In a bid to boost export earnings, Stanbic bank has assured the business community of the availability of pre-export finance to facilitate smooth trade flow. Stanbic bank Head of Trade Finance Mr Charles Kapufi said in Dar es Salaam that lack of cost efficient trade finance has been a hindrance for exploiting economic and employment
As the old saying goes, do not work harder work smarter – the same can be said of the way in which you bank. We often unknowingly transact in a way that not only frustrates us but that takes up unnecessary time and wastes money that could have been put to use to cover other
Bank M said it is on the right track of realising its profit target of 25bn/- from its operations this year, after good performance during the first half, reflecting a bright future for the institution. The bank registered a pretax profit rise of more than 25 per cent to 11.51bn/-in first half of the year
United Bank for Africa (UBA) Plc has introduced a simple, convenient and hassle free process for customers of the bank to submit their Biometric Verification Numbers (BVN). Leveraging on its robust information technology infrastructure, on Monday July 6, 2015 the bank launched a short code number *919*6# through which customers can send their BVN. “The
After five years of laying down the groundwork, the National Bank of Commerce (NBC) has finally started giving out loans through its Islamic Banking Window, it was announced. The bank officially started issuing Shariah-complaint loans — under its five-year old Islamic Banking Window — six months ago, Business Development Manager, Mr Eddy Mhina said at
TIB Development Bank that has been licensed by the Bank of Tanzania (BoT) to carry out banking business as TIB Corporate Finance Limited is still running short of capital to finance all development projects. The BoT has issued two licences to TIB Development Bank Limited and TIB Corporate Finance Limited, which is a designated Commercial
Parliament passed the Tanzania Postal Bank (TPB) (Repeal and Transitional Provisions) Act, 2015 which paves the way for the bank to transform and reclaim its former glory. Deputy Minister for Finance, Mr Mwigulu Nchemba, told the House that the Act seeks to incorporate the bank under the Companies Act in line with the Banking and
CRDB Bank expects another robust performance in the second quarter of the year thanks to a recent expansion drive and business mix portfolio, the bank’s Managing Director, Dr Charles Kimei, has said. CRDB bank posted a net profit of some 37bn/- in the first quarter, while assets climbed to 200bn/- to 4.4tri/-, which was the
Lack of access to affordable trade finance is holding back the economic and employment potential of African countries, says Stanbic Bank a member of Standard Bank. According to the African Development Bank’s (AfDB) recent report on trade finance in Africa, the conservative estimate for the value of unmet demand for bank-intermediated trade finance is between
The banking sector recorded a slightly drop in their non-performing loans (NPLs) one percentage point to 6.5 per cent on year-to-year basis at the end of March. The ratio, one of indicators to measure soundness of banking sector, shows that the rate is well below the East African bloc rate of 8.0 per cent, but
