Barclays Bank Tanzania existing and new customers with salary accounts with the bank stand a chance of winning up to 5m/- in its newly campaign dubbed ‘Switch’ to begin next month. The Product Manager of Barclays Bank Tanzania, Mr Valence Lutenganya, said in Dar es Salaam over the weekend that the campaign focuses on employed customers
Millicom, announced that Tigo Pesa, its Mobile Financial Services in Tanzania, has joined with WorldRemit, the London-based online peer to peer money transfer service. The partnership will enable the Tanzanian diaspora to directly send money to families and friends back home through their smartphones, tablets and computers. Announcing the launch in Dar es Salaam today,
Bank M Tanzania marks the eighth anniversary, registering tremendous success from its operations during the period, the firm announced. The bank’s assets currently stands at 809.09bn/-, which is equivalent to 2,509 per cent growth over the asset level at the end of the first year of the bank. Bank M’s Chief Executive Officer, Ms Jacqueline
CRDB right issue has been subscribed successfully by full amount thanks to three underwriters who bought the remaining amount. The bank in June 26, staged the right issue in a bid to raise slightly over 150bn/- to finance the firm’s expansion drive and meeting the regulator’s minimum core capital requirement. The bank’s shareholders bought 70.5
Uchumi Commercial Bank (UCB) has made a profit of 553.6m/- in 2014 and is geared to extend its services beyond Kilimanjaro Region. The UCB Board Chairman, Mr Wilson Ndesanjo, told the shareholders at their general meeting here that the achievement was great because in 2013 it registered a 399.3m/- profit. He said the projection was
Standard Chartered Bank Tanzania Limited has recorded a strong first half performance with a strong balance sheet growth and a revenue increase of 6 per cent year on year. The bank said in a statement that it has also increased its loans and advances to its clients by over 40bn/- which is a 6 per
National Microfinance Bank (NMB) has been recognised by Euromoney, the global financial markets magazine as one of the best bank locally and internationally for three years in a row. The Dar es Salaam Stock Exchange (DSE) listed bank has won the global prize after registering significant achievements within its operating environments. The NMB counter had
Large banks continued to make impressive profits in this year’s second quarter, with some capitalizing heavily on the shilling fluctuation. However, on the other hand, Barclays Bank and National Bank of Commerce (NBC) registered losses as a result of bad loans. The figures for second quarter for Barclays and NBC show that the two banks
The Bank of Tanzania (BoT) said that the USA’s Financial Crime Enforcement Network (FinCEN) final ruling will have an effect for the future of FBME Bank. The FinCEN recently ruled that FBME was linked to money laundering and that prohibits the US financial institution from opening or maintaining correspondent accounts or payable on behalf of
FBME, one of Tanzania’s largest commercial banks, has been cut off from accessing the US financial system on suspicions that the bank has facilitated money laundering, terrorist financing and organised crime. However, in an exclusive interview with the ‘Sunday News’ yesterday, the Treasury Registrar, Mr Lawrence Mafuru, allayed fears that the bank will cease to
