CRDB Bank Plc share price closed at 520/- during the opening day of this week, agronomic, after gaining by 4 percent, compared to the price recorded during the last trading day of last week.
The Dar es Salaam Stock Exchange (DSE) market reports show that similar price of the current top mover of the market was recorded on May 18, 2023 close.
The increase of the bank’s share price also pushed up its market capitalization to 1.35trn/- on Monday, compared to 1.30trn/- recorded during the end of last week.
During the opening of the day, the daily market report shows, the counter of the largest bank in terms of assets recorded the transaction of 2.29 million shares valued 1.15bn/- traded at a price ranging from 500/- to 520/- in 123 deals.
Out of shares transacted, 2.19 million were moved through block trade pre-arrangement market board.
This is being experienced ahead of dividend announcements, after the bank closed last year with the basic earnings per share of 162/- compare to 135/- recorded in 2022, with net profit of 423.7bn/- compared to 351.4bn/- respectively.
CRDB Bank PLC is the leading banking institution in Tanzania in terms of assets, loans & advances and customer deposits, with an ambition to expand its footprint in the wider East Africa region.
Besides playing an influential role in the socio-economic development of the country, CRDB Bank consistently relies on its sound business model to pursue a sensible diversification strategy, alongside consolidating and improving its banking operations.
The gaining of the CRDB Bank share also enabled the improvements of share indices, as Tanzania Share Index (TSI) closed at 4,405.18 points, an increase of 19.35 points, while all share index (DSEI) closed at 1,772.10 points, an improvement of 6.14 points.
The Banks, Finance and Investment Index (BI) also gained by 64.12 points, after closing at 4,841.72 points.
The second top mover of the day was NMB Bank counter, which recorded the transactions of 11,821 shares valued 55.2mn/- traded at prices ranging from 4,660/- to 4,740/- per share in eleven deals, followed by NICO counter, which transacted 10,522 shares valued 6mn/- traded at a weighted average price of 575/- per share in 20 deals.
The daily market report shows that a total turnover amounting to 1.23bn/- was recorded on Monday, following the transaction of 2.33 million shares traded in 190 deals. All shares were sold by local investors and bought by a mix of both local and foreign investors.
After days of selloff, foreign investors emerged during the opening day of the week by buying shares valued 1.68mn/-, which accounted to 0.14 percent of total value of shares bought.
Since the start of this quarter, a total turnover of 34.6bn/- has so far been recorded, of which foreign investors have bought shares valued 1.1bn/- or 3.41 percent of total value of shares bought and they have sold shares valued 18.2bn/- or 52.8 percent of total value of shares sold.
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