashara ndogo na za kati. Semina iliyohusu ushauri wa mapendekezo ya kubadili katiba na muongozo wa benki na taratibu za uuzwaji na ununuzi wa hisa za Benki ilifanyika katika kipindi cha Mkutano Mkuu wa Benki. Kupima Utendaji wa Wakurugenzi Sambamba na muongozo wa Bodi. Kamati za ushauri wa matawi zilikutana mara nne kwa mwaka. Mahusiano ya Wanahisa Benki ilitoa jalada la wanahisa mara mbili kwa mwaka lililosheheni habari za utendaji wa benki.Kozi ya Awali Wakurugenzi hupitia kozi fupi ili kupata uzoefu wa masuala ya kibenki na uongozi. Mkutano Mkuu wa Mwaka. maswali yenye kuulizwa mara nyingi na majibu pamoja na bidhaa na huduma za benki. Maeneo yenye mapungufu yaliainishwa na matokeo yake hutumika kuboresha utendaji kwa mwaka unaofuatia. Kila kamati pia ilifanya utathmini wake. jinsi ya kujiunga na soko la hisa na uendeshaji wa matawi ya benki. Masuala na mapendekezo yaliyotolewa katika mkutano yaliwakilishwa kwenye Bodi kwa utekelezaji na kupatiwa majibu. Mkutano mkuu wa mwaka ulifanyika tarehe 20 Juni 2009 mjini Arusha ambapo ajenda zilizowakilishwa kama ilivyoainishwa kwenye Katiba ya Benki iliwakilishwa na kujadiliwa. wakurugenzi walitathmini utendajiwa Bodi. Maboresho ya Katiba na Muongozo wa Benki yalipitishwa kwenye mkutano. Mikutano ya matawi ya wanahisa ilifanyika mwezi Aprili kwa matawi maalumu ambapo matokeo ya mwaka ya utendaji wa benki yalijadiliwa. semina zilifanyika katika mikoa mbalimbali juu ya kujiunga na Soko la Hisa la Dar es Salaam. Kwa nyongeza.
Audit Committee Name Mr. Nyanza Mr. Machange Mr. The Committees meet a minimum of four times a year. Juma A. Director of Finance & Administration and the Director of Internal Audit participated in the meetings. leads the Board. the Directors continued to strengthen good governance systems by reviewing policies.Directors’ Statement on Corporate Governance For the year Ended 31st December 2009 The Directors consider corporate governance a key to good performance of the Bank. The activities of the Committees are governed by the respective Committee Charters approved by the Board. Deputy Managing Director. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 59 . Board Meetings The Board held eight meetings during the year. the Governance and Risk Management Committee. Board Structure The Board comprises of 12 Directors out of whom 10 are non-executive. Temu Position Chairperson from October 2009 Member Member Member from October 2009 Member Chairperson retired June 2009 The Committee held ve meetings during the year. One of the meetings was devoted to the review and development of the Bank's business strategy. and the Credit Committee. Abdulrahman Mr. The Managing Director. The external auditors were invited and attended two meetings. A non-executive Chairman. Joseph C. Sylvia S. The Managing Director and Deputy Managing Director are ex o cio members. Committees As at 31 December 2009 the Board had three Committees namely the Audit Committee. Ally H. Board guidelines and committees’ charters were reviewed during the year as well as policies of the Bank. Joyce N. who is elected by Directors every year. Board and Board committees' activities and general management of the Bank. Laay Mrs. Kai Kristo ersen Dr. In view of this.
Shareholders having shares less than 1% of the issued and fully paid up share capital of the Bank jointly elect one director and additionally one director for every 10% of shares held. Credit Committee Name Mr. Appointment of Directors The Board reviews applications from candidates for board membership in conformity with the Banking and Financial Institutions Act 2006 and the Bank's Articles of Association. the Deputy Managing Director and the Director of Credit participated in the meetings. Muhegi Position Chairperson Member Member Member Member The committee met eleven times during the year. Consequently the Danish International Development Agency (DANIDA) Investment Fund appoints two directors and Parastatal Pension Fund appoints one director. Mmari Mrs. Laay Mr. Temu Position Chairperson Member Member Member Member from July. Boniface C.Governance and Risk Management Committee Name Mr. 2009 Member retired June. Bede P. The Managing Director. Sylvia S. Lydia M. Martin J. Mmari Mr. Kai Kristo ersen Mrs. Joyce N. 2009 The Committee met four times during the year. Director of Treasury and Director of Risk participated in the meetings. The Managing Director. Joyce N. Martin J. the Deputy Managing Director. Induction Training The Directors undergo an orientation programme to expose them to the activities of the Bank 60 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Joachim Ms. Every member owning 10% of the issued and fully paid up share capital of the Bank is entitled to appoint one director. Members owning between 1% and 10% of the issued and fully paid up shares of the Bank are jointly entitled to elect one director for every 10% of shares held provided that any part of 10% which does not by itself add up to a whole 10% is not entitled to elect a director. Lyimo Mr. Machange Mr. Nyanza Dr. Joseph C. Luhanga Mr. Ally H.
frequently asked questions and products and services o ered by the Bank. stock exchange listing requirements and branch operations. seminars were conducted in various regions on trading and listing at Dar es Salaam Stock Exchange. Relationship with Auditors The Audit Committee and the Board held meetings with the External Auditors to discuss terms of engagement of the Auditors. A seminar covering the proposed amendments to the Memorandum and Articles of Association of the Bank and Procedures of selling and buying CRDB Bank shares was held on the eve of the Annual General Meeting. Amendments to the Memorandum and Articles of Association of the Bank were passed at the same meeting. Shareholders Relations The Bank issued two newsletters (“Mwanahisa”) to shareholders providing them information on the Bank's performance. Directors' development and training is tailored to meet individual requirements. Shareholders’ meetings were held in selected branches in April 2009 during which the Bank’s performance was discussed. In addition. BY ORDER OF THE BOARD _________________________ Chairman _______________________ Director 19th March 2010 _______________________ 19th March 2010 _________________________ Taarifa ya Mwaka [Annual Report 2009 Annual Report] 61 . the work of the auditors and other various issues.and governance matters. Areas of weakness were noted and results are used for performance improvement in the coming year. Directors’ Performance Evaluation In line with the Board guidelines the directors evaluated the performance of the Board. Annual General Meeting The Annual General Meeting was held on 20 June 2009 in Arusha during which the standing agenda as provided in the Articles of Association was presented and transacted. Branch Advisory Committees met four times during the year. Issues and recommendations raised in the meetings were presented to the Board for consideration and feedback. The Directors attended training during the year on the role of nancing SMEs. Each committee also conducted its evaluation.
Wakurugenzi wanakubali jukumu la utoaji taarifa ya mwaka wa mahesabu. Pia inahitaji wakurugenzi kuhakikisha kwamba kundi linatunza hesabu halisi inayoweka wazi na ukweli wakati wote hali halisi ya mahesabu ya kundi. Wakurugenzi wanaendelea kukubali majukumu ya utunzaji kumbukumbu za mahesabu ambayo yanaweza kusaidia katika uandaaji wa taarifa za hesabu. kuchagua na kutumia sera sahihi za kiuhasibu. Wakurugenzi wanaridhia kuwa taarifa za fedha za mwaka zinatoa ukweli na usawa wa masuala ya Kundi kwenye taarifa ya mwaka wa fedha na kwenye taarifa ya utendaji wa Kundi. Hakuna jambo lolote lililoleta hisia kwa wakurugenzi kwamba Kundi halitabakia katika muendelezo kwa walau kipindi kingine cha miezi kumi na miwili kunzia tarehe ya taarifa hii. ambazo zimeandaliwa kwa kutumia taratibu bora za utunzaji mahesabu zinazosaidiwa na maamuzi na makadirio sahihi kwa kuzingatia viwango vya utoaji taarifa za mahesabu vya kimataifa na kwa namna inavyohitajika na sheria za makampuni ya mwaka. KWA IDHINI YA BODI _____________________ Mwenyekiti _________________________ Mkurugenzi 19 Machi 2010 _____________________ 19 Machi 2010 ____________________ 62 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . 2002. uundaji. pamoja na mfumo mzuri wa udhibiti wa mahesabu ya ndani. utekelezaji na utunzaji mifumo ya ndani ya udhibiti katika uandaaji na uwasilishaji taarifa sahihi za mahesabu zilizo huru dhidi ya vitu vya upotoshaji taarifa. Wakurugenzi wanawajibu wa katika kuandaa na kuwasilisha taarifa ya fedha inayokidhi viwango vya uwasilishaji hesabu za fedha vya kimataifa na sheria za makampuni ya mwaka 2002.Tamko la Wakurugenzi Wajibu Sheria ya makampuni ya mwaka 2002 inawataka wakurugenzi kuandaa taarifa ya kufunga hesabu za kila mwisho wa mwaka inayotoa ukweli na usawa wa masuala ya Kundi la kampuni kwenye taarifa ya mwaka wa fedha na kwenye taarifa ya utendaji wa Kundi kwa mwaka huo. na kufanya makadirio yenye uhalisia. Jukumu hili linahusisha. Pia wanahusika kutunza amana za Kundi la kampuni. iwe kwa udanganyifu au kwa kukosea.
The Directors accept responsibility for the annual nancial statements. This responsibility includes: designing. and making accounting estimates that are reasonable in the circumstances. The Directors further accept responsibility for the maintenance of accounting records which may be relied upon in the preparation of nancial statements. It also requires the Directors to ensure that the Group keeps proper accounting records which disclose with reasonable accuracy at any time the nancial position of the Group and the Bank. which have been prepared using appropriate accounting policies supported by reasonable and prudent judgments and estimates. Nothing has come to the attention of the Directors to indicate that the Group will not remain a going concern for at least the next twelve months from the date of this statement.Statement of The Directors’ Responsibilities The Tanzania Companies Act 2002 (“Companies Act 2002) requires Directors to prepare nancial statements for each nancial year which give a true and fair view of the state of a airs of the Group and the Bank as at the end of the nancial year and of the operating results of the Group and the Bank for that year. implementing and maintaining internal controls relevant to the preparation and fair presentation of nancial statements that are free from material misstatement. selecting and applying appropriate accounting policies. BY ORDER OF THE BOARD _________________________ Chairman _______________________ Director 19 March 2010 _____________________ th 19 March 2010 ________________________ th Taarifa ya Mwaka [Annual Report 2009 Annual Report] 63 . in conformity with International Financial Reporting Standards and in the manner required by the Companies Act 2002. The Directors are of the opinion that the nancial statements give a true and fair view of the state of the nancial a airs of the Group and of its operating results. whether due to fraud or error. They are also responsible for safeguarding the assets of the Group. as well as adequate systems of internal nancial control. The Directors are responsible for the preparation and fair presentation of these nancial statements in accordance with International Financial Reporting Standards and the requirements of the Companies Act 2002.
.Ya kipekee kwa ajili yako! Mpango maalum wa akiba kwa ajili ya wanawake wenye nia ya kuwekeza ili kutimiza ndoto zao.
Directors’ Responsibility for the Financial Statements The directors are responsible for the preparation and fair presentation of these nancial statements in accordance with International Financial Reporting Standards and the requirements of the Companies Act 2002. including the assessment of the risks of material misstatement of the nancial statements. as well as evaluating the overall presentation of the nancial statements. Auditors’ Responsibility Our responsibility is to express an opinion on these nancial statements based on our audit. and the consolidated and parent company statements of comprehensive income.Report of the Independent Auditors To The Members of CRDB Bank Plc We have audited the accompanying nancial statements of CRDB Bank Plc set out on pages 67 to 128 which comprise the consolidated and parent company statements of nancial position as at 31 December 2009. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the nancial statements are free from material misstatement. The procedures selected depend on our judgement. consolidated and parent company statements of changes in equity and consolidated and parent company statements of cash ows for the year then ended. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 65 . whether due to fraud or error. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors. we considered the internal controls relevant to the entity’s preparation and fair presentation of the nancial statements in order to design audit procedures that were appropriate in the circumstances. and a summary of signi cant accounting policies and other explanatory notes. implementing and maintaining internal controls relevant to the preparation and fair presentation of nancial statements that are free from material misstatement. but not for the purpose of expressing an opinion on the entity’s internal controls. selecting and applying appropriate accounting policies. and making accounting estimates that are reasonable in the circumstances. We believe that the audit evidence we have obtained is su cient and appropriate to provide a basis for our audit opinion. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the nancial statements. whether due to fraud or error. We conducted our audit in accordance with International Standards on Auditing. This responsibility includes: designing. In making those risk assessments.
proper books of account have been kept by the Group. C. and ii) iii) the consolidated and Bank’s statements of nancial position and statement of comprehensive income are in agreement with the books of account. in our opinion.Opinion In our opinion. Nchimbi 19 March 2010 ______________________ th 66 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . 2006. the accompanying nancial statements give a true and fair view of the state of nancial a airs of the Bank and its subsidiary as at 31 December 2009 and of Group’s pro t and cash ows for the year then ended in accordance with International Financial Reporting Standards and comply with the requirements of the Companies Act 2002 and the Banking and Financial Institutions Act. based on our audit. that: i) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. so far as appears from our examination of those books. Certi ed Public Accountants (T ) Dar es Salaam Signed by : D. Report on other Legal Requirements As required by the Companies Act 2002 we report to you.
110.069 (5.798.489 510.671 510.146.096.670 356.262 (44.464 39.Consolidated and Bank Statements of Comprehensive Income For the year ended 31st December 2009 GROUP Notes Interest income Interest expense Net interest income Loan impairment charges Net interest income after loan impairment charges Fee and commission income Fee and commission expense Net fee and commission income Net foreign exchange income Other operating income General and administrative expenses Sta costs Pro t before income tax Income tax expenses Pro t for the year Other comprehensive income: Gain on revaluation of equipment De ned bene t gain Total comprehensive income for the year 24 40 1.921.651.765.868 (19.224.440.813.996) 30.507.458.901 14(a) 10 11 12 13 9 91.747) 89.040.268 (43.393) 46.724) (32.211 (18.501) 107.256.434.570 (35.425 (35.573.492) (20.844 (414.243.967) 40.508.029 47.954 126.96.36.1990 1.968.019.318.219.899) 45.223 13.931.190 39.173.049 (15.019.415.703 2008 Tshs ‘000 110.524.154 40.017 84.224 40.230.481.855 1.488) 109.420.196) BANK 2009 Tshs ‘000 143.644.500) (35.107 30.924 40.989.093.937 (18.925.233.029 47.002) 38.286.884 (414.730) (19.535 (16.508.196) 89.873 30.846.565) (34.040.321 (36.057.303 (5.113.177) (37.882 15.409.747) 2008 Tshs ‘000 112.656 Taarifa ya Mwaka [Annual Report 2009 Annual Report] 67 .495.065.870.901 17 (d) 7 8 2009 Tshs ‘000 145.200 13.842 15.764.016.967.256.808) 61.239) (40.636 86.656 1.794.002) 39.634.219 (540.157.393.196 (540.676.855 183.583.706) 91.865) 60.009 (20.824.996) 30.004.415) 61.129.
642.621.652 25.390 TOTAL LIABILITIES AND SHAREHOLDERS’ FUNDS 1.603.646.910 1.587.228 1.882 3.425.645.639 The nancial statements on pages 67 to 128 were approved by the Board of Directors on 19 March 2010 and signed on its behalf by: ________________ Mr.311 1.005 2008 Tshs‘000 184.920.616.621.311 15 16 17 18 19 20 21 22 23 24 26 30 37 40 25 1.249 38 54.592.122.213 728.320 116.750 1.763.671 207.428 2009 Tshs‘000 313.000 60.699 6.357 3.351.087 252.294 1.680.846 1.462 36.601 1.566.173.601.793 1.756 1.317.854.867.029 - 2008 Tshs‘000 184.801 3.433 455.029.146.392 1.803.351.136 31.029 1.082 140.081.500 334.486 209.304 132.652 26.705 140.976.004.029 1.845 24.775.220 205.703. Joyce Luhanga Director 68 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .774.800.719.176 3.308.320 115.632.369.147.932. Charles Kimei Managing Director ________________ Ms.543 38.610 25.082 140.136 44.556 1.616.800.771 326.183.496 510.867.092.176 3.005 24.419 30.317.764.733.703.567.029.183.550 510.910 1.637.981.764.915 19.000 1.867.347 4.920.016.050 401.733.413.433 352.413.259.650 3.737 734.036 252.856 35.139 1.273.505.336.455.407.920.932 351.896 1.690 836.000 57.024.932 351.650 3.449.455.127 949.213 45.336.449.601 1.489 207.220 205.921.866 1.359 18.127 949.365 25.018.596 3.647.Consolidated and Bank Statements of Financial Position As at 31st December 2009 GROUP BANK Notes ASSETS Cash and balances with Bank of Tanzania Placements and balances with other Banks Loans and advances to customers Government securities Other securities Equity investment Other assets Refurbishment costs Intangible assets Property and equipment Prepaid operating leases Current income tax asset Deferred income tax asset De ned bene t asset Assets classi ed as held for sale TOTAL ASSETS LIABILITIES AND SHAREHOLDERS’ FUNDS Deposits from customers Deposits from and loans due to other Banks Other liabilities Subordinated loan capital FDCF Grant RFSP Grant FSDT Grant CRDB Grant TOTAL LIABILITIES SHAREHOLDERS’ FUNDS Share capital Revenue reserve Share premium Statutory reserve De ned bene t reserve Revaluation reserve TOTAL SHAREHOLDERS’ FUNDS 2009 Tshs‘000 313.723.029 1.322 3.114.934.854.449.920.308.036 252.690 836.434 3.723.020 510.000 60.803.505.294 115.605.896 1.854.451.051 1.273.883 31.957.026 1.652 734.860 3.419 19.550 510.605.014 6.705 140.883 728.449.750 300.775.835 18.304 132.976.428 54.179 1.622.635 1.087 252.854.194 401.347 4. Martin Mmari Chairman ________________ Dr.645.639 27 28 29 31 32 35 34 36 1.719.828.704.642.915 3.290 29.
835 18.173.635 140.754 262.440.254 662.733.550 (24.824.901 (4.489 1.932 25.410 54.320 24.619) 40.413.932.351.029 GROUP Share Premium** Tshs ‘000 Retained Earnings Tshs ‘000 Statutory Reserve Tshs ‘000 Revaluation Reserve Tshs ‘000 De ned Bene t Reserve Tshs ‘000 Total Tshs ‘000 104.398 40.632.664) 1.173.824.351.139 At 1 January 2008 Total comprehensive income for the year Transfer to/from statutory reserve* Dividend paid At 31 December 2008 At 1 January 2009 Issue of bonus share Right Issue**** Issue of shares through Initial Public O er**** Pro t for the year Other comprehensive income for the year Total comprehensive income for the year Statutory reserve* Taarifa ya Mwaka [Annual Report 2009 Annual Report] Dividend paid At 31 December 2009 69 .146.489 1.489 236.932.324 510.733.932 45.146.508.901 79.518 47.774.656.049.619 (236.733.246) 132.413.628.284.636 45.733.146.304 18.824.231 45.320) 116.587.154 (4.029 510.664) 140.636 (325.932 91.610 25.186 662.204.764.204.610 25.Statement of Changes in Equity For the year ended 31st December 2009 Share Capital Tshs ‘000 24.845) (4.029 510.320 24.290 18.705 (4.320 4.845 351.764.508.481.246) 207.733.320 24.635 23.304 54.705 325.644.410 164.705 116.636 1.764.
583.680.845 351.324 - BANK Share Premium** Tshs ‘000 Retained Earnings Tshs ‘000 Statutory Reserve Tshs ‘000 Revaluation Reserve Tshs ‘000 De ned Bene t Reserve Tshs ‘000 Total Tshs ‘000 104.365 25.057.353.320 24.413.398 40.632.224 (325.628.664) 140.057.224 46.924 (4.029 510.304 18.932 46.921.016.320) 25.619) 40.70 Statement of Changes in Equity For the year ended 31st December 2009 Share capital Tshs ‘000 24.705 (4.320 4.932 91.664) 1.671 1.359 18.057.353.733.733.566.986 46.845 At 1 January 2008 Taarifa ya Mwaka [Annual Report 2009 Annual Report] Total comprehensive income for the year Transfer to statutory reserve* Dividend paid At 31 December 2008 At 1 January 2009 Issue of bonus shares Rights issue *** Issue of shares through Initial Public O er **** Pro t for the year Other comprehensive income for the year Total comprehensive income for the year Transfer to/from statutory reserve* Dividend paid At 31 December 2009 .705 325.932 (24.224 1.680.029 510.671 1.764.526.256.049.733.304 54.284.029 236.619 (236.320 24.045 18.656 (4.204.065) 207.413.320 24.186 662.921.391.410 54.016.671 510.390 140.845) (4.764.254 662.733.390 23.754 262.733.256.410 164.622.656 79.764.204.705 115.065) 132.550 115.365 25.700 47.188.016.
all motor vehicles will be recorded at revalued amounts. 2008 issue by the Bank of Tanzania over the impairment of loans and advances as per International Accounting Standard (IAS) No.978.176.532. During the year. Share Premium represents the surplus of market price over the nominal value of the shares issued during the year. the Bank had 247. there was a bonus issue of 1:1. comprising the rights issue and Initial Public o ering (IPO). followed by a share split of 1: 4.200 ordinary shares in issue. 39.160.Statement of Changes in Equity For the year ended 31st December 2009 (continuied) * Special Non-distributable Reserve represents the surplus of loan provision computed as per the Bank of Tanzania regulations paragraph 26 of the Management of Risk Assets Regulations.665. The Bank issued share rights at a ratio of 1:10 which increased the number of shares in issue to 2. ** *** **** ***** De ned Bene t Reserve: Represents excess of fair value of long service award fund over the fund’s obligations as at year end. Issue of Ordinary Shares: At 31 December 2008.600 new shares. These resulted in 1. Revaluation Reserve represents the surplus realized from revaluation of motor vehicles following the change in Group’s accounting policy regarding motor vehicles whereby from this year.333. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 71 .
864.579) (22.587.913) (14.283.069.060 295.099.260.451.354) (14.652.374) 20.530 (2.721 295.827) (4.304.711.711.606) 8.645 39.228.053.378 (4.081) 134.623.440) (343.295 453.099.053.236 157.228.360) 23.5188.8.131.526.081.383.618) 42(a) 30 180.502 40.673 (19.726.424.916) (15.463.635.378 (4.501.864.926.151) (18.451.765) 297.856) (343.295 22 23 24 (3.016 (4.652.863) (2.530 (2.275.925 (3.200.295 72 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .538) 20.635.260.151) (18.412.721 295.160) (12.635.596 19.716 2009 Tshs ‘000 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 179.171) 161.017.017) (817.463.299 (19.863) (2.816 (18.295 453.016 (4.171) 160.606) 8.863) (4.596 19.252.060 295.765) 297.041.726.Consolidated and Bank Statement of Cash Flows For the year ended 31st December 2009 GROUP Notes OPERATING ACTIVITIES Cash generated from operations Taxation paid Net cash generated from operating activities INVESTING ACTIVITIES Acquisition of a subsidiary Purchase of intangible assets Purchase of property and equipment Acquisition of leasehold land Proceeds on disposal of equipment Refurbishment costs Net cash used in investing activities FINANCING ACTIVITIES Dividends paid Proceeds from issue of ordinary shares Net cash generated from/ (used in) nancing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December 42(b) (4.579) (23.236 157.604.360) 23.209) (817.635.863) (4.081) 134.053.916) (15.959.053.254 (19.
Agreements for the Construction of Real Estate (eﬀective for annual periods beginning on or after 1 January 2009). IAS 1(2007) has introduced terminology changes (including revised titles for the nancial statements) and changes in the format and content of the nancial statements. Azikiwe Street. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS The following new and revised Standards have been adopted in the current period and have a ected the disclosures and presentation in these nancial statements.O Box 268. • IFRS 1 First-time Adoption of International Financial Reporting Standards (revised May 2008) – Amendment relating to cost of an investment on rst-time adoption (e ective for annual periods beginning on or after 1 January 2009). Taarifa ya Mwaka [Annual Report 2009 Annual Report] 73 . GENERAL INFORMATION CRDB Bank Plc (“the Bank”) and its subsidiary (together “the Group”) provide corporate and retail Banking including micro nance services in Tanzania. • IFRIC 15. The Bank’s shares have been listed on the Dar es Salaam Stock Exchange.Notes to the Consolidated Financial Statements For the year ended 31st December 2009 1. Standards and interpretations adopted with no e ect on the nancial statements The following new and revised Standards and Interpretations have also been adopted in these nancial statements. The Bank is a public limited company incorporated under the Companies Act 2002 and domiciled in the United Republic of Tanzania. Their adoption has not had any signi cant impact on the amounts reported in these nancial statements but may a ect the accounting for future transactions or arrangements. Dar es Salaam. The address of its registered o ce and principal place of business is O ce Accommodation Scheme Building. Details of other Standards and Interpretations adopted in these nancial statements but that have had no e ect on the amounts reported are also set out below. • IFRIC 16. Standards a ecting presentation and disclosure • IAS 1 (as revised in 2007) – Presentation of Financial Statements: Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009). P. 2. and • IFRS 8 Operating Segments – The standard which replaced IAS 14 ‘Segment Reporting’ requires a ‘management approach’ under which segment information is presented on the same basis as that used for internal reporting purposes. Hedges of a Net Investment in a Foreign Operation (eﬀective annual periods beginning on or after 1 October 2008).
Plant and Equipment – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective for annual periods beginning on or after 1 January 2009).e ective immediately on issue. Government Grants and Disclosure of Government Assistance – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009). IAS 32. Interests in Joint Ventures – amendments resulting from May 2008 Annual Improvements to IFRSs – e ective annual periods beginning on or after 1 January 2009. IAS 28. • • • • • • • • • • • 74 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Employee Benefits – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009).2. IFRS 7 Financial Instruments: Disclosures – Amendments enhancing disclosures about fair value and liquidity risk (Revised March 2009 ) – e ective for annual periods beginning on or after 1 January 2009. Financial Reporting in Hyperinflationary Economies – amendments resulting from May 2008 Annual Improvements to IFRSs (May 2008) – e ective annual periods beginning on or after 1 January 2009. Investments in Associates – amendments resulting from May 2008 Annual Improvements to IFRSs – e ective for annual periods beginning on or after 1 January 2009. IAS 36. IFRS for SMEs – International Financial Reporting Standard for Small and Medium-sized Entities (Original issue 2009) . IAS 19. (amendments resulting from May 2008 Annual Improvements to IFRSs and comprehensive revision to prohibit immediate expensing (e ective for annual periods beginning on or after 1 January 2009). IAS 29. IAS 23. IAS 27. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS (Continued) • • IFRS 2. Impairment of Assets – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009. IAS 16 Property. Financial Instruments: Presentation – amendments relating to puttable instruments and obligations arising on liquidation (2008) – e ective annual periods beginning on or after 1 January 2009. Borrowing Costs. Share-based Payment – Amendment relating to vesting conditions and cancellations (e ective for annual periods beginning on or after 1 January 2009). IAS 31. IAS 20. Consolidated and Separate Financial Statements: Amendment relating to cost of an investment on rst-time adoption (revised 2008) and Amendments resulting from May 2008 Annual Improvements to IFRSs – e ective for annual periods beginning on or after 1 January 2009.
IAS 39. • IFRS 3. Agriculture – amendments resulting from May 2008 Annual Improvements to IFRSs (May 2008) . Financial Instruments: Recognition and Measurement – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009). Non-current Assets Held for Sale and Discontinued Operations — amendments resulting from May 2008 Annual Improvements to IFRSs (revised May 2008) – e ective for annual periods beginning on or after 1 July 2009. and IAS 41.2. First-time Adoption of International Financial Reporting Standards — amendments relating to oil and gas assets and determining whether an arrangement contains a lease (revised July 2009) – e ective for annual periods beginning on or after 1 January 2010.e ective annual periods beginning on or after 1 January 2009 • • Standards and interpretations issued but not e ective in the current period • IFRIC 17. IAS 40. Transfer of assets to Customers (eﬀective for the accounting periods beginning on or after 1 July 2009). Intangible Assets – Amendments resulting from May 2008 Annual Improvements to IFRSs (e ective annual periods beginning on or after 1 January 2009). • IFRIC 18. Investment Property – amendments resulting from May 2008 Annual Improvements to IFRSs (May 2008) – e ective annual periods beginning on or after 1 January 2009. • IFRS 1. • IFRIC 19. First-time Adoption of International Financial Reporting Standards — Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters (revised January 2010) – e ective for annual periods beginning on or after 1 July 2010. • IFRS 2. Distributions of Non-cash Assets to Owners (eﬀective for accounting periods beginning on or after 1 July 2009). Share-based Payment — amendments resulting from April 2009 Annual Improvements to IFRSs (April 2009) – e ective for annual periods beginning on or after 1 July 2009. Share-based Payment — amendments relating to group cash-settled share-based payment transactions (June 2009) – e ective for annual periods beginning on or after 1 January 2010. Extinguishing Financial Liabilities with Equity Instruments (eﬀective for annual periods beginning on or after 1 July 2010). ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS (Continued) • • IAS 38. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 75 . • IFRS 5. • IFRS 1. • IFRS 2. Business Combinations – Comprehension revision on applying the acquisition method (e ective for accounting periods beginning on or after 1 July 2009).
Presentation of Financial Statements — amendments resulting from April 2009 Annual Improvements to IFRSs (April 2009) – e ective annual periods beginning on or after 1 January 2010. Estimates and underlying assumptions are reviewed on an ongoing basis. Non-current Assets Held for Sale and Discontinued Operations — amendments resulting from April 2009 Annual Improvements to IFRSs (April 2009) – e ective for annual periods beginning on or after 1 January 2010. 3. Financial Instruments: Recognition and Measurement: Amendments for eligible hedged items (e ective for accounting periods beginning on or after 1 July 2009). and • IAS 39. The preparation of nancial statements in conformity with IFRS requires the use of certain critical accounting estimates. • IAS 1. It also requires management to exercise its judgment in the process of applying the Bank’s accounting policies. amendments for embedded derivatives when reclassifying nancial instruments (e ective for annual periods ended on or after 30 June 2009) The directors are currently assessing the impact and expected timing of adoption of these amendments on the Group’s results and nancial position. • IFRS 8. Revisions to accounting estimates are recognised in the year in which the estimate is revised and in any future periods a ected. Basis of preparation The consolidated nancial statements have been prepared under the historical cost convention. PRINCIPAL ACCOUNTING POLICIES Statement of compliance The nancial statements have been prepared in accordance with International Financial Reporting Standards. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS (Continued) • IFRS 5. • IFRS 1. Financial Instruments — Classification and Measurement (November 2009) – e ective annual periods beginning on or after 1 January 2013.2. • IFRS 9. modi ed to include the revaluation of certain non-current assets and nancial instruments. Operating Segments — amendments resulting from April 2009 Annual Improvements to IFRSs (April 2009) – e ective for annual periods beginning on or after 1 January 2010. First-time Adoption of International Financial Reporting Standards — Revised and restructured (revised November 2008) – e ective for annual periods beginning on or after 1 July 2009. 76 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .
Basis of consolidation (a) Subsidiaries The consolidated nancial statements incorporate the nancial statements of the Bank and its subsidiary (CRDB Micro nance Services Company Limited) for the year ended 31 December 2009. Investment in subsidiaries is accounted for at cost in the nancial statements of the Bank. Subsidiaries are consolidated from the date on which e ective control is transferred to the group. Subsidiaries are those companies in which the Bank either directly or indirectly has an interest of more than 50% of the voting rights or otherwise has power to exercise control over the operations of the entities. The cost of an acquisition is measured as the fair value of the assets given. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 77 . PRINCIPAL ACCOUNTING POLICIES (Continued) The areas involving a higher degree of judgment or complexity.3. plus costs directly attributable to the acquisition. or areas where assumptions and estimates are signi cant to the consolidated nancial statements are disclosed in Note 4. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. Intra-company balances and any unrealised income and expenses arising from intra-company transactions are eliminated in preparing the consolidated nancial statements. Consolidated in ceases from the date of disposal or when the Bank e ectively loses control. The excess of the cost of acquisition over the fair value of the Group’s share of the identi able net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired. Identi able assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. irrespective of the extent of any non-controlling interest. the di erence is recognised directly in the pro t or loss for the period. liabilities incurred or assumed at the date of exchange. The principal accounting policies adopted are set out below.
The resultant exchange gains and losses are recognized in the income statement. (b) Transactions and balances Foreign currency transactions are translated into Tanzania shillings using the exchange rates prevailing at the dates of the transactions. deposits and debt securities issued on the date that they are originated. All other nancial assets and liabilities are initially recognized on the trade date at which the Group becomes a party to the contractual provisions of the instrument. Purchases from non-controlling interests result in goodwill. and available-for-sale nancial assets.3. which is the Group’s functional and presentation currency. Financial assets The Group classi es its nancial assets in the following categories: nancial assets at fair value through pro t or loss. held-to-maturity investments. Disposals to non-controlling interests result in gains and losses for the group and are recorded in the pro t or loss for the year. Financial instruments The Group initially recognizes loans and advances. 78 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . PRINCIPAL ACCOUNTING POLICIES (Continued) (b) Transactions with non-controlling interests The Group applies a policy of treating transactions with non-controlling interests as transactions with parties external to the Group. Foreign currency translation (a) Functional and presentation currency Items included in these nancial statements are measured using the currency of the primary economic environment in which the Group operates (‘the functional currency’). The nancial statements are presented in Tanzania shillings (Tshs’000). loans and receivables. being the di erence between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary. i. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to Tanzania shillings using the rate of exchange prevailing at that date. Management determines the classi cation of its investments at initial recognition.
Fair value changes relating to nancial assets designated at fair value through pro t or loss are recognised in ‘Net gains on nancial instruments designated at fair value through pro t or loss’. The Group designates certain nancial assets upon initial recognition as at fair value through pro t or loss (fair value option). According to IAS 39. and those designated at fair value through pro t or loss at inception. and those that the entity upon initial recognition designates as at fair value through Taarifa ya Mwaka [Annual Report 2009 Annual Report] 79 . other than: (a) those that the entity intends to sell immediately or in the short term. The fair value option is applied to investment funds that are part of a portfolio managed on a fair value basis. A nancial asset is classi ed as held for trading if it is acquired or incurred principally for the purpose of selling or repurchasing in the near term or if it is part of a portfolio of identi ed nancial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term pro t-taking. PRINCIPAL ACCOUNTING POLICIES (Continued) (a) Financial assets at fair value though pro t or loss This category has two sub-categories: nancial assets held for trading. and structured instruments that include embedded derivatives. (b) Loans and receivables Loans and receivables are non-derivative nancial assets with xed or determinable payments that are not quoted in an active market. Gains and losses arising from changes in the fair value of derivatives that are managed in conjunction with designated nancial assets or nancial liabilities are included in ‘net income from nancial instruments designated at fair value’. Financial assets for which the fair value option is applied are recognised in the consolidated statement of nancial position as ‘Financial assets designated at fair value’. the fair value option is only applied when the following conditions are met: • the application of the fair value option reduces or eliminates an accounting mismatch that would otherwise arise or • the financial assets are part of a portfolio of financial instruments which is risk managed and reported to senior management on a fair value basis or • the financial assets consists of debt host and an embedded derivatives that must be separated. Derivatives are also categorised as held for trading.3. This designation cannot subsequently be changed. which are classi ed as held for trading.
or (c) nancial assets held to maturity. which are debt securities issued by the Government of Tanzania. or (c) those for which the holder may not recover substantially all of its initial investments. Regular-way purchases and sales of nancial assets at fair value through pro t or loss. held to maturity and available for sale are recognized on trade-date – the date on which the Group commits to purchase or sell the asset. Financial liabilities are derecognized when they are extinguished – that is. when the obligation is discharged. (c) Held-to-maturity nancial assets Held-to-maturity investments are non-derivative nancial assets with xed or determinable payments and xed maturities that the Group’s management has the positive intention and ability to hold to maturity. and transaction costs are expensed through pro t or loss for the year. (b) those that the entity upon initial recognition designates as available for sale. Financial assets are derecognized when the rights to receive cash ows from the nancial assets have expired or where the group has transferred substantially all risks and rewards of ownership. which may be sold in response to needs for liquidity or changes in interest rates. 80 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . PRINCIPAL ACCOUNTING POLICIES (Continued) pro t or loss. If the Group were to sell other than an insigni cant amount of held-to-maturity assets. Treasury bills and bonds are classi ed as held to maturity and are stated at amortised cost. Financial assets are initially recognized at fair value plus transaction costs for all nancial assets not carried at fair value through pro t or loss. the entire category would be reclassi ed as available for sale. Available-for-sale nancial assets and nancial assets at fair value through pro t or loss are subsequently carried at fair value. Government securities comprise treasury bills and treasury bonds. cancelled or expires. exchange rates or equity prices. Available-for-sale investments are intended to be held for an inde nite period of time. other than because of credit deterioration. Financial assets carried at fair value through pro t and loss are initially recognized at fair value.3. (b) loans and receivables. Loans and receivables and held-to-maturity investments are carried at amortized cost using the e ective interest method. (d) Available-for-sale nancial assets Available-for-sale assets are nancial assets that are not (a) nancial assets at fair value through pro t or loss.
A nancial asset or a group of nancial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on the estimated future cash ows of the nancial asset or group of nancial assets that can be reliably estimated. equity ratio. and • Deterioration in the value of collateral. until the nancial asset is derecognized or impaired. The criteria that the Group uses to determine that there is objective evidence of an impairment loss include: • Delinquency in contractual payments of principal or interest. PRINCIPAL ACCOUNTING POLICIES (Continued) Gains and losses arising from changes in the fair value of the ‘ nancial assets at fair value through pro t or loss’ category are included in the pro t or loss in the period in as they arise. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 81 . The fair values of quoted investments in active markets are based on current bid prices. At this time. However. • Deterioration of the borrower’s competitive position. the Group establishes fair value using valuation techniques. • Breach of loan covenants or conditions. discounted cash ow analysis. If there is no active market for a nancial asset. These include the use of recent arm’s length transactions. • Cash flow diﬃculties experienced by the borrower (for example.3. Dividends on available-for-sale equity instruments are recognized in the pro t or loss for the year when the entity’s right to receive payment is established. net income percentage of sales). Gains and losses arising from changes in the fair value of available-for-sale nancial assets are recognized directly in equity. and other valuation techniques commonly used by market participants. interest calculated using the e ective interest method and foreign currency gains and losses on monetary assets classi ed as available for sale are recognized in the pro t or loss for the year. Impairment of nancial assets (a) Assets carried at amortised cost The Group assesses at the end of each reporting period whether there is objective evidence that a nancial asset or group of nancial assets is impaired. • Initiation of bankruptcy proceedings. the cumulative gain or loss previously recognized through other comprehensive income is reclassi ed to pro t or loss for the year.
the discount rate for measuring any impairment loss is the current e ective interest rate determined under the contract. If a loan or held-to-maturity investment has a variable interest rate.e. the periods used vary between three months and 12 months. and individually or collectively for nancial assets that are not individually signi cant. In general. If the Group determines that no objective evidence of impairment exists for an individually assessed nancial asset. The Group rst assesses whether objective evidence of impairment exists individually for nancial assets that are individually signi cant. The amount of the loss is measured as the di erence between the asset’s carrying amount and the present value of estimated future cash ows (excluding future credit losses that have not been incurred) discounted at the nancial asset’s original e ective interest rate. The carrying amount of the asset is reduced through the use of an allowance account and the amount of the loss is recognized in the income statement. For the purposes of a collective evaluation of impairment. whether or not foreclosure is probable. industry. The calculation of the present value of the estimated future cash ows of a collateralized nancial asset re ects the cash ows that may result from foreclosure less costs for obtaining and selling the collateral.3.Those characteristics are relevant to the estimation of future cash ows for groups of such assets by being indicative of the customer’s ability to pay all amounts due according to the contractual terms of the assets being evaluated. Assets that are individually assessed for impairment and for which an impairment loss is or continues to be recognised are not included in a collective assessment of impairment. whether signi cant or not. nancial assets are grouped on the basis of similar credit risk characteristics (i. collateral type. longer periods are warranted. it includes the asset in a group of nancial assets with similar credit risk characteristics and collectively assesses them for impairment. in exceptional cases. 82 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . geographical location. on the basis of the Group’s grading process that considers asset type. the Group may measure impairment on the basis of an instrument’s fair value using an observable market price. PRINCIPAL ACCOUNTING POLICIES (Continued) The estimated period between a loss occurring and its identi cation is determined by management for each identi ed portfolio. As a practical expedient. past-due status and other relevant factors).
If. PRINCIPAL ACCOUNTING POLICIES (Continued) Future cash ows in a group of nancial assets that are collectively evaluated for impairment are estimated on the basis of the contractual cash ows of the assets in the group and historical loss experience for assets with credit risk characteristics similar to those in the group. less any impairment loss on that nancial asset previously recognized in pro t or loss is removed from equity and reclassi ed to pro t or loss for the year. the previously recognised impairment loss is reversed by adjusting the allowance account. property prices. Estimates of changes in future cash ows for groups of assets should re ect and be directionally consistent with changes in related observable data from period to period (for example. or other factors indicative of changes in the probability of losses in the group and their magnitude). (b) Assets classi ed as available for sale In the case of equity investments classi ed as available for sale. The amount of the reversal is recognised in the pro t or loss in impairment charge for credit losses. the fair value of a debt instrument classi ed as available for sale increases and the increase can be Taarifa ya Mwaka [Annual Report 2009 Annual Report] 83 . Impairment losses recognized in the pro t of loss for the year on equity instruments are not reversed through the income statement. If any such evidence exists for available-for-sale nancial assets. it is written o against the related provision for loan impairment.3. If. Historical loss experience is adjusted on the basis of current observable data to re ect the e ects of current conditions that did not a ect the period on which the historical loss experience is based and to remove the e ects of conditions in the historical period that do not currently exist. a signi cant or prolonged decline in the fair value of the security below its cost is considered in determining whether the assets are impaired. changes in unemployment rates. payment status. Such loans are written o after all the necessary procedures have been completed and the amount of loss has been determined. in a subsequent period. in a subsequent period. the cumulative loss measured as the di erence between the acquisition cost and the current fair value. the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized (such as an improvement in the customer’s credit rating). The methodology and assumptions used for estimating future cash ows are reviewed regularly by the Group to reduce any di erences between loss estimates and actual loss experience. When a loan is uncollectible.
PRINCIPAL ACCOUNTING POLICIES (Continued) objectively related to an event occurring after the impairment loss was recognized in pro t or loss. ii. Contingent Liabilities and Contingent Assets. (b) Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. The e ective interest rate is the rate that exactly 84 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . with interest expense recognized on e ective yield basis. Other liabilities. In subsequent years. cumulative amortisation recognised in accordance with the revenue recognition policies. (c) Renegotiated loans Loans that are either subject to collective impairment assessment or individually signi cant and whose terms have been renegotiated are no longer considered to be past due but are treated as new loans. Financial liabilities and equity instruments (a) Classi cation as debt or equity Debt and equity instruments are classi ed as either nancial liabilities or as equity in accordance with the substance of the contractual arrangement. net of direct issue costs. (c) Financial guarantee contracts liabilities Financial guarantee contract liabilities are measured initially at their fair values and are subsequently measured at the higher of the amount of the obligation under the contract. and the amount initially recognised less. where appropriate. Financial liabilities Financial liabilities are classi ed as either nancial liabilities ‘at fair value through pro t and loss’ or ‘other nancial liabilities’. the impairment loss is reversed through the pro t or loss for the year. borrowing and deposits are initially measured at fair value net of transaction costs and subsequently measured at amortized cost using the e ective interest method. as determined in accordance with IAS 37 Provisions. The e ective interest method is a method of calculating the amortized cost of a nancial asset or a nancial liability and of allocating the interest income or interest expense over the relevant period.3. Equity instruments issued by the Group are recorded at the proceeds received. the asset is considered to be past due and disclosed only if renegotiated.
transaction costs and all other premiums or discounts. Interest income and expense Interest income and expense for all interest bearing nancial instruments are recognized in the pro t or loss for the year on accrual basis using the e ective interest method. where appropriate. The calculation of the e ective interest rate includes all fees and points paid or received transaction costs. O setting nancial instruments Financial assets and liabilities are o set and the net amount reported in the statement of nancial position when there is a legally enforceable right to o set the recognized amounts and there is an intention to settle on a net basis.3. When calculating the e ective interest rate. Fee and commission income Fees and commissions are generally recognized on an accrual basis when the service has been provided. and discounts or premiums that are an integral part of the e ective interest rate. prepayment options) but does not consider future credit losses. the Group estimates cash ows considering all contractual terms of the nancial instrument (for example. Transaction costs are incremental costs that are directly attributable to the acquisition. The e ective interest rate is the rate that exactly discounts the estimated future cash payments and receipts through the expected life of the nancial instruments (or. a shorter period to the net carrying amount of the nancial asset or nancial liability. when appropriate. interest income is recognized using the rate of interest that was used to discount the future cash ows for purposes of measuring the allowance for impairment. Loan syndication fees are recognized as revenue when Taarifa ya Mwaka [Annual Report 2009 Annual Report] 85 . Once a nancial asset or a group of similar nancial assets has been written down as a result of an impairment loss. PRINCIPAL ACCOUNTING POLICIES (Continued) discounts estimated future cash payments or receipts through the expected life of the nancial instrument or. The e ective interest rate is established on initial recognition of the nancial asset and liability and is not revised subsequently. issue or disposal of a nancial asset or liability. a shorter period) to the carrying amount of the nancial instruments. Loan commitment fees for loans that are likely to be drawn down are deferred (together with related direct costs) and recognized as an adjustment to the e ective interest rate on the loan. The calculation includes all fees and points paid or received between parties to the contract that are an integral part of the e ective interest rate. or realize the asset and settle the liability simultaneously.
Securities lent to counterparties are also retained in the consolidated nancial statements. as appropriate. Current taxation is provided on the basis of the results for the year. Commission and fees arising from negotiating or participating in the negotiation of. a transaction for a third party are recognized on completion of the underlying transaction. Income tax Income tax expense represents the sum of the current taxation and the deferred taxation. PRINCIPAL ACCOUNTING POLICIES (Continued) the syndication has been completed and the Group has retained no part of the loan package for itself or has retained a part at the same e ective interest rate as the other participants. A deferred tax asset is recognized to the extent that it is probable that future taxable pro ts will be available against which the unused tax credits can be utilized. as appropriate. for all temporary di erences arising between the tax bases of assets and liabilities and their carrying amounts in the nancial statements. Dividend income Dividends are recognized in the pro t or loss for the year when the entity’s right to receive payment is established. Deferred tax assets are reviewed at the end of each reporting period and are reduced to the extent that it is no longer probable that the related tax bene t will be realized. Sale and repurchase agreements Securities sold subject to repurchase agreements (‘repos’) are reclassi ed in the consolidated nancial statements as pledged assets when the transferee has the right by contract or custom to sell or repledge the collateral. the counterparty liability is included in amounts due to other Banks. adjusted in accordance with tax legislation. 86 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . using the liability method. other deposits or deposits due to customers. The di erence between sale and repurchase price is treated as interest and accrued over the life of the agreements using the e ective interest method.3. deposits from Banks. Deferred tax is provided. Currently enacted tax rates are used to determine deferred tax. Securities purchased under agreements to resell (‘reverse repos’) are recorded as loans and advances to other Banks or customers. as shown in the nancial statements.
All property and equipment is stated at historical cost less depreciation. This change in policy has been adopted prospectively in line with IAS 16 requirements Land and buildings comprise mainly branches and o ces. as appropriate. only when it is probable that future economic bene ts associated with the item will ow to the Group and the cost of the item can be measured reliably. motor vehicles are stated in the statement of nancial position at revalued amounts. held in revaluation reserve relating to a previous revaluation of that asset. in which case the increase is credited to pro t or loss to the extent of the decrease previously expensed. except to the extent that it reverses a revaluation decrease for the same asset previously recognized in the pro t or loss. as follows: Bank buildings Computer equipment Motor vehicles O ce equipment Furniture and ttings Smart card equipments Mobile branch 20 yrs 5 yrs 4 yrs 5 yrs 5 yrs 8 yrs 4 yrs Taarifa ya Mwaka [Annual Report 2009 Annual Report] 87 . A decrease in the carrying amount arising on the revaluation of such motor vehicles is recognized in the pro t or loss to the exceeds the balance. Any revaluation increase arising on the revaluation of such motor vehicles is recognized in other comprehensive income. being the fair value at the date or revaluation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. PRINCIPAL ACCOUNTING POLICIES (Continued) Property and equipment Following the change in accounting policy by the Group. Subsequent costs are included in the asset’s carrying amount or are recognized as a separate asset. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The valuation was determined with reference to the market value of the motor vehicles. Depreciation of other assets is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives.3. All other repairs and maintenance are charged to pro t or loss for the year operating expenses during the nancial period in which they are incurred. if any.
Impairment of tangible and intangible assets At the end of each reporting period. and value in use. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Where software is not an integral part of the related hardware it is recognised as an intangible asset. at the end of each reporting period. the Group reviews the carrying amount of its tangible and intangible assets to determine whether there is any indication that these assets have su ered an impairment loss. from the date that it is available for use. If objective evidence on impairment losses exists. Amortization is recognized in pro t or loss on a straight-line basis over the estimated useful life of the software. 88 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . the Group is cognisant of the estimated future cash ow discounted to the present value using a pre-tax discount rate that is re ective of the current market assessment of time value of money and the risks speci c to the asset itself. In estimating value in use. The estimate useful life of software is three to ve years. but extend the period to complete the sale beyond one year are to be revalued and surplus is recognized through other comprehensive income and accumulate in revaluation surplus reserve in the statement of changes in equity. Intangible assets Acquired computer software and related licenses are stated at cost less accumulated amortization. Revaluation reserve Assets classi ed as held for sale. Gains and losses on disposals are determined by comparing proceeds with carrying amount. The carrying amount of the asset is reduced through the use of an allowance account and the amount of the loss is recognised in the pro t or loss. Subsequent expenditure on software assets is capitalized only when it increases the future economic bene ts embodied in the speci c asset to which it relates.3. In determining the recoverable amount. the Group considers the higher of the fair value of the asset less costs to sell. and adjusted if appropriate. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. The recoverable amount is the higher of the asset’s fair value less costs to sell and value in use. These are dealt with through pro t or loss for the year. All other expenditure is expensed as incurred. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. PRINCIPAL ACCOUNTING POLICIES (Continued) The assets’ residual values and useful lives are reviewed.
together with adjustments for unrecognised actuarial gains or losses and past service costs. The scheme is generally funded through contributions by the Group. Retirement bene ts obligations The Group’s contributions in respect of retirement bene t costs are charged to the pro t or loss in the year to which they relate. Any such amounts set aside represent appropriations of retained earnings and not expenses in determining pro t or loss for the year. Bank of Tanzania prudential guidelines require the Bank to set aside amounts for impairment losses on loans and advances in addition to those losses that have been recognised under IAS 39. The Group’s obligations under the schemes are limited to speci c contributions legislated from time to time and are charged to the pro t or loss for the year. Actuarial valuation is conducted periodically and any gains or losses are dealt with through pro t or loss. Where impairment loss subsequently reverses. These amounts are dealt with in the statutory reserve. The Group makes contributions to National Social Security Fund and Parastatal Pension Fund. but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized. and when there is indication that the asset may be impaired.3. The de ned bene t obligation is calculated annually by independent actuaries using the projected unit credit method. the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount. The present value of the de ned bene t obligation is determined by discounting the estimated future cash out ows using reasonable interest rates. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 89 . However. PRINCIPAL ACCOUNTING POLICIES (Continued) Intangible assets with inde nite useful life and intangible assets not yet available for use are tested for impairment annually. Statutory reserve IAS 39 requires the Group to recognise an impairment loss when there is objective evidence that loans and receivables are impaired. statutory de ned contribution pension schemes. This plan entitles all employees leaving the employment of the Group after working with it for at least ten years to certain bene ts which are based on pre-determined formulae. The liability recognised in the consolidated statement of nancial position in respect of the de ned bene t incentive plan is the present value of the de ned bene t obligation at the end of the reporting period less the fair value of plan assets. The Group operates a de ned bene t incentive scheme through an entity speci cally established to manage the Fund namely CRDB Bank Group Endowment Scheme Trust.
PRINCIPAL ACCOUNTING POLICIES (Continued) The amounts recognised in pro t or loss for the year is as shown on Note 40. cash and cash equivalents comprise cash. 90 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Payment of dividends is subjected to withholding tax at the rate of 5% and are presented in the notes to the nancial statements. Amortization of refurbishment costs Leased premises refurbishment represents costs incurred by the Group in refurbishment of leased bank premises. Diluted EPS is determined by adjusting the pro t or loss attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding for the e ects of all dilutive potential ordinary shares. Dividends Dividends are charged to equity in the period in which they are declared. Basic EPS is calculated by dividing the pro t or loss attributable to ordinary shareholders of the Bank by the weighted average number of ordinary shares outstanding during the year. Grants towards improvement of Group’s processes are recognized to pro t or loss over the periods necessary to match them with the related costs. The rate of amortization was changed during the year from three to ve years from the year the costs are incurred. less advances from other bank’s repayable within three months from the date of the advance. Proposed dividends are not accrued until rati ed at the Annual General Meeting. Earnings per share The Group presents basic and diluted earnings per share (EPS) in the consolidated nancial statements. balances with Bank of Tanzania (excluding the Statutory Minimum Reserve) and balances with other bank’s with maturity of less than three months. Grants Grants related to assets are treated as deferred income and released to the pro t or loss over the expected useful lives of the assets concerned. short term liquid investments which are readily convertible into known amounts of cash and which are within three months maturity from the date of acquisition. Cash and cash equivalents For the purpose of statement of cash ow. Leasehold land Payments to acquire leasehold interest in land are treated as prepaid operating lease rentals and amortized on a straight line basis over the period of the lease.3.
Comparatives Where necessary. Management uses estimates based on historical loss experience for assets with credit risk characteristics and objective evidence of impairment similar to those in the portfolio when scheduling its future cash ows. acceptances and guarantees are generally written by the group to support performance of the customer to third parties. CRITICAL ACCOUNTING ESTIMATES AND KEY SOURCES OF UNCERTAINITIES The group makes estimates and assumptions that a ect the reported amounts of assets and liabilities within the next nancial year. In determining whether an impairment loss should be recorded in the pro t or loss. before a decrease can be identi ed with an individual loan in that portfolio. the group makes judgments as to whether there is any observable data indicating that there is a measurable decrease in the estimated future cash ows from a portfolio of loans. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 91 . 4.3. comparative gures have been adjusted to conform with changes in presentation in the current year. The methodology and assumptions used for estimating both the amount and timing of future cash ows are reviewed regularly to reduce any di erences between loss estimates and actual loss experience. PRINCIPAL ACCOUNTING POLICIES (Continued) Provisions for liabilities and charges Entitlements to annual leave are recognized when they accrue to employees. Estimates and judgments are continually evaluated and based on historical experience and other factors. The group will only be required to meet these obligations in the event of the customer’s default. Impairment losses on loan and advances The group reviews its loan portfolios to assess impairment regularly. or national or local economic conditions that correlate with defaults on assets in the Group. Contingent liabilities Letters of credits. including expectations of future events that are believed to be reasonable under the circumstances. This evidence may include observable data indicating that there has been an adverse change in the payment status of borrowers in a group. These obligations are accounted for as o balance sheet transactions and disclosed as contingent liabilities. Provision is made for the estimated liability in respect of annual leave accrued at the end of the reporting period end.
and the operational risks are an inevitable consequence of being in business. The Group’s risk management policies are designed to identify and analyse these risks. products and emerging best practice.4. Taking risk is core to the nancial business. and emerging best practice. controlling and mitigation of the Group’s risks. Risk management policies and systems are reviewed regularly to re ect changes in market conditions. to set appropriate risk limits and controls. The investments would therefore be measured at fair value not amortized cost. plant and equipment as well as their residual values. monitoring. evaluation. acceptance and management of some degree of risk or combination of risks. products and services o ered. the Board of Directors has embedded a comprehensive risk management framework for measuring. This classi cation requires signi cant judgment. CRITICAL ACCOUNTING ESTIMATES AND KEY SOURCES OF UNCERTAINITIES (Continued) Held to maturity investments The group follows the guidance of IAS 39 in classifying non-derivative nancial assets with xed or determinable payments and xed maturity as held-to-maturity. The group regularly reviews its risk management policies and systems to re ect changes in markets. The policies are integrated in the overall management information systems of the group and supplemented by a management reporting structure. The Group. plant and equipment Critical estimates are made by the Directors in determining the useful lives of property. 92 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . 5. aims to develop a disciplined and constructive control environment. If the group fails to keep these investments to maturity other than for the speci c circumstances – for example. As part of it’s governance structure. in which all employees / stakeholders understand their roles and obligations. through its training and management standards and procedures. Property. The Group’s aim is therefore to achieve an appropriate balance between risk and return and minimise potential adverse e ects on the Group’s nancial performance. and to monitor the risks and adherence to limits by means of reliable and up-to-date information systems. selling an insigni cant amount close to maturity – it will be required to reclassify the entire class as available for sale. The Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. In making this judgment. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The Group’s activities expose it to a variety of nancial risks and those activities involve the analysis. the group evaluates its intention and ability to hold such investment to maturity.
The most important type of risks are: • Credit risk • Liquidity risk • Market risk . risk grading and reporting. • Limiting concentrations of exposure to counterparties and industries (for loans and advances). and Audit Committee are responsible for monitoring compliance with the Group’s risk management policies and procedures.Foreign exchange risk The notes below provide detailed information on each of the above risks and the Group’s objectives. including: • Formulating credit policies. trade nance and treasury activities. and the Group’s management of capital. Credit risk Credit risk refers to the risk that a counter party will default on its contractual obligations resulting in nancial loss to the group. and compliance with regulatory and statutory requirements. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 93 . collateral requirements. estimated by the Group’s management based on prior experience and their assessment of the current economic environment. and review of the adequacy of risk management framework in relation to the risks faced by the group. i. The amounts presented in the statements of nancial position are net of impairment for doubtful debts. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) The Board’s Credit Committee. Governance and Risk Management Committee. • Reviewing and assessing credit risk on all exposures in excess of approval limits of the management prior to facilities being committed to customers. • Establishing the authorization structure for the approval of credit facilities.Interest rate risk . Management of credit risk The Board of Directors has delegated responsibility for the management of credit risk to its Credit Committee which is responsible for oversight of the Group’s credit risk. credit appraisal. covering risk acceptances criteria in target market. It arises principally from lending. documentary and legal procedures. These committees are assisted in these functions by various management committees which undertake both regular and ad-hoc reviews of risk management controls and procedures. the results of which are reported to the Board.5. policies and processes for measuring and managing risk.
790. Day to day management of the group’s credit risk is vested to Director of Credit who reports to the Managing Director. The current risk grading framework consists of several grades re ecting varying degrees of risk of default and other credit risk mitigation. ii.195.419. Regular audits of the credit processes and management are undertaken by Internal Audit. Maximum exposure to credit risk before collateral held 2009 Tshs’000 Credit Exposures On – statement of nancial position Deposits and balances due from Grouping institutions Government securities – held to maturity Loans and advances to customers Items in the course of collection from other banks O -statement of nancial position Letters of credit Guarantees 104. including those for selected industries and product types.391.302 4 1 5 42.631.068 1.232.886 20.911. • Reviewing reports on compliance with agreed exposure limits.563 100 The above represents the worst case scenario of credit exposure for both years. without taking account of any collateral held or other credit enhancements attached.461 16.441.605.650 848.834 16 62 1 95 205. Management of credit risk (Continued) • Developing and maintaining the group’s risk grading system in order to categorise exposures according to the degree of risk of nancial loss faced and to focus management on the attendant risks.360 16 66 3 95 252.455.177.957 22.690 10 % 2008 Tshs’000 % 1.519.295. 94 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .619.719.5.609.345 127.136 100 1.317 62.686.504.952 38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Credit risk (Continued) i.567.701.976.203 3 2 5 252. The responsibility for setting risk grades lies with the Committee and risk grades are subject to regular reviews by the Board.173.645 1. The risk grading system is used in determining where impairment provisions may be required against speci c credit exposures.601 982.127 16 140.
220 Apart from the loans and advances to customers. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 95 .362.803.981) 949.833.90 days) past due. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Credit Risk (Continued iii.173. all other credit exposures are neither past due nor impaired.846.5.988 60. These accounts under BOT guidelines are termed as non-performing loans. where losses have been incurred but have not been identi ed.108 848. Allowances for impairment The Group establishes an allowance for impairment losses that represents its estimate of incurred losses in its loan portfolio. (c) Impaired loans and advances Impaired loans are loans for which the Group determines that it is probable that it will be unable to collect all principal and interest due according to the contractual terms of the loan agreement(s). Classi cation of loans and advances 2009 Neither past due nor impaired Past due but not impaired Impaired Gross Less: allowance for impairment Interest in suspense 861. These exposures will normally be maintained largely within approved product programs and with no signs of impairment or distress. risk factors and capacity to repay that are acceptable.425 21.461 (26.886.611. iv. Such loans would have demonstrated nancial conditions.195.036 2008 788. (b) Past due but not impaired This category includes exposures that are over 30 days (31 . These exposures are categorized as normal accounts in line with the Bank of Tanzania (BOT) regulations. These allowances are a speci c loss component that relates to individual exposures and a collective loan loss allowance established for Groups of homogeneous assets in respect of losses that have been incurred but have not been identi ed on loans subject to individual assessment for impairment.296) 836.947.436) (1.074.419 37.952 (9.883 982. (a) Loans and advances that are neither past due nor impaired The Group classi es loans and advances under this category for those exposures that are up to date and in line with contractual agreements.821.486.559.444) (5.505.590 60.
This determination is reached after considering information such as the occurrence of signi cant changes in the borrower or issuer’s nancial position such that the borrower or issuer can no longer pay the obligation.5. securities or other assets as contractually agreed. vi. registered securities over assets. or that proceeds from sale of collateral will not be su cient to pay back the entire exposure and after exhausting all other means including litigation. For smaller balance standardized loans. Collateral generally is not held over deposits and balance due from banks and items in the course of collection from other banks. Estimates of fair value are based on the value of collateral assessed at the time of borrowing. Concentrations of risk The Group monitors concentration of risk by economic sector in line with set limits per sector. charge o decisions are generally based on a product speci c past due status. and o balance sheet items are provided in note 45. For certain types of transactions the group mitigates this risk by pre-arranging facilities with the customer. and refreshed after every three years. mortgage interests over property. vii. and guarantees. Collateral held The Group holds collateral against loans and advances to customers in the form of deposit under lien. Settlement risk The Group’s activities may give rise to risk at the time of settlement of transactions and trades. when the Board’s Credit Committee determines that the loans and advances are uncollectible and securities unrealizable. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Write-o policy The Group writes o loans and advances net of any related allowances for impairment losses. Security structures and legal covenants are also subjected to regular review to ensure they continue to ful ll their intended purpose. An analysis of concentrations within the loan and advances to customers. Settlement limits form part of the credit approval/limit monitoring process. 96 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . except when securities are held as part of reverse repurchase and securities borrowing activity. Settlement risk is the risk of loss due to the failure of counter-party to honor its obligations to deliver cash. viii .
and that the group will not encounter di culty in meeting obligations from its nancial liabilities as they occur. a management committee is tasked with the responsibility of ensuring that all foreseeable funding commitments and deposits withdrawals can be met when due. The group borrows from the interbank market through transactions with other Banks for short term liquidity requirements. • Investment in short term liquid instruments. These plans must identify early indicators of stress conditions and describe actions to be taken in the event of di culties arising from systemic or other crises while minimizing adverse long-term implications. without incurring unacceptable losses or risking damage to the group’s reputation. • Monitoring depositor concentration in order to avoid undue reliance on large individual depositors and ensure a satisfactory funding mix. ii. • Projecting cash flows by major currency and considering the level of liquid assets necessary in relation thereto. • Maintaining liquidity contingency plans. which can easily be sold in the market when the need arises. i. Liquidity and funding management The Group’s liquidity and funding policies require the following: • The Group enters into lending contracts subject to availability of funds. savings and time deposits. • Investments in property and equipment are properly budgeted and subjected to prudential limits to minimize the Group’s exposure. ALCO relies substantially on the group’s Treasury Department to coordinate and ensure discipline across the group.5. Assets and Liabilities Committee (ALCO). FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Liquidity risk Liquidity risk is the risk that the Group will encounter di culty in meeting obligations from nancial liabilities. To this end. Source of funding The Group major source of funding is from customer deposits. • Monitoring balance sheet liquidity ratios against internal and regulatory requirements. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 97 . • Maintaining an array of diverse range of funding sources with back –up facilities. the group maintains a diversi ed and stable funding base comprising current/demand. certify su cient liquidity under both normal and stressed conditions.
In addition to maintaining an appropriate mix between fixed and floating rates deposit base. Exposure to liquidity risk The key measure used by the Group for managing liquidity risk is the ratio of liquid assets to demand liabilities. interest rates on advances to customers are either pegged to the Bank’s base lending rate or Treasury bill rate. i. liabilities and o –balance sheet items with maturity period of less than one year. The Group has a limit of loan to total deposit of 70% and liquidity trigger of 20% of top 10 deposits to total deposits and 50% of core deposit to total deposits. Overall responsibility for management of market risk rests with ALCO.5. Market Risk Management Policies are in place to guide management of this risk and are subject to review and approval by the Board annually. Market risk has been subdivided into interest rate risk and foreign exchange risk. Interest rate risk The Group is exposed to the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. Market risk is the risk that movement in market factors. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) iii. For this purpose liquid asset considered are cash and interbank deposits. clearing and Statutory Minimum Reserve (SMR) deposits. The Bank of Tanzania (BoT) requires that the Group maintains an SMR ratio of 10% of customers’ total deposits and borrowings from the general public in form of 50% of vault cash and SMR account held at BOT on daily basis. Market risk The objective of market risk management process is to manage and control market risk exposures in order to optimise return on investments while maintaining a market pro le as a provider of financial products and services. including interest rates and foreign currency exchange rates. The base rate is adjusted from time to time to reflect the cost of deposits. The maturities of asset and liabilities and the ability to replace at an acceptable cost as they mature are important factors in assessing the group’s exposure to changes in interest rates. 98 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . The Group’s maturing liabilities comprises all deposits. will reduce income or value of portfolio. investment in securities maturing within one year. The Group’s exposure to liquidity risk at the end of the reporting period is summarized in note 47.
As at 31 December 2009 stress test on interest rate risk indicated an exposure of Tshs 4. The Group’s exposure to foreign currency exchange rate risk at the end of the reporting period is summarized in note 49. The Board of Directors through Governance and Risk Management Committee sets limits on the level of exposure by currency and in total for both overnight and intra-day positions. The Group also participated in the capital market by buying /selling shares for trading purposes. The Group has embarked on preparation for implementation of appropriate systems for measurement of market risk using more sophisticated models such as Value at Risk. are: Taarifa ya Mwaka [Annual Report 2009 Annual Report] 99 . which is a broader concept than the ‘equity’ on the face of statements of nancial position. the Group had no exposure to equity investments and therefore no stress test was carried out. The Group participates in the foreign currency market as a market maker and a market user. CAPITAL MANAGEMENT The Group’s objectives when managing capital. The Group’s exposure to interest rate risk at end of the reporting period is summarized in note 48. Foreign exchange risk The Group is exposed to the risk on earnings and capital arising from adverse movement of foreign exchange rates.5 billion which is 4% of the Bank’s Core Capital while stress test on foreign exchange risk indicated an exposure of Tshs 813 million which is 0. stress test results indicate that shocks will not lead to capital impairment. The Group carries out tests to determine exposure to market risk. The Group has set a trigger on earnings at risk to net interest income at di erent maturity bands based on assumptions developed from the past deposit trends and monitoring is done on monthly basis by ALCO. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) Interest rates on customer deposits are negotiated between the bank and the customer with the bank retaining the discretion to adjust the rates in line with changes in market trends. The interest rates.5. However at the end of the year 2009.7% of the Bank’s core Capital. ii. Treasury department is responsible for management of foreign exchange risk including trading within limits and monitoring the exchange rates. therefore. Generally. fluctuate depending on the movement in the market interest rates. The group also invests in treasury bills and bonds.
Capital adequacy and regulatory capital are monitored daily by the Group’s management employing techniques based on the guidelines developed by the Basel Committee as implemented by the Bank of Tanzania for supervisory purposes. and To maintain a strong capital base to support the development of the group’s business. The Bank’s regulatory capital falls into two tiers: (a) (b) Tier 1 capital: Share capital. The composition and the ratios of the Bank’s regulatory capital and the details of the risk weighted assets for the year ended 31st December 2009 are summarized in note 41. market and other risks associated with each asset and counterparty. taking into account any eligible collateral or guarantees.5. (b) Every bank shall at all times maintain core capital of not less than 10% of its total risk-weighted assets and o balance sheet exposure. During the years ended 31st December 2008 and 31st December 2009. the regulator of the banking sector in Tanzania. Tier 2 capital: Qualifying subordinated loan capital The risk-weighted assets are measured by means of a hierarchy of four risk weights classified according to the nature of assets and reflecting an estimate of credit. and (c) Every bank shall at all times maintain total capital of not less than 12% of its total risk weighted assets and o balance sheet exposure. The required information is led with the Bank of Tanzania on a monthly basis. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) • To comply with the capital requirements as set out under the Banking and Financial Institutions Act. 2006 which is monitored by the Bank of Tanzania. A similar treatment is adopted for o -balance sheet exposure. 100 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . retained earnings and reserves created by appropriations of retained earnings. • • To safeguard the Group’s ability to continue as a going concern so that it can continue to provide returns to shareholders and bene ts to other stakeholders. with some adjustments to reflect the more contingent nature of the potential losses. the Bank complied with all capital requirements to which they were supposed to. The Act requires that: (a) Every bank shall commence operations with and maintain at all times a minimum of core capital of not less than ve billion Tanzania shillings or such higher amount as the Group may prescribe by order published in the Gazette.
For management purposes. The increase in risk weighted assets reflects the expansion of business in general. Reportable operating The following business segments represent the group’s organization structure as reflected in the internal management reporting system. currency exchange. SEGMENTAL REPORTING The following segment information has been prepared in accordance with the “management approach” which requires presentation of segments on the basis of the internal reports about components of the entity which are regularly reviewed by the Chief Operating Decision – Maker in order to allocate resources to a segment in order to assess its performance. b) c) Taarifa ya Mwaka [Annual Report 2009 Annual Report] 101 . Retail banking Includes services and products to individuals including deposits and lending. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued) The increase of the regulatory capital in the year of 2009 is mainly due to the contribution of the current-year profit. This segment also includes all other cost centers and pro t centers in the head o ce in areas of technology services and support. letters of credit letters of guarantee.5. lending and other products and dealing with nancial institutions. 6. investment management services and asset management activities related to dealing managing and custody of securities. Treasury Includes treasury services. the Group is divided into the following three segments: a) Corporate banking Includes services and products to corporate and high net worth individuals including deposits.
196.809.243.636 69.096.079 2.430 (239.326) 13.351) 23.6.081 13.854.409.936 (45.809.330.929.240.921.393.939) (821.725.296.204.262 165.971 15.335 47.667) (83.393.034 52.778.898 (641.116 21.208.204 77.855 1.445.530) (14.541) (1.454 (174.938 669.113.488) 109.110.005) 1.820.412.686) 7.647.803 8.002) 39.771.967.372.990.141.886 24.494.931 (21.375.081 3.057 70.535 Retail Banking & MFSC Tshs ‘000 Treasury Tshs ‘000 Total Tshs ‘000 102 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .577.829.850) (19.625.027) (3.921.651) 15.517.824.272) 7.713.178 145.867.810.177) 13.092.191.632) (1.524.854.791.787 (229.866 61.644.884 (414.654) 61.901.435.062) (14.623 (23.096) (307.902.338) (1.989.746.938 39.676.420.613.644.062) 26.332) (40.841.383.045 (1.218 661. SEGMENTAL REPORTING (Continued) The following table represents income and pro t and loss and certain assets and liability information regarding the Bank’s reportable segments for the year ended 31st December 2009: Corporate Banking Tshs ‘000 External operating income Interest income Interest expenses Internal net interest income/(expenses) Net interest income Fees and commission income Fees and commission expenses Net fees and commission income Net foreign exchange income Other operating income Total operating income General and administration expenses Staﬀ costs Impairment losses Net operating income Results Segment results Profit before income tax Income tax expenses Pro t for the year Assets and Liability Segment assets Unallocated assets Total assets Segment liabilities Unallocated liabilities Total liabilities 963.143 43.466.882 15.659.750 1.592) 21.960 (21.899) 45.431.941) (19.425 (35.732.415) (17.953 444.015 (11.535 (16.900.284.964 17.021 28.
966.066.308.200 13.402) 11.371.654) 11.004.310 4.529 10.534.260.321 135.085.494 50.094.883) (17.609 40.996) 30.641) (3.457 931.750) 22.230.878.3184.108.40.2061 (15.336.423.752.793 60.611) (78.6.669 (10.868 (19.144.601 1.545 (195.203) (279.864) (4.317.800.786 19.040.240.981 (10.419 (557.901 34.793 39.145) 13.303 30.233.196 (540.009 (20.670 1.018) (534.004.388 11.576.737.406) (14.743 (9.265.201.519 (1.765.462.037 31.167 14.257.651 (345.195.342) 18.428) 1.202.508.161 3.129 3.189) 25.733.129.798.706) Retail Banking & MFSC Tshs ‘000 Treasury Tshs ‘000 Total Tshs ‘000 Taarifa ya Mwaka [Annual Report 2009 Annual Report] 103 .351.164.756 1.938.446.695.276.495.356.897.908 (36.284 (503.828.716.677) (34.679.586 (20.085) 60. SEGMENTAL REPORTING (Continued) The following table represents income and pro t and loss and certain assets and liability information regarding the Group’s business segments for the year ended 31st December 2008: Corporate Banking Tshs ‘000 External operating income Interest income Interest expenses Internal net interest income/(expenses) Net interest income Fees and commission income Fees and commission expenses Net fees and commission income Net foreign exchange income Other operating income Total Operating income General and administration expenses Staﬀ costs Impairment losses Net operating income Results Segment results Profit before income tax Income tax expenses Pro t for the year Assets and Liability Segment assets Unallocated assets Total assets Segment liabilities Unallocated liabilities Total liabilities 341.449.848.924.868 647.350 57.731.453.439.713.552.967) 40.952.972 64.890 5.943.753) 112.388) (1.895) 23.078) (742.817) (1.434.040.867.390) (1.296 91.202) 39.
423 22.884 2008 Tshs ‘000 8.520 4.119 3.447 551.held to maturity Government bonds – held to maturity 78.508 3.765.528 5.680.492 2008 Tshs ‘000 1.265 18.082 575.148.219 104 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .025.501 9.530 35. INTEREST INCOME GROUP 2009 Tshs ‘000 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 Term loans – loans and receivables Overdrafts – loans and receivables Nostro accounts– loans and receivables Placements – held to maturity Treasury bills – held to maturity Corporate bonds – available for sale Treasury bonds .064 10.680.607 28.607 28.246 103.953.509.330 3.148.690 59.552.508 3.530 35.315.114 39.586.423 22.549 20.426.844 2008 Tshs ‘000 8.165.634.770 31.065.103 76.611 3.122 27.706 BANK 2009 Tshs ‘000 1.425 112.620 79.644.212.953.223.265 18.447 503.698 5.749.611 3.315.749.837.966 38.388 703.212.337.925.196 BANK 2009 Tshs ‘000 7. INTEREST EXPENSE GROUP 2009 Tshs ‘000 Demand deposits Saving deposits Fixed deposits Loans and other facilities 1.676.682.119 3.703 110.620 79.228.828.228.467.390.823 229.443.828.690 61.078 3.082 575.388 703.009 143.683 27.770 32.165.807 13.754 20. FEES AND COMMISSION INCOME GROUP 2009 Tshs ‘000 Commission income Fees and other charges 7.796 30.641.698 5.070.7.467.360.807 13.064 10.798.524.318.509.103 145.360.074 39.967.246 103.532 5.079.520 4.079.296.426.025.488 2008 Tshs ‘000 1.823 229.682.570 8.330 3.846.688 38.078 3.286.421.773 30.070.
340.412 236.193 1.519.099.215 28.294 247 183.040.670 BANK 2009 Tshs ‘000 16.697 35.735.519. GENERAL AND ADMINISTRATIVE EXPENSES GROUP 2009 Tshs ‘000 Directors’ fees Auditors’ remuneration Depreciation of tangible assets and Amortization of refurbishment costs amortization of intangible assets Other expenses 36.442 132.239 29.234 1.438 4.735.255) 15.489 6.040.478.513.10.538.674.537 1.180 44.670 11.340. OTHER OPERATING INCOME GROUP 2009 Tshs ‘000 Rental income FDCF grant income (note 32) DANIDA grant income (note 33) RFSP grant income (note 35) FSDT grant income (note 34) CRDB grant (note 36) Gain on disposal of property and equipment 122.931.765.294 57.313 2008 Tshs ‘000 196.097 6.750 470.243.292 201.888 4.855 2008 Tshs ‘000 14.110 (855.476 60.177 236.264 (1.875 BANK 2009 Tshs ‘000 219.875 Taarifa ya Mwaka [Annual Report 2009 Annual Report] 105 .560 28.129.500 28.262 2008 Tshs ‘000 66.046 188. NET FOREIGN EXCHANGE Net foreign exchange income includes gains and losses from spot and forward contracts and translated foreign currency assets and liabilities.743 244.183 257. GROUP 2009 Tshs ‘000 Exchange gain – trading Exchange loss – revaluation 16.074 1.442 132.444 43.113.594) 13.264 (1.321 BANK 2009 Tshs ‘000 122.750 867.591.537 356.157.855 2008 Tshs ‘000 14.594) 13.432 247 1.506.063 5.458.476 60.235.573.110 (855.074 129.565 35.255) 15.215 57.427.074 129.121 1.268 12.099.243.017 2008 Tshs ‘000 66.313 2008 Tshs ‘000 181.478.317 36.
525 1.712.494.724 2008 Tshs ‘000 19. (Subsidiary 30%) Deferred taxation charge Deferred tax charge relating to revaluation surplus Tax paid relating to prior years 14.507.865 BANK 2009 Tshs ‘000 22.868 18.230.409.899 (b) Reconciliation of income tax expense to the expected tax based on accounting pro t: GROUP 2009 Tshs ‘000 Profit before income tax Tax calculated at the applicable rate (Group 25%).862.814.243 2.004.870.467.685.198 3.432 1.016.764.049 17.013 34.460 6.000.192.053.458 1.054 144.578.384 616.520 265.171 15.461 1.114 302.954 15.587. INCOME TAX EXPENSE GROUP 2009 Tshs ‘000 2008 Tshs ‘000 19.296 1. (subsidiary 30%) Net tax eﬀect of expenses and income not deductible for tax purposes Tax expense 16.812.515 2008 Tshs ‘000 60.808 14.621 1.096.552.480.070 1.078 2.967 BANK 2009 Tshs ‘000 14.490 3.968.921.119.604.913 19.054 156.506 BANK 2009 Tshs ‘000 61.813.766.813.929.164 1.171 16.162.087 1.210 2.991 2008 Tshs ‘000 59.899 19.989.103.665.005 6.178 106 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .495.806 32.759 1.351.393 61.543.339 19.296.311 1.566 5.967 15.048 37.096.273.741 985.354.730 19.598 1.003 40.437.094.001.434.426 1.613 5.13.820.790.415 2008 Tshs ‘000 20. STAFF COSTS GROUP 2009 Tshs ‘000 Salaries and allowances Staﬀ training Social security contributions Provision for post – employment benefits Leave allowance Medical expenses Others 23.487.058.401 1.495.351.215 1.799 1.608.393 (a) Tax expense Current taxes on profit for the year at 25%.544 113.497.499 1.418 113.730 2008 Tshs ‘000 19.739 345.535 15.583 1.507.323.
000 14.645.736 63.413 100.785 20.375.642.000 15. PLACEMENTS AND BALANCES WITH OTHER BANKS GROUP 2009 Tshs ‘000 Placement denominated in foreign currencies Maturing: Within 1 month Within 1 to 3 months Within 3 to 6 months Within 6 to 9 months Within 9 to 12 months Placement denominated in local currency Maturing: Within 1 month Balances with foreign Banks Interest receivable 15.438 467.333.247 161.921.306 15.473.311.087 2008 Tshs ‘000 46.686.000 75.244 13.082 BANK 2009 Tshs ‘000 70.881. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 107 .087 184.000 30.785 20.000 59.442 10.070.000) mature within three months and form part of cash and cash equivalents for the purpose of statement of cash flows (Note 42 b).605.000 15.015.229 113.111 184.500.127 140.15.690 252.256.830.063.413 252.250 183.000 59.276 103.155 196.375.714. Statutory Minimum Reserve is not available to finance the Bank’s day to day operations and hence is excluded from cash and cash equivalent for the purpose of cash flow statement (note 42 ).467.330.605.000.034.250 183.155 196.306 161.000 14.128 - 103.000 100.837 313.000.830.442 10.600.311.000 36.000 30.000 36. 16.330.000 100.690 Placements and balances with other banks totaling Tshs 218.127 100.837 2008 Tshs ‘000 46.971 107.500. CASH AND BALANCES WITH GROUP OF TANZANIA GROUP 2009 Tshs ‘000 Cash in hand Balances with Bank of Tanzania: Statutory Minimum Reserve Other balances 70.455.082 The Bank is required to maintain minimum cash reserves of 10% of deposits with Bank of Tanzania (Statutory Minimum Reserve).196.881.249.015.000 75.736 113.276 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 30.000.244 63.645.063.971 107.000.438 467.034.642.052.000 (2008 – Tshs 130.229 140.070.111 313.600.256.714.247 30.249.686.455.921.128 13.473.
008 26.6% (2008: 14.573 17.747 704.730 137.559.798.803.668.036 812.677.802 99.196 17.846.220 108 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .668.085.821.730 137.296) (9.798.408 836.008 26.559.444) (32.147 982.074 1.846.559.220 940.888.220 577.927.107.997 26.392.505.833.296) (9.436 480.317 15.821.436 9.317 15.452.436 17.863 3.997 26.807.981) (26.783 15.220 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 The eﬀective interest rate on loans and advances to customers was 14.008 3.833.677.263.425) 949.878 (1.573 9.444 5.803.884 20.074 1.843 982.287.461 480.010 256. LOANS AND ADVANCES TO CUSTOMERS GROUP 2009 Tshs ‘000 (a) Loans and advances Loans and advances to customers Loans and advances to staﬀ Interest receivable Interest in suspense Provision for impairment of loans and advances Net loans and advances 940.650.436) (11.392.008 220.127.116.113 3.019.586.788 (912.173.802 99.173.952 (1.452.436 17.908.650.846.049) 18.884 20.888 267.012.401.878 (1.012.147 982.019.425) 949.17.888 267.287.981) (26.285 848.287.049) 18.505.783 15.329) 5.036 812.173.747 704.3%) (b) Analysis of advances to customers by maturity Maturing: Within one year Between one year and three years Over three years 577.952 (1.732) 836.156.461 (18.104.22.1683 9.444) (32.410.401.758.410.173.803.196 1.263.010 256.908.650.559.559.573 9.927.085.807.285 848.888.846.803.329) 5.559.758.107.287.461 (5.788 (912.408 836.444 5.436) (11.650.195.586.461 (c) Movement in provision for loan impairment At the beginning of the year Net increase during the year (Note 17 (d)) At the end of the year (d) Loan Impairment charge Increase in provision for loans impairment [note 17(c)] Over provision Bad debts charged oﬀ Recoveries of charged oﬀ loans and advances 1.732) 836.843 982.
777.563 3.844.000 (2008 – Tshs.612 821.010.096.772 252.612 821.915 184.965 27.087.010.800 33.920.4%) and Government bonds .019.442.498 6.12.920.788.650 17.454.920.263.409 23.976.192 9.900 4.11% (2008 – 11.788.595 193.442.000 11.353.087.900 11.841 38.197.650 5.042 23.647 3.453 46.968 62.376.601 420. The weighted average eﬀective interest rates were: treasury bills .974 27.453 17.772 252.615 16.300. GOVERNMENT SECURITIES GROUP 2009 Tshs ‘000 Treasury bills – held to maturity Maturing within 30 days* Maturing after 30 days but within 90 days* Maturing after 90 days but within 180 days Maturing after 180 days but within 364 days Interest receivable Treasury bonds – held to maturity Maturing within 2 years Maturing after 2 years but within 5 years Maturing after 5 years but within 10 years Interest receivable Government bonds – held to maturity Maturing within 3 years Maturing after 3 years but within 4 years Maturing after 4 years but within 5 years Maturing after 5 years but within 7 years 5. treasury bonds – 7.900 51.787 18.142.011 5.421 139.756.000 134.7.711 8.651.124.615 16.800 33.563 10.000 134.124.900 11.421 139.377.194.432 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 * Treasury bills worth Tshs.976.353.688.498 6.486 37.867.528 10.000 11.042 23.440 31.432 46.756.9.601 420.711 8.563 3.787 18.486 37.523.900 11.427 31.409 23.841 38.900 51.010.985.523.011 5.724.500 73. 91.402.719.719.719.765 205.528 10.7%).724. 108.18.651.0% (2008 .197.648.019.211.400 4.985.500 73.440 31.010.688.867.647 3.965 27.0%) Taarifa ya Mwaka [Annual Report 2009 Annual Report] 109 .000) mature within three months and form part of cash and cash equivalent for the purpose of statement of cash flows (note 42).900 11.400 4.096.719.974 27.263.765 205.920.563 10.426.142.689.376.427 31.402.426.800.194.779.689.803.968 62.211.800.192 9.803.454.844.779.98% (2008.900 4.915 184.595 193.
OTHER SECURITIES GROUP 2009 Tshs ‘000 East African Development Group bonds Maturing after 5 years Preferential Trade Area bonds Maturing after 3 years Bhimji Depar Company bonds Maturing after 1 year Interest receivable 111.699 2008 Tshs ‘000 38.010 1.372 35.644.855 1.268 108. 2002.823 8.200.767.010 1.139 1.157 (1.823 8.358.372 35.014 2008 Tshs ‘000 38.645 2.139 1.213 895.669.358 2.791 3.396) 31.213 111. 21.734 991.703.168 1.136 The Bank owns 100% of the issued and paid up ordinary share capital of CRDB Microfinance Services Limited.325.563 108.325.801 BANK 2009 Tshs ‘000 16.791 3.855 1.604.478.616.828.254.55% (2008 – 10.276 249.396) 31.050 610.883 1.883 1.767.734 991.489) 44.000 895.358 2.478.947.616.056 1.669.056 1.369. The weighted average eﬀective interest rate on other securities was 10.452.19.157 (1.703.645 2.489) 45.068 4. The principal activities of the company are to manage microfinance portfolio of the CRDB Group Plc.068 4.200. OTHER ASSETS GROUP 2009 Tshs ‘000 Cheques and items for clearance Prepayments Advance payment for capital items and software Sundry receivables Bills receivable Prepaid card stock Less: impairment losses on other assets 16.358.419.136 2008 Tshs ‘000 728. 20.476.114.954.942 1.591 249.686. EQUITY INVESTMENT 2009 Tshs ‘000 Investment in CRDB Microfinance Service Company Limited 728.322 110 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .476. a company incorporated in Tanzania under the Tanzanian Companies Act.419.050 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 These bonds are classi ed as held to maturity nancial instruments and are stated at amortized cost.686.937 (972.55%).000 610.425.937 (972.
785 (1.634 2.151 5.820.910 23.176 2008 Tshs ‘000 2.632.593 817.252.462 1.940.349.820.336. REFURBISHMENT COSTS GROUP 2009 Tshs ‘000 Balance at 1 January Additions during the year Less: amortization during the year Balance at 31 December 3.579 8.940.875) 3.756.856 1.910 BANK 2009 Tshs ‘000 3.913 5.22.340.183.544 2.857 592.723.041.072.323.340.756.579 8.422 2.934.407.756.726.509 2008 Tshs ‘000 BANK 2009 Tshs ‘000 2008 Tshs ‘000 The intangible assets relate to the computer software Taarifa ya Mwaka [Annual Report 2009 Annual Report] 111 .709 2.383.407.336.857 632.723.857 1.982.313) 6.401 1.940.962 1.122.634 2.313) 6.916 2.252.336.566 1.910 4.735.122.895 348.916 2.863 2.875) 3.063.593 817.336. INTANGIBLE ASSETS GROUP 2009 Tshs ‘000 Cost At 1 January Additions At 31 December Amortization At 1 January Charge for the year At 31 December Net book value At 31 December 3.183.962 1.072.940.489 (1.652 3.063.509 2.726.857 2.509 3.895 348.509 3.151 5.756.354 6.176 2008 Tshs ‘000 2.910 4.652 1.389.785 (1.489 (1.735.
837.024.273.774 Taarifa ya Mwaka [Annual Report 2009 Annual Report] Additions 1.494.982.421 3.074 604.310.280 1.892.112 457.258.654 382.349 (34.345.250.673 8.476.235 2.493 2.982.572 1.146.035.478 Net book value At 31 December 2009 7.162 11.580.077.981.280 1.044 1.532 3.081 (113.399) 2.112 Motor vehicles Tshs ‘000 Total Tshs ‘000 O ce equipment Tshs ‘000 Computer equipment Tshs ‘000 Smart card equipment Tshs ‘000 Security equipment Tshs ‘000 Mobile Branch Tshs ‘000 Work in progress Tshs ‘000 2.183 Charge for the year 258.153 3.610.252 4.751.044.193 686.420 774.647.005 (29.639 1.120 831.498 15.226 199.199.032.404.489 (34.593.544 2.624 1.892 Charge for the year 446. PROPERTY AND EQUIPMENT GROUP Buildings Tshs ‘000 Cost At 1 January 2008 4.508.463.026.486 6.824 1.376 Additions 3.714.122.467.579 2.818.857.059) 3.709 Eliminated on disposal - At 1 January 2009 1.489 6.302.127 708.689 22.003.152 262.059) 38.328 Revaluation gain - Disposals - At 31 December 2009 9.498 8.445 425.318.141 3.327 2.134 1.737 26.177.342 2.565 283.252 343.747.961 1.391.216 4.797 822.144 36.355 753.218) 54.383.840.821.863.369 (7.882 .043.856 1.039.927 1.069 4.802 182.755 5.110.732 15.387 599.796.511.673 6.028 1.278 7.221.880.796 (113.490 86.955.102 Depreciation At 1 January 2008 1.524.032.208 1.727 4.839 (29.652.168.067.664 1.704 5.996.972.968 645.442 86.305 686.998.777 715.658.065) 1.067.790 4.187 2.795 4.159 4.065) 12.421 2.290.051 574.218) 1.844.018.146.216 1.490 196.624 At 31 December 2008 6.050 24.910 1.619.154.002.133.587.012 1.981.282.833.398 Disposals - At 1 January 2009 8.310 6.399) 18.590 4.623.229 751.251 4.028.586 Eliminated on disposal - At 31 December 2009 1.055 1.732 7.754 14.862.518 (7.881 7.764.159 1.
764.147.246 8.476.467.193 686.157.391.059) (937.031.580.544 (563) 382.24.739 Revaluation gain - 1.152 382.618.342 3.872 4.031.796 Disposals - Transfer to subsidiary - 8.797 2.490 86.028 822.194 1.737 14.280 1.168 (29.183 Charge for the year 258.570.069 4.982.250.127 708.218) 52.003.051 439.258.786.445 425.382.252) (113.892 At 1 January 2009 1.821.152 262.519.981.508.631 7.046.774 2.510.570.478 1.044 1.134 1.120 831.404.567.529 Depreciation At 1 January 2008 1.162 4.159 4.796.544 5.109.376 2.572 1.465 561.654 1.872 2.016.153 774.536.565 283.490 86.305 686.421 4.464.018.399) 7.328 1.981.159 1.840.221.737 37.696) 969.498 6.490 196.272.421 (1.119 Additions - 1.857.465 969.727 2.530.234 6.844.440 1.975.016) 37.804 2.829) 4.586.199.216 1.824 1.252 343.589 1.689 22.982.892 Charge for the year 446.177.463.618.102 4.645 2.910 (144.922 3.387 599.972.108 (34.218) 15.755 5.586 Taarifa ya Mwaka [Annual Report 2009 Annual Report] Eliminated on disposal - At 31 December 2009 1.795 4.041 At 31 December 2008 6.055 1.524.077.544 11.652 25.088) 11.133.811.234 6.882 1.786.200. PROPERTY AND EQUIPMENT (Continued) O ce equipment Tshs ‘000 Total Tshs ‘000 Computer equipment Tshs ‘000 Smart card equipment Tshs ‘000 Security equipment Tshs ‘000 Mobile Branch Tshs ‘000 Work in progress Tshs ‘000 BANK Buildings Tshs ‘000 Motor vehicles Tshs ‘000 Cost 7.982.624 3.774 2.442 86.345.732 15.654 .732 At 1 January 2008 (113.709 Eliminated on disposal - Eliminated on transfer to subsidiary - 1.658.545) 4.998.216 4.399) 17.818.219) 11.349 1.840.016.645 1.023 - 9.508.264.511.519.758.978 35.028 1.283 6.059) (791.044.043.790 1.388.488 Net book value 113 At 31 December 2009 7.447 (7.133.398 1.955.802 182.494.927 Additions 3.066) (177.032 11.542 (42.081 2.074 604.671 Disposals - At 31 December 2009 715.549.353.968 645.305 686.647.834 (29.003.863.251 4.280 1.631.032 3.280 1.811.012 1.161 3.751.285.442 3.119 At 1 January 2009 8.421 2.176 (7.996.353.671 (34.226 199.229 751.066) (221.327 2.279.892.815.640 8.039.572 1.652.112 457.811.996.
311) - Motor vehicles 2008 Tshs ‘000 807.426 10.692 24.8 million.592.692 24.713 6. 26.370.859 343.859 343.859 BANK 2009 Tshs ‘000 2008 Tshs ‘000 114 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .118 734. ASSETS CLASSIFIED AS HELD FOR SALE Motor vehicles 2009 Tshs ‘000 Cost Accumulated depreciation Net book value 780. The net book value of the motor vehicles on cost basis as at 31 December 2009 was TZS 2. 3.000 for the bank.465 414.713 6.713 13. 25. PROPERTY AND EQUIPMENT (Continued) Work in progress represents bank’s buildings under construction.859 414.347 6.311 (3.268.885.859 414.426 10.639) 3. Revaluation of motor vehicles was done on 31 December 2009 by an independent valuer.699.426 401.859 414.118 734.786) - O ce/ computer equipments 2009 Tshs ‘000 3.3 million were destroyed as they had no use/ scraped with zero proceeds.786 (780.950 (4.606 758.595.644) - O ce/ computer equipments 2008 Tshs ‘000 4. PREPAID OPERATING LEASES GROUP 2009 2008 Tshs ‘000 Tshs ‘000 Leasehold land Cost At 1 January Additions during the year At 31 December Amortization At 1 January Charge for the year At 31 December Net book value 13.24. 26.644 (807.311 O ce/ computer equipments with value of Tshs.433 414.433 13.347 6. and a movement of Motor vehicle is a result of a donation of a Motor vehicle with value of Tshs.000 for the group and TZS 2.426 401.606 758.713 13.465 414.
915 3.403.008.427 7.991 463.452.461.704.904 172.290.27.081.712 5.243.240 489.712 5.419 1.5% 28.000 3.388.273.081.403.428.915 3.364.915 1.185.397 190.977 701.846 2008 Tshs ‘000 487.451. DEPOSITS FROM CUSTOMERS GROUP 2009 2008 Tshs ‘000 Tshs ‘000 Current and demand accounts Savings accounts Term deposits Interest payable on deposits Analysis of customer deposits by maturity: Payable within 90 days Payable after 90 days and within one year Payable after one year 1.621.179 842.306 1.109 1.143 172.775.773. 29.249.361 190.283.582 1.357 1.542 11.947.067.248 1.735 205.220 392.955 463.238 30.846 1.205 657.915 2008 Tshs ‘000 1.454 205.596 1.621.008.238 19.290 2008 Tshs ‘000 15.842.008.238 19.357 The weighted average eﬀective interest rates on deposits at 31 December 2009 was: Savings .143.220 392.067.544. ** Dividend payable represents uncollected dividends by the Group’s shareholders.500.205 1.351.851.429.238 29.419 BANK 2009 Tshs ‘000 22.214.171.124.205 11.259.430.179 * Bills payable represents Group’s cheques issued to customers that have not yet been presented for payment.100.775.596 BANK 2009 Tshs ‘000 657.756 BANK 2009 Tshs ‘000 4.753.248 1.500.621.618. DEPOSITS FROM AND LOANS DUE TO OTHER BANKS GROUP 2009 2008 Tshs ‘000 Tshs ‘000 Deposits Loans 3.947.351.427 7.803.301.621.143.109 1.273.750 15.882 1.742 205.981.601.762 608.018. OTHER LIABILITIES GROUP 2009 2008 Tshs ‘000 Tshs ‘000 Bills payable * Sundry payables Dividend payable ** Accrued expenses Other liabilities 4.205 12.018.428.762 608.601.725 8.582 1. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 115 .240 489.273.273.419 1.771.775.388.306 1.542 11.156 701.004.842.367 385.301.419 The maturity analysis for deposits from and loans due to other banks at the end of the reporting period is summarized in note 47.319 205.099.443.000 3.416 2.127 385.851.364.008.4% and time deposits – 6.725 8.416 2.451.775.179 842.882 487.
957.000 2009 Tshs ‘000 1.368 (132.920.920.294) 2008 Tshs ‘000 192.796 (129.000 The subordinated debt from DANIDA Investment Fund (DIF) of Tshs 1.054) 352.538 (19.000 96. DANISH INTERNATIONAL DEVELOPMENT AGENCY (DANIDA) GRANT GROUP 2009 Tshs ‘000 2008 Tshs ‘000 2009 Tshs ‘000 BANK 2008 Tshs ‘000 At 1 January Credited to profit or loss for the year Repayment to DANIDA At 31 December - 141.920.771 BANK 2008 Tshs ‘000 202.294 (60.294) BANK 2008 Tshs ‘000 192.581) - 116 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .351. 32.621) 4.000) 1.556 2009 Tshs ‘000 352.351.920.000) 1. Interest is payable yearly at a rate of 5% p.072 19.294 (60.000) 1.215) (12.054) 455.294 The Group entered into a contract with Enterplan Limited UK.392 31.846.000 (96.000 (14. whereby Enterplan agreed to pay a grant not exceeding Sterling Pound (GBP) 998.556 19.089.501.000) 1. FINANCIAL DEEPENING CHALLENGE FUND (FDCF) GRANT GROUP 2009 Tshs ‘000 At 1 January Credited to profit or loss for the year At 31 December 60.920.074) 60.434.604.215) (12.a. The contract expired on 31 March 2005.763.30.070) 4.920.392 18.000 96. CURRENT INCOME TAX ASSET GROUP 2009 Tshs ‘000 Balance at 1 January Payments during the year Charge to statement of comprehensive income Balance at 31 December 455.000 2008 Tshs ‘000 1.486 2008 Tshs ‘000 202.000 96.000 (14.796 (129. SUBORDINATED DEBT GROUP 2009 Tshs ‘000 Balance at 1 January Accrued interest during the year Interest paid during the year Balance at 31 December 1.368 (132.000 (96.072 19.920.920.000 BANK 2008 Tshs ‘000 1.000. 33.581) - - 141.850 over three years in support of the Smart Card project under the Financial Deepening Fund (FDCF).000 (96.000 (96.074) 60.000 96.294 2009 Tshs ‘000 60.000 is repayable in 8 years from 30 December 2005.920.374 (19.587.
this grant was transferred to the CRDB Microfinance Services Limited from CRDB Bank Plc.USD 628. CRDB GRANT GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000 At 1 January Grant transferred from CRDB Plc Credited to profit or loss for the year At 31 December 43.33.872). DANISH INTERNATIONAL DEVELOPMENT AGENCY (DANIDA) GRANT (Continued) DANIDA grant is under the Business Sector Program Support II (BSPS II).228 - - In the year 2008.250 (57. RURAL FINANCIAL SERVICES PROGRAM (RFSP) ASSET GRANT GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000 At 1 January Grant transferred from CRDB Plc Credited to profit or loss for the year At 31 December 115.743) 334.750 173.063 300. In the year 2008. The program had come to an end on 30th June 2008.8 million from the Financial Sector Deepening Trust of Tanzania (FSDT) for strengthening its micro nance partners and expand outreach. FINANCIAL SECTOR DEEPENING TRUST (FSDT) GRANT GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000 At 1 January Grant received during the year Credited to profit or loss for the year At 31 December 334.971 (470.750) 115.026 - - - The grant relates to taxes on purchase of the motor vehicle for the General Manager of the bank’s subsidiary which was paid by the bank on behalf of the subsidiary.543 804. The program involves strengthening the Group in performance and business processes.458 (5. A total of USD 654.432) 38. 35.500 - - This asset grant relates to four motor vehicles purchased through a grant received under the Rural Financial Services Programme (RFSP) under the Prime Minister’s Oﬃce-United Republic of Tanzania for support of Microfinance Institutions.378 (867. the Group secured a three years grant of USD 3. 34.500 (57. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 117 . The program also supports Microfinance and SME program of the Group. 36.228 833.750) 57.708 was received during the year (2008 .
37. DEFERRED INCOME TAX ASSETS
GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000
Accelerated capital allowance Other movements
(288,244) 497,264 209,020
256,745 1,347,115 1,603,860
(133,024) 459,521 326,496
323,254 1,269,180 1,592,434
Deferred income taxes are calculated on all temporary di erences under the liability method using the enacted rate of 25%. The deferred income assets are attributable to the following items:
GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000
Movement in deferred tax assets is as follows: Balance at 1 January Charge for the year Balance at 31 December 1,603,860 (1,394,840) 209,020 1,748,773 (144,913) 1,603,860 1,592,434 (1,265,938) 326,496 1,748,773 (156,339) 1,592,434
38. SHARE CAPITAL
BANK 2009 Tshs ‘000 Authorized 4,000,000,000 (2008: 1,000,000,000) ordinary shares of Tshs 25 (2008: Tshs 100) each Issued and fully paid 2,176,532,160 (2008: 247,333,200) ordinary shares of Tshs 25 (2008: Tshs 100) each 54,413,304 24,733,320 100,000,000 100,000,000 2008 Tshs ‘000
The movement in share capital and the number of shares from January to December 2009 was as follows:
Share capital As at 1 January Issue of bonus Rights issue As at 31 December Number of shares As at 1 January Issue of bonus Share split Rights issue As at 31 December 24,733,320 24,733,320 4,946,664 54,413,304 247,333,200 247,333,200 1,483,999,200 197,866,560 2,176,532,160 24,733,320 24,733,320 247,333,200 247,333,200
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
39. BASIC EARNINGS PER SHARE
2009 Tshs ‘000 Profit for the year Weighted average number of shares (‘000) Basic earnings per share 45,824,636 2,103,953 22 2008 Tshs ‘000 40,508,901 247,333 164
The denomination for the purpose of calculating basic earnings per share for 2008 has been adjusted to reflect the following which happened during the year. • • • • Capitalization issue of 247,333,200 bonus share; Share split of 1:4 Rights issue of 171,370,148 shares and, Initial Public Oﬀer of 26,496,412 ordinary shares.
40. DEFINED BENEFIT GAIN & ASSET
2009 Tshs ‘000 Actuarial valuation Amount paid during the year Benefit liabilities Available funds 2,889,468 (1,015,738) 1,873,729 2,383,758 510,029 2008 Tshs ‘000 -
41. REGULATORY CAPITAL - GROUP
The Bank complied with minimum capital requirement as required by sections 16 and 17 of the Banking and Financial Institution Act, 2006 and the Bank of Tanzania Capital Adequacy Regulations 2008. The Bank’s capital is computed in accordance with these regulations, as follows:
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
41. REGULATORY CAPITAL – GROUP (Continued)
2009 Tshs ‘000 Share capital Share premium Revenue reserve Less: Prepaid expenses Intangible assets Core capital ( Tier 1) Add: Supplementary capital (Tier 2): Subordinated debt* 1,536,000 201,168,916 1,920,000 136,623,178 54,413,304 18,764,932 132,566,359 205,744,595 (2,478,823) (3,632,855) 199,632,916 2008 Tshs ‘000 24,733,320 115,921,365 140,654,685 (4,767,855) (1,183,652) 134,703,178
The risk weighted assets are measured by means of a hierarchy of four risk weights classified according to the nature of asset and reflecting an estimate of the credit risk associated with each assets and counterparty. A similar treatment is adopted for oﬀ-balance sheet exposure, with some adjustments to reflect the more contingent nature of the potential losses. *Subordinated debt has been discounted by 20% after 5 years.
2009 Tshs ‘000 Tier 1 Capital & Tier 2 Capital Risk–weighted assets On-balance sheet Oﬀ-balance sheet Total risk-weighted assets Basel ratios Tier 1 (BoT minimum – 10%) Tier 1 + Tier 2 (BoT minimum – 12%) 21% 21% 17% 17% 899,573,909 54,461,427 954,035,336 712,719,411 71,198,835 783,918,246 201,483,506 2008 Tshs ‘000 136,623,178
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
42. CASH GENERATED FROM OPERATING ACTIVITIES
(a) Reconciliation of pro t before taxation to net cash used in operations
GROUP 2009 2008 Tshs ‘000 Tshs ‘000 Profit before income tax Adjustment for non-cash items: Depreciation of property and equipment Amortization of intangible assets Amortization of prepaid operating leases Amortization of refurbishment costs Gain on disposal of property and equipment Movement in working capital items: Increase in statutory minimum reserve Increase in deposits from and balances due to other Groups Increase in Treasury Bills Decrease/ (Increase) in Treasury Bonds, Government Bond & Other Securities Increase in loans and advances to customers Decrease in other assets Increase in deposits from customers (Decrease)/ increase in other liabilities Decrease in FDCF grant Increase in FSDT grant Decrease in RFSP grant Decrease in subordinated loan Net cash generated from operating activities 8,894,734 (112,701,815) 13,944,788 347,937,287 (10,115,710) (60,294) 4,340 (57,750) 180,283,673 (10,515,185) (248,456,400) 2,110,545 259,750,293 9,407,314 2,608 (96,000) 40,017,254 8,894,734 13,713,623 347,850,490 (10,537,593) (60,294) 179,275,816 (10,515,185) 2,652,024 260,270,054 9,106,737 (447,120) (96,000) 39,926,299 (112,701,815) (248,456,400) (24,293,304) (36,936,279) (9,750,644) (4,821,676) (24,293,304) (36,936,279) (9,750,644) (4,821,676) (76,100,000) (24,000,000) (76,100,000) (24,000,000) 5,862,839 632,544 10,692 1,340,313 (247) 69,767,676 4,318,518 348,962 6,713 1,735,875 (28,537) 66,386,399 5,631,833 592,709 10,692 1,340,313 (247) 69,446,254 4,157,447 348,962 6,713 1,735,875 (28,537) 65,984,509 61,921,535 60,004,868 BANK 2009 2008 Tshs ‘000 Tshs ‘000 61,870,954 59,764,049
(b) Analysis of cash and cash equivalents
Cash in hand Balances with Bank of Tanzania Balance with other banks Treasury bills Deposits from and loans due to other banks maturing and repayable within 3 months respectively. (3,775,915) 453,099,016 (3,351,419) 295,635,295 (3,775,915) 453,099,016 (3,351,419) 295,635,295 70,330,250 59,714,837 218,052,467 108,777,376 46,830,971 30,311,110 130,196,333 91,648,300 70,330,250 59,714,837 218,052,467 108,777,376 46,830,971 30,311,110 130,196,333 91,648,300
Taarifa ya Mwaka [Annual Report 2009 Annual Report]
327 Letters of credit are commitments by the bank to make payments to third parties. Shinyanga.332. and Head Oﬃce. Capital commitments authorized but not yet contracted for relates to purchase of personalization machine. University of Dar es Salaam.345 104.886 18. UPS. No other provisions has been made awaiting the court ruling. on production of agreed documents on behalf of customers and are reimbursed by the customers.797 500. in the normal course of business. Manyara. Lindi.012. The Bank will only be required to meet these obligations in the event of the customer’s default.765.575 568.765.391.048 Capital commitments authorized and contracted are in respect of costs for refurbishment of NSSF.500 17. 122 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .519. COMMITMENTS GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000 Commitments to extend credit Capital commitments Authorized and contracted for Authorized not yet contracted for 60. The Group has taken appropriate legal steps to defend against the claims on court cases.048 60.692. Marangu. Zanzibar.317 42.620 65.345 104.519.500.500. as in the opinion of the Directors the potential liability is neither probable nor quanti able at the date of these nancial statements. involved in a number of court cases.957 19.218 755.033 20.609.156 127.685. CONTINGENT LIABILITIES GROUP 2009 2008 Tshs ‘000 Tshs ‘000 BANK 2009 2008 Tshs ‘000 Tshs ‘000 Guarantees and indemnities Letters of credit Travelers cheques Outward foreign bills for collection 22.156 127.327 22. Guarantees and indemnities are generally written by the Bank to support performance by a customer to third parties.797 500.511.500 17.620 65.548 359.548 359.033 20. 44.000 3.823 4. Dodoma. Mbagala. laser / report printers and CCTV equipment.391.567. Holland House. The Group has provided for the liabilities arising out of contractual obligations.000 17. Moshi. Mpanda. Musoma. furnitures. Kijitonyama. Meru.906 63.332.511.43.823 4.786.692.906 63.012.000 17.575 568.000 3. Kibaha. Kariakoo.317 42.786.685. Morogoro.Mwanza. Litigation The Group is.886 18.567.609.957 19.218 755.
656 38.942. insurance & business service Real estate & construction Trade & commerce Transport & Communication Other services 14.153. insurance & business service Mining & quarrying Manufacturing Real estate & construction Transport & communication Trade & commerce Tourism.513.327 9 28 16 35 10 2 100 46.808.384.162 22.191 27.655 45. RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial or operational decisions. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 123 .657 91.302 11 22 2 30 22 7 6 100 5.629.329. travelers cheques.355.601.411 7.180 31.461 26 7 1 7 5 7 17 5 7 12 6 100 237.477.468.595 2.096 59.546.957 105.051.195.453. forestry & hunting Electricity.177.976.131 52.318 17.587 848.225 126.96.36.1993 6.217. liabilities and o balance sheet items by economic sector are as detailed below: (a) Advances to customers (Gross) 2009 Tshs ‘000 % 2008 Tshs ‘000 % Public sector Agriculture fishing.332 41.495 72.394 68.381.453. LIABILITIES AND OFF BALANCE SHEET ITEMS Details of signi cant concentrations of the Banks assets.448.682.926 8.685.423 295.052 982.486 2.143.586. and OFBC) 2009 Tshs ‘000 % 2008 Tshs ‘000 % Agriculture fishing. guarantees.732 33.808 63.952 7.019. CONCENTRATION OF ASSETS. gas and water Personal Other 257.427 110.359.135. hotels & restaurants Electricity.460 10.952 28 7 1 11 5 4 15 4 13 12 100 (b) O balance sheet items (Letter of credit.179 28.344 127.634 166.902.592.054 10.103.375 57.785.45.944 121.042. forestry & hunting Finance.377 127.464.871.264 59. gas and water Finance.208.731.699 1.
869 1.483 654. RELATED PARTY TRANSACTIONS (Continued) Advances to customers at 31 December 2009 include advances and loans to companies associated with Directors and key management personnel.137.404.093 2.172 GROUP 2008 Tshs ‘000 1.694 4.569.067 2. 124 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .656 Directors’ fees.870. The volumes of related party transactions for the year and the outstanding amounts at the year end are as follows: COMPANIES ASSOCIATED WITH DIRECTORS 2009 Tshs '000 Loan and advances At 1 January Net movement during the year At 31 December Interest earned Deposits At 1 January Net movement during the year At 31 December Interest paid 46.412.194.799 16.455.164 139.046.Tshs 181.221 4.46.064.805.129.090 271.090 (681.643 982.783.145 19.194.937 73. Managing Director and head of units who are reporting directly to the Managing Director.151 249.757 46. were Tshs.477 (2008.937 18.926) 3.208 728.137.584 30.732.257). which are included in the compensation of key management personnel.067 59.021 1.253 593.851 61. Compensations of key management are as follows:2009 Tshs ‘000 Short term employee benefits Post employment benefits 1.325 1.086 654.331 236.556 17. 219.064 59.621.362.878 2008 Tshs '000 DIRECTORS AND OTHER KEY MANAGEMENT PERSONNEL 2009 Tshs '000 2008 Tshs '000 These loans and advances are performing and are adequately secured Compensation of Key Management Personnel Key management personnel comprise of Board of Directors.087 63.556 1.589.
601 1.831.260) (360.058.033) 25.920.444.403.862) (93.348.741.240) (24.622 (140.937 1.883) (551.460.213) 98.283.293.831.626.301 (3.633.138.920.976.617.915.814) (1.971 149.122) (1.928 26.485.906.138.087 234.124.734 164.734 (93.455.960.242 111.004.636.900 61.966.135.635 FINANCIAL ASSETS Cash and balances with Bank of Tanzania Placements and balances with other banks Loans and advances to customers Government securities Other securities Total nancial assets FINANCIAL LIABILITIES Deposits from customers Deposits from and loans due to other banks Subordinated loan capital Total nancial liabilities Net liquidity gap At 31 December 2008 Total nancial assets Total nancial liabilities Taarifa ya Mwaka [Annual Report 2009 Annual Report] Net liquidity gap 125 .603.881.937 22.468.127 46.796.215.087.460.940.605.770.891 490.862) 211.460) (312.558) (320.401.036 252.000) (142.182 (510.420) (514.621.400) 32. LIQUIDITY RISK The table below analyses assets and liabilities of the Group into relevant maturity groupings based on the remaining period at 31 December 2009 to the contractual maturity date.240.973 (339.000) 108.278.775.920.883 1.414 1–3 Months Tshs’000 4–6 Months Tshs’000 7 – 12 Months Tshs’000 1–3 Years Tshs’000 4-5 Years Tshs’000 Over 5 Years Tshs’000 Total Tshs’000 313.969 343.268.371.645.992.556) (127.122) 22.114 128.789.616.087 252.605.961.636.018.272) 164.615.783) 257.259) (104.967.505.045 610.010 62.867.751.382.971 (1.078.689.517.489 (239.127 949.968 612.714.272 (86.915.272) (93.688 299.836.174) 280.872.375.431.737 (1.259) (104.329 256.344.163 257.563.843 9.357 (514.304 137.139 895.776) 92.495) (550.087 252.585) 73.382.915) (1.47. Up to 1 Month Tshs’000 313.531.380 281.483.512.814) (1.645.467.061) (127.882) (83.596.800 39.411 (1.301 32.588 361.523 152.409 23.224.841.793) (3.937.779.414 9.500 110.621.563 (507.797) 143.000) (93.
793) (3.973 (360.124.010 62.348.127 949.278.688 299.553.344.621.259) (104.960.635 Loans and advances Government securities Other securities Total financial assets FINANCIAL LIABILITIES Deposits from customers Deposits from and loans due to other banks Total financial liabilities Interest rate sensitivity gap At 31 December 2008 Total nancial assets Total nancial liabilities Net liquidity gap .841.966.512.636.992.617.455.558) (320.114 128.501 313.605.382. FINANCIAL ASSETS 252.737 (1.687 145.621.293.867.138.087 234.489 (239.770.058.095 211.061) (127.915) (93.409 23.004.624.087.242 111.560.734 164.460.800 39.301 32. The Group does not bear an interest rate risk on o balance sheet items.505.295.431.862) 164.403.596.937.126 Up to 1 Month Tshs’000 Tshs’000 1–3 Months Tshs’000 4–6 Months Tshs’000 7 – 12 Months Tshs’000 1–3 Years Tshs’000 Over 3 Years Tshs’000 Non-interest Bearing Tshs’000 Total 48.122) (140.371.814) (1.776) 92.163 257.018.414 323.411 (1.920.523 152.272) (93. INTEREST RATE RISK The table below summarizes the exposure to interest rate risk.000) 108.601 1.283.789.645.033) 25.268.796.460.485.689.177.751.883 1.900 61.831.213) (214.272 (86.797) 230.087 9.118) (339.937 22.420) (514.862) (93.741.775.382.517.444.976.304 137.814) (1.087 252.615.215.915.135.794. categorized by the earlier of either contractual reprising or maturity dates.961.240) (24. Included in the table are the Group’s assets and liabilities at carrying amounts.380 (140.460) (312.272) 256.468.301 1.763.122) 24.967.906.891 (507.937 343.127 46.531.224.636.588 361.605.779.174) 280.928 26.500 (93.968 299.329 (551.645.045 610.783) 257.139 895.160.734 Cash and balances with Bank of Tanzania Placement and balances with other banks Taarifa ya Mwaka [Annual Report 2009 Annual Report] (510.836.883) 281.971 (1.259) (104.843 313.603.357 (514.483.455.036 252.831.622 149.260) 73.872.882)) (3.401.138.971 32.078.585) 490.495) (550.563.563 110.556) (127.616.
616 15.633 5.127 949.883) 281.626.768.077) (13.585) 490.696) 88.836) (42.731.960.49.323. The Group’s currency risk is managed within the Bank of Tanzania exposure guideline of 20% core capital.311.960) (289.505.357 (514.170 759.690 384.092) (3.334.323.920.234.351 13.723.000) (1.103.971 (330.920.778.973 (360.836) (54.512.796.527.986 3. FOREIGN EXCHANGE RISK The Group operates wholly within Tanzania and its assets and liabilities are reported in the local currency.621.224.882) (3.601 1.253.072.124.133.401.737 (1.283.036 252.216 12.303 252.920.269 472.174) 280.054 Deposits from customers Deposits from and loans due to other banks Subordinated loan capital Total nancial liabilities Net balance sheet position At 31 December 2008 343.775.644) (42.994 53.489 73.483.601 1.334.776.971 Total nancial assets Taarifa ya Mwaka [Annual Report 2009 Annual Report] Total nancial liabilities Net liquidity gap 127 .455.280.915) (1.851 Cash and balances with Bank of Tanzania Placement and balances with other Banks Loans and advances Government securities Total nancial assets FINANCIAL LIABILITIES (1.485.001 42.992.800 (312.783) 257.229.892.835) (225.605.553.960 313.000) (1.460) 39.403.733 180.967.316.311) (330.995.604) (1.018.621. The Group’s currency position as at 31 December 2009 was as follows: TSHS Tshs’000 USD Tshs’000 GBP Tshs’000 EURO Tshs’000 OTHERS Tshs’000 TOTAL Tshs’000 FINANCIAL ASSETS 296.563 110.976.351) (5.240) (24.517.550.181.017.797) 142.841.087 252.741.695.714.960) (13.645.558) (320.260) (239.807.719.631 4.662) (5.181.971 (1.960 12.976.644) (168. The Group’s management monitors foreign currency exposure on a daily basis.695.966.135.000) (1.892.272 (86.567 190.000) 108.532.015 39.
ASSETS PLEDGED AS SECURITY As at 31 December 2009. 128 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .120 (2008 – Tshs 4.725. COUNTRY OF INCORPORATION The Bank is incorporated under the Tanzania Companies Act 2002 and domiciled in Tanzania. DIVIDENDS In respect of the current year. This dividend is subject to approval by shareholders at the Annual General Meeting and. CURRENCY These financial statements are presented in thousands of Tanzania Shillings (Tshs’000).066. 15. there were no assets pledged by the group to secure liabilities and there were no secured Group liabilities (2008: NIL). in line with the provisions of International Accounting Standard No 10.50.235. 52. the Directors propose that a total dividend of Tshs.320) will be paid to shareholders.353. 51. has not been included as a liability in these nancial statements. 53.
2.Taarifa ya Mkutano Mkuu wa 15 wa Mwaka wa Wanahisa Taarifa inatolewa kwamba Mkutano Mkuu wa Kumi na Tano wa CRDB BANK PLC utafanyika siku ya Jumamosi tarehe 26 Juni 2010. 12. asiwe mufilisi. Kufunga Mkutano. Waombaji wote watajulishwa kupokelewa kwa maombi yao na maelezo mengine kuhusu uchaguzi. 8. katika Kituo cha Mikutano cha Kimataifa Arusha (AICC). 122 na kifungu namba 70 cha Sheria ya Mabenki na Taasisi za Fedha ambavyo vinabainisha vigezo vya mwombaji kuwa mkurugenzi. Kuchagua Mwenyekiti na Makamu Mwenyekiti. Kujadili na kupokea Taarifa ya Bodi ya Wakurugenzi na Taarifa za Mahesabu yaliyokaguliwa ya mwaka 2009. 7. Kuidhinisha ada ya Wakurugenzi. awe na elimu na uzoefu wa mambo ya uchumi. 9. 5. 13. Kuthibitisha kumbukumbu za Mkutano Mkuu uliopita. 8.1 Taarifa ya Bodi ya Wakurugenzi. 2. Ukumbi wa Simba. Kujadili yatokanayo na kumbukumbu za Mkutano Mkuu Maalum uliofanyika 2008. 3. Kupanga mahali na tarehe ya Mkutano ujao.2 Hesabu zilizokaguliwa kwa mwaka unaoishia tarehe 31 Disemba 2009. 14. 8. 15. Taarifa ya Mwaka [Annual Report 2009 Annual Report] 129 . 10. nakala 2 za picha (passport size) na nakala ya ukurasa wa mwisho wa hati ya kusafiria (passport) na zifike kabla ya Jumatatu tarehe 07/06/2010 saa 10 jioni. Mengineyo kwa idhini ya Mwenyekiti. MAELEZO 1. Kuthibitisha kumbukumbu za Mkutano Mkuu Maalum uliofanyika 2008. Kuthibitisha na Kuchagua Wajumbe wa Bodi ya Wakurugenzi. sheria au maendeleo vijijini. asiwe chini ya umri wa miaka 21 au zaidi ya miaka70. fedha au uhasibu.3 Gawio kwa mwaka 2009. Kuridhia Dondoo. Kujadili yatokanayo na kumbukumbu za Mkutano Mkuu wa Kumi na Nne. 11. Daftari la Wanahisa litafungwa kuanzia tarehe 26/06/2010 na litafunguliwa tena tarehe 28/06/2010. 6. Kujadili Mapendekezo kutoka kwa Wanahisa. Wanahisa wote watakaotaka kuchaguliwa kuwa Wakurugenzi wa Bodi wanatakiwa kutuma maombi yao kwa Katibu pamoja na wasifu (C. Kufungua Mkutano. Waombaji wanatakiwa kuzingatia sifa zinazotakiwa kama zilivyoainishwa kwenye Katiba ya Benki kifungu namba 106. kilimo au ushirika pia asiwe mwanasiasa.00) asubuhi kujadili dondoo zifuatazo: 1. 8. Kuteua Wakaguzi wa Hesabu.V). kuanzia saa tatu kamili (Saa 3. 4.
B. tarehe 25/6/2010 katika Kituo cha Mikutano cha Kimataifa Arusha (AICC).00 asubuhi. Ukumbi wa Simba kuanzia saa 3. TAARIFA YA SEMINA KWA WANAHISA Taarifa inatolewa kwamba kutakuwa na semina kwa Wanahisa itakayolenga kutoa elimu kuhusu uwekezaji katika hisa.00 jioni.3. vinginevyo yatapatikana Arusha tarehe 23 hadi 26 Juni 2010. 5. 4. utaratibu wa kuuza na kununua hisa kutumia mtandao wa Benki ya CRDB na kulipa gawio kwa kutumia mitandao ya simu za mkononi. Wanahisa wanaotaka kuhudhuria Mkutano watajigharamia usafiri na malazi. Semina hiyo itafanyika Ijumaa. Rugambo Katibu wa Kampuni 04 Mei 2010 130 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Mapendekezo kutoka kwa wanahisa yatakayojadiliwa katika dondoo namba 12 yatumwe na yamfikie Katibu kabla ya Ijumaa tarehe 04/06/2010 saa 10. Makabrasha ya Mkutano yatapatikana matawini na yanaweza kuchukuliwa kuanzia tarehe 17/06/2010. KWA IDHINI YA BODI J.
provides for qualifications that are required which include. 26th June 2010 at the Arusha International Conference Centre (AICC). Taarifa ya Mwaka [Annual Report 2009 Annual Report] 131 . To deliberate on proposals from Shareholders. NOTE: 1. Confirmation of Appointment and Election of Members of the Board.3. To set the place. 8. 2. 4. To approve the Directors‘ Remuneration. 13.2. 15. 10. 8. Year 2009 Dividend. seventy or more years of age. Simba Hall. also he/she should not be a politician. 122 and Article 70 of the Banking and Financial Institutions Act which. To confirm the minutes of the Fourteenth General Annual Meeting. Noti cation of receipt of application and other details will be sent to all applicants upon receipt of the applications. 3. 7. or under 21 years of age. Any other business with leave of the Chair. All shareholders who wish to be elected as Board members must submit their applications with their curriculum vitae. To adopt the agenda. two copies of passport size photographs and copies of the last page of their passports to reach the Secretary by 4. Audited Financial statements for the year ended 31st December 2009. To elect the Chairman and Vice Chairman. To close the meeting. To adopt the Directors’ Report and Audited Financial Statements for year 2009.m.00 a. 9. To confirm the minutes of the Extraordinary General Meeting 2008. 8.1. date and venue of the next meeting. bankrupt. and the following Agenda will be transacted: 1. to possess knowledge and experience of either economic or nancial matters or accounting or legal expertise or rural development. Directors’ Report. 14. 5. To open the Meeting. 11. To discuss the matters arising. amongst other things. commencing at 9. 8. 12. Applicants are reminded to observe the requirements of the CRDB Bank Articles of Association number 106.Notice of the 15th Annual General Meeting Notice is hereby given that the FIFTEENTH ANNUAL GENERAL MEETING of CRDB BANK PLC will be held on Saturday. 6. 2. The shareholders register will be closed from 26/06/2010 and will be opened on 28/06/2010. agriculture or co-operatives. To discuss the matters arising from the Extraordinary General Meeting 2008. To appoint the Auditors.00 pm on Monday 07/06/2010.
00 pm on Friday.00 a. at the Arusha International Conference Centre (AICC). Rugambo Company Secretary 4th May 2010 132 Taarifa ya Mwaka [Annual Report 2009 Annual Report] . Simba Hall. 4. transfer of shares using CRDB Bank branch network and payment of dividend by use of Telecommunication Companies’ services (ZAP & M-PESA) on 25/06/2010 starting at 9. Papers for the meeting may be collected from CRDB Bank Branches with eﬀect from 17/06/2010 and will also be available in Arusha from 23rd to 26th June 2010. 04/06/2010. BY ORDER OF THE BOARD J. Costs for transportation and accommodation will be borne by shareholders themselves.3. All proposals to be discussed under agenda No. 12 must be received by the Secretary not later than 4. NOTICE OF A SEMINAR FOR SHAREHOLDERS Notice is hereby given that there will be an educational seminar on investing in shares and other securities & return on investment. B. 5.m.
Mtandao wa Huduma Service Points Bukoba Karagwe Musoma Tarime Mwanza Bugando Nyerere Geita Nyanza Shinyanga Kahama Arusha Mapato Meru Usa River Moshi Hai TPC Marangu Kigoma Tabora Singida Manyara Tanga Korogwe Dodoma UDOM Sumbawanga Morogoro Kilombero Mandela Mazimbu Mzumbe Sua Zanzibar Pwani Dar es Salaam Azikiwe Azikiwe Premier Hollanda House Kijitonyama Lumumba Mbagala Mbezi Beach Mlimani City Pugu Road Tower UDSM Vijana Water Front Kariakoo Mabibo Mbeya Mbozi Iringa Mkwawa Njombe Lindi Songea Mbinga Ufunguo/Key: Tawi/Branch SACCOS Mtwara Taarifa ya Mwaka [Annual Report 2009 Annual Report] 133 .
O ce Accommodation Scheme 4th floor – Azikiwe street P. 16th floor Zone 4. Box 2939 Dar es Salaam Tanzania Citibank.O. Dar es Salaam LEGAL ADVISORS ADEPT Chambers Peugeot House. 1st floor 36 Ali Hassan Mwinyi Road Dar es Salaam TAX ADVISORS Deloitte & Touche Audit Company PPF Tower. B. 12 Halmene Kanal. Box 268. N. NEW YORK NY 10043 USA Deutsche Bank AG London 6 Bishops Gate LONDON EC 2N 4DA UNITED KINGDOM Lloyds TSB Bank Plc Overseas Division. Dar es Salaam AUDITORS Deloitte & Touche Audit Company PPF Tower. Box 19 6 Eastcheap. Dar es Salaam MAIN BANKERS Bank of Tanzania 10 Mirambo P.O.A. Box 268. J. Dar es Salaam 134 Taarifa ya Mwaka [Annual Report 2009 Annual Report] .1092 Copenhagen K.O. 10th floor Ohio/Garden Street. 10th floor Ohio/Garden Street. LONDON EC 3P 3AB UNITED KINGDOM Danske Bank. Rugambo O ce Accommodation Scheme 4th floor – Azikiwe Street P. P. 112. Postfach 2628 D-6000 Frankfurt 1 GERMANY COMPANY SECRETARY Mr. DENMARK Nordea S-10571 STOCKHOLM SWEDEN DZ Bank. Wall Street. Box 559.O.Taarifa za Kampuni Company information REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS CRDB Bank Plc. DK. P.O.
.Tunajali maendeleo ya biashara yako...
Matawi yanayotembea yanakupa huduma zote za kibenki zikiwemo huduma za ATM. mijini na jirani walipo wateja wake kwa kupitia matawi yanayotembea “Branch on Wheels”. ufurahie huduma zetu! .Inakufikia popote Tanzania.. CRDB Mobile Branch Benki ya CRDB inakuletea huduma za kibenki hadi vijijini.. Fungua akaunti yako leo.
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