TDB GROUP PRESIDENT AND MANAGING DIRECTOR ADMASSU TADESSE IS NAMED AFRICAN BANKER OF THE YEAR 2024
Media Contacts:
Trade and Development Bank Group
Anne-Marie Iskandar
Senior Communications Officer
Corporate Affairs and Investor Relations
Anne-Marie.Iskandar@tdbgroup.org
Nairobi, 31 May 2024 – This past Tuesday night in Nairobi, Kenya, on the sidelines of the African Development Bank Annual Meetings, the titans of the African banking and financial industry gathered at the prestigious African Banker Awards Gala Dinner, bringing an end to the annual competition.
It is with high appreciation and pride that the Eastern and Southern African Trade and Development Bank Group (TDB Group) is acknowledging the win of its Group President and Managing Director, Mr. Admassu Tadesse as African Banker of the Year.
Among the criteria the judges were looking at for this distinguished award, a pivotal factor was the demonstration of influential and inspirational leadership marked by outstanding integrity, a clear vision for one’s institution, coupled with an active dedication to advancing socio-economic empowerment and development.
Working with a committed board and a talented management team, Mr. Tadesse has led PTA Bank and its evolution into TDB, and subsequently TDB Group, which expanded into new and underserved markets, significantly increasing the institution’s assets and investor base. Under his stewardship, TDB Group achieved investment-grade ratings, and over the years, assets have grown approximately tenfold, with the investor base more than doubling to 48 shareholders.
Under Tadesse’s leadership, TDB Group has extensively expanded its strategic partnerships and funding sources, and rolled out several strategic business units and subsidiaries. These include the likes of the Trade and Development Fund (TDF), the Group’s concessional and grant window, TDB Asset Management (TAM) and the ESATAL fund management company to deepen reach and impact, TDB Captive Insurance Company (TCI) to streamline risk management, as well as TDB Academy, the Group’s capacity-building arm. Among other impacts, these entities have bolstered the Group’s capacity to support SMEs, women, and vulnerable sectors, contributing to the Group’s impressive financial performance.
In 2023, TDB Group’s total assets grew by 21% surpassing the USD 10 billion mark and its profits by 11% to USD 230 million, with non-performing loans at less than 4%, and investment grade ratings affirmed, reflecting the Group’s continued strong financial health and its resilience and robust risk management.
Tadesse’s tenure is equally marked by a robust focus on environmental, social, and governance (ESG), its commitment to the global development agenda, and championing gender representation within TDB, where 44% of staff and 54% of jobs supported by TDB projects are held by women.
TDB Group’s President and Managing Director, without a doubt, inspires a culture of innovation that makes TDB Group stand out in the industry, with at its heart the agility to continuously reform and improve operations, as well as through it all, an awareness around the importance of walking the talk, and delivering on a consistent basis a good performance and significant development impact, including during difficult times. Some examples include spearheading the creation of Class B shares for institutional investors and launching climate and SDG-aligned Class C Green+ shares at COP27, which in 2023 mobilized USD 30 million, underscoring the Group’s commitment to green finance.
Notable achievements in 2023 and 2024 include its countercyclical work to contribute to food and energy security in the region, its financing of renewable energy, infrastructure and integration to value chains, while growing its capacity to do more on the climate front with the launch of the Group’s Climate Finance Strategy – highlighting TDB Group’s commitment to addressing both immediate needs and long-term sustainable impact.
Tadesse’s leadership has been widely recognized, earning TDB Group multiple accolades over the years from established industry award competitions, celebrating the Group’s commitment to sustainability, project and trade finance impact, innovation and much more. Tadesse is as well the recipient of several industry distinctions and awards, and second time winner of African Banker of the Year.
About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 billion, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.
TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Group Asset Management (TAM), Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
