Listing of Mwalimu Commercial Bank (MCB), on Dar es Salaam Stock Exchange (DSE), is slated for next week. DSE officials and brokers said listing would be done next week for more convenience, since tomorrow the nation was going to celebrate the swearing in of the new president. The listing comes after successful primary offer that
Equity Bank Tanzania has posted net profit of 5.03bn/- in the year ended September 2015 compared to 1.52bn/- registered in the previous year. Also; the bank posted 1.14bn/- profit in the quarter ended September 2015 compared to 531m/- posted in the corresponding quarter 2014. Similarly, Equity group holdings limited has posted net profit of 256bn/-
The Co-operative Bank of Kenya has partnered with SimbaPay, a digital money transfer provider, to offer international money transfer services to the bank’s customers in the Diaspora. Co-operative Bank accounts receiving the funds will be credited instantly. The service is currently available for the UK-Kenya remittance corridor only and will be expanded to cover more countries
CRDB Bank posted a net profit of 38.57bn/- from its operations during the third quarter (July-September) of this year, up from 31.25bn/- recorded at the same period last year. The bank described the performance as historic success. The bank’s cumulative profit for the nine months of this year surpassed the entire net earnings of last
Standard Bank Group has expanded its already extensive East African footprint with the official opening of a representative office in Ethiopia. This means that Standard Bank, which is Africa’s largest bank by assets, has a continent-wide footprint in 20 African countries. The representative office, which is based in Addis Ababa, was opened by Standard Bank
Standard Bank Group, which trades as Stanbic Bank in Tanzania, and Africa’s leading bank by assets, collected 22 awards in Finance’s Treasury Services and Global Finance’s World’s Best Bank Awards for 2015. The firm said in a statement that the awards were presented at the Sibos conference in Singapore. Mr Hasan Khan, Standard Bank’s Head
President Jakaya Kikwete has inaugurated 65 million US dollars (140bn/-) worth state-of-the-art National Microfinance Bank (NMB) building and pledged continued government support to the bank’s efforts to promote financial inclusion. The modern building with capacity to accommodate over 1000 staff, modern rooms, canteen to cater for all staff and modern private bank proves the solidity
Deutsche Bank and Ecobank Nigeria LTD announced the signing of a Memorandum of Understanding (‘MOU’) to expand their trade finance relationship. Under the terms of this MOU, Deutsche Bank will provide export credit guarantee program GSM-102 to Ecobank Nigeria. The Bank’s offering of a GSM-102 program will guarantee credit to encourage financing of commercial exports
FNB Islamic Banking is proud to announce that its Chief Executive Officer, Amman Muhammad, has been awarded the prestigious “Upcoming Personality in Global Islamic Finance – 2015” award and title at the Global Islamic Finance Awards (GIFA) 2015 gala event that was held in Manama, Bahrain recently. The GIFAs recognise and celebrate the success and
First National Bank (FNB) Tanzania has asked Tanzanians to cultivate the culture of saving that provides significant source of capital and a tool to alleviate poverty. “Saving is an important tool that can provide variety of benefits to both an individual and the nation as source of capital and investment,” said the FNB Head of
