CRDB controls 20% of total lending fund

CRDB Bank is controlling 20 per cent of total loan market share in the country which makes it one of two leading financial institutions in loan disbursement.

The bank's Director of Credit, Anderson Mlabwa, said the bank has loaned out 3.6tri/- out of 15.8tri/- of total lending in the country as at the end of June. Agriculture is the leading sector to which most loans are channelled to, he said during inauguration of the bank customer care service week in Mbeya.

During the week, among other things, the top management of the bank went to branches to meet and serve customers so as to understand better their needs.

Customer Service Week is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis.

In Mbeya, Mr Mlabwa said though banks continue to educate loaners, still some are failing to separate family and business expenditures. The phenomenon is among the factor that dwarfing benefits realising from borrowing at small- scale business levels.

Despite CRDB making strides on dishing out loans, the Bank of Tanzania (BoT) monthly economic review of August showed that annual growth of credit to the private sector slowed to 15.2 per cent in July 2016 from 23.5 per cent in July 2015.