Funding

Funding

Net interest income grew at a compound annual growth rate (CAGR)12-17 of 20% fuelled by fast loan growth.

International Ratings

Baa3 (Stable): Upgrade to investment grade, Baa3, in October 2017 and affirmed in 2018, on the back of improving asset quality and structural improvements in risk management and loan origination processes over recent years which led to a decline in NPLs while solid loan and profit growth continued.

BB+ (Stable): Rating raised to BB+ stable from BB positive in October 2018, reflecting the Bank’s improved performance and capitalization.

BBB- (Stable); Local Currency: AAA (KE): Upgrade to investment grade, BBB-, in September 2017 with a stable outlook. TDB’s local currency rating was upgraded to AAA in 2016.

Resource Mobilisation

Capital markets activity

TDB has successfully issued local currency bonds in Tanzania, Kenya and Uganda, as well as in other international markets. Proceeds of bonds and notes are invested in the respective countries of issuance. All the bonds issued thus far have been listed on their respective Stock Exchanges, thereby enhancing their liquidity attributes.

Syndicated loan facilities

The Bank continued to pursue its funding strategy in 2017, whilst addressing the funding requirements for the year. As such, several funding initiatives were launched to raise medium to long-term funding for general corporate purposes with emphasis on regionally focused syndicated loans.

IssuedDue dateAmountFinancial InstitutionDescription
20182026USD 50 MillionCDCSupports the Banks’ Trade Finance & Project & Infrastracture business
20172020USD 237 MillionAsia Syndication 11Highlights the Bank’s strong investor relationships
20172019USD 332 MillionConventional & Islamic Dual Currency Syndicated Term FacilitiesFirst Middle Eastern focused transaction that also includes a debut Islamic facility
20162019USD 400 MillionDual Tranche Syndicated Term Loan FacilityFor repaying short-term facility and for the Bank’s trade financing activities
20162021USD 250 MillionExim ChinaSupports the Bank’s Trade Finance & Project & Infrastructure business
20152018USD 340 MillionAsia Focus Term Loan FacilityFirst syndicated loan arranged for an African DFI specifically targeted to Chinese & Taiwanese investors
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