CRDB Bank is planning to have its international operations contribute between 3-5 per cent of the net income as one of the bank’s target position by the year 2017. The bank’s profit for the year under review jumped to 84.4bn/- compared to 80.5bn/- registered in the previous year despite the increment of expenses due to
Exim Bank Tanzania Limited has embarked on implementing its Vision 2016 that seeks to double its balance sheet and increase market share in deposits by 2016. Being the sixth largest bank in the country in terms of total deposits and assets, Exim Bank has set its eyes on an ambitious target for the year 2016.
The National Bank of Commerce (NBC) has announced a gross profit of 14.3bn/- from its operations in the 2013 financial year, up from 3.9bn/- recorded in 2012. The profit posted represents an increase of 10.4bn/- compared to the 2012 results, representing a rise of a whooping 267 per cent. NBC said its net interest margin
The Tanzania Postal Bank (TPB) has posted robust growth of about 18 per cent in the year ended 2013, with its net profit jumping to 4.73bn/-, up from 4.07bn/- registered in the previous period. The bank has recorded high profit for the year despite making heavy investments in improving its branches, TPB POPOTE, establishment of
Total Tanzania customers are now set to pay for fuel through M-Pesa, following the company’s partnership with Vodacom Tanzania. Motorists will now make use of the companies’ widespread networks reliably, and will use mobile phone technological developments (M-Pesa) from acrossthe country. Speaking during the launch of the partnership, Vodacom Tanzania External Relations Manager, Salum Mwalim,
Tigo has partnered with 17 major banks in Tanzania to enable its clients send and receive money through transactions between the banks and Tigo Pesa. Launching the service in Dar es Salaam, the company announced that Tigo customers will now have round the clock ability to instantly withdraw and deposit funds via Tigo Pesa to
In a bid to back up government’s efforts in enhancing financial inclusion, the CRDB Bank has been investing heavily in expansion of its network to take services closer to customers. Tanzania recently launched the national financial inclusion framework to focus on priorities like payment platforms, infrastructure and consumer protection, with an overall goal of giving
Over half of Tanzania’s adult population currently have access to financial services compared to just 27 per cent in the year 2009, thanks to mobile phone money services which central bank boss Prof Benno Ndulu also describes as ‘electronic wallet.’ The improvement, which stands at 57 per cent of the population above 16 years old,
Exim Bank Tanzania has expanded its footprint in the Comoros by opening its fourth branch in Domoni (Anjouan), in a move designed to take services closer to customers in the islands. The Governor of Anjouan, Mr Anissi Chamsidine, who was the chief guest, at the inauguration at the weekend, commended Exim Bank for its efforts
The Tanzania Communications Regulatory Authority (TCRA) has commended continued technological growth in the country’s mobile phone industry. TCRA Managing Director, Prof. John Nkoma, said in Dar es Salaam: “This growth has so far done a great job in improving Tanzania’s economy, as well as social development.” Prof. Nkoma was speaking at an event that saw
