{"id":18113,"date":"2020-11-06T17:53:41","date_gmt":"2020-11-06T17:53:41","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=18113"},"modified":"2020-11-06T17:53:41","modified_gmt":"2020-11-06T17:53:41","slug":"crdb-twiga-shares-appreciate-mostly-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year","title":{"rendered":"CRDB, TWIGA SHARES APPRECIATE MOSTLY THIS YEAR"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> CRDB Bank and Twiga Cement are the only listed firms whose shares appreciated in the last 10 months by a handsome margin.<\/p>\n

The two listed firms, which lead in their respective industries, have, so far, posted good financial performance this year.<\/p>\n

The two, outshine 21 other firms, of which one-third of their shares depreciated and remaining stagnated.<\/p>\n

CRDB, the leading bank, its share has appreciated by 89.47 per cent from 95\/- in January to 180\/- on Thursday.<\/p>\n

Twiga Cement, listed as Tanzania Portland Cement, its share gained by 32 per cent from 2,500\/- to 2,640\/-.<\/p>\n

For the year ending September, CRDB Bank reported a 31-per cent jump in aftertax profit, signalling a return to vibrancy in the market and assisted to push share gains.<\/p>\n

During the quarter, the group after-tax profit jumped 31 per cent to 120bn\/- compared to 92bn\/- reported in the same quarter last year.<\/p>\n

CRDB Group CEO and Managing Director Abdulmajid Nsekela attributed the sustained positive growth to proactive strategies that have steered the lender in the wake of an unprecedented pandemic that has adversely impacted various sectors of the economy.<\/p>\n

\u201cWe have not relented in our quest to pursue economic transformation because we know that despite challenges in the market, our resilience is what will make a difference,\u201d Mr Nsekela said.<\/p>\n

Twiga also reported a 33- per cent year-on-year increase in net profit to 34.94bn\/- in the first half of this year against 26.19bn\/- in the previous half.<\/p>\n

\u201cDespite strong competition in the cement manufacturing industry and uncertainties brought about by Covid-19, [we] delivered a strong operational result compared to [last year],\u201d said Hakan Gurdal, Twiga Chairman.<\/p>\n

The company also saw a 13-per cent rise in revenue to 181.45bn\/-.<\/p>\n

\u201c[We are] well-positioned to meet this growing demand and will continue working to maintain [our] market leadership and position,\u201d Mr Gurdal said.<\/p>\n

Orbit Securities Head of Research and Analytics Imani Muhingo said CRDB Bank was trading less than 50 per cent of its book value to attract more investors.<\/p>\n

\u201cCRDB Bank is much undervalued while NMB Bank is overvalued,\u201d Mr Muhingo said adding: \u201cAlthough book value per share isn\u2019t a good gauge for banks of their balance sheet setup it still gives a good indication.\u201d<\/p>\n

The economist said the price of CRDB Bank was flexible, while NMB Bank had remained \u201cstagnant for almost two years now\u201d.<\/p>\n

Other listed lenders such as NMB Bank share traded flat at 2,340\/- since the beginning of the year, despite its superb performance in second and third quarters.<\/p>\n

DCB, another listed bank at main market, its share dropped by 10.16 per cent in the last 10-month to 265\/- on Tuesday from 295\/- in January.<\/p>\n

While, Maendeleo Bank, also at the main market, stagnated at 490\/-.<\/p>\n

Those listed on alternative market\u2014Enterprise Growth, Mkombozi Bank, Mwalimu Bank, MuCoBa and Yetu Microfinance their share prices stuck at the same level in the last 10 months at 780\/-, 500\/-, 400\/- and 550\/- respectively.<\/p>\n

Likewise, Tanga Cement, trades as Simba, its share dropped by 16.67 per cent to 500\/-, Swissport by 26.25 per cent to 1,600\/-, DSE 10.20 per cent to 880\/- and Vodacom 9.45 per cent to 740\/-. Others with TCCIA Investment Company 9.09 per cent to 350\/-, TOL Gasses 8.33 per cent to 550\/- and Nicol 2.86 per cent to 170\/-. While, TBL, TCC, Tatepa and Swala share stagnated at 10,900\/-, 17,000\/-, 120\/- and 490\/- respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: CRDB Bank and Twiga Cement are the only listed firms whose shares appreciated in the last 10 months by a handsome margin. The two listed firms, which lead in their respective industries, have, so far, posted good financial performance this year. The two, outshine 21 other firms, of which one-third of their shares depreciated […]<\/p>\n","protected":false},"author":84,"featured_media":18103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[277,272,4205],"class_list":["post-18113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-abdulmajid-nsekela","tag-crdb-bank","tag-twiga-cement"],"yoast_head":"\nCRDB, TWIGA SHARES APPRECIATE MOSTLY THIS YEAR - Tanzania<\/title>\n<meta name=\"description\" content=\"CRDB Bank and Twiga Cement are the only listed firms whose shares appreciated in the last 10 months by a handsome margin.The two listed firms\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRDB, TWIGA SHARES APPRECIATE MOSTLY THIS YEAR\" \/>\n<meta property=\"og:description\" content=\"CRDB Bank and Twiga Cement are the only listed firms whose shares appreciated in the last 10 months by a handsome margin.The two listed firms\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-06T17:53:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/11\/3ca3b3f8c94cf2655bb8828be4c0ab61.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"653\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CRDB, TWIGA SHARES APPRECIATE MOSTLY THIS YEAR\",\"datePublished\":\"2020-11-06T17:53:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\"},\"wordCount\":561,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/11\/3ca3b3f8c94cf2655bb8828be4c0ab61.jpg\",\"keywords\":[\"Abdulmajid Nsekela\",\"CRDB Bank\",\"Twiga Cement\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/crdb-twiga-shares-appreciate-mostly-this-year\",\"name\":\"CRDB, TWIGA SHARES APPRECIATE MOSTLY THIS YEAR - 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