Bank gross profit up 9pc

Tanzania Cigarette Company Ltd (TCC) has reported a 9.2 per cent decline in profit after tax mainly due to higher operating costs.

Bank M’s net profit for the second quarter of the current calendar year went up by 9.375 per cent compared to a similar quarter in 2013, latest financial figures show.

DCB Commercial Bank has said it expects to increase profit after tax to Sh4 billion this year from Sh3.8 billion posted last year.

Exim Bank registered a pretax profit of Sh6.4 billion during the first three months of this year – a 42 per cent increase compared to a similar period in 2013.

Exim Bank Tanzania Chief Finance Officer, Mr. Selemani Ponda (Centre) briefs journalists at a news conference to announce the bank’s financial results for the first quarter of 2014 in Dar es Salaam Looking on is Head of Treasury, Mr. George Shumbusho (first left) and Seniour Finance Manager, Mr Issa Hamisi (first right). The EXIM Bank Group 1st quarter (Q1) 2014 pretax profit rose by 42% to TZS 6.4 billion from the same period last year as per recently published results.
“We are pleased...

The profit before tax for the Kilimanjaro-based Mwanga Community Bank Limited (MCBL) rose by 197 per cent in 2014 on the back of increased interest income amid tightened spending, the bank has said.

 Bank M closed 2014 with a pretax profit of Sh20.1 billion on a mix of earnings from interests on lending foreign currency as well as fees and commissions, it was announced

Equity Bank’s net profit rose by 230.9 per cent during the year ending September 2015 as the financial entity steps up efforts to reach the unbanked segment of the population.

In the 2005/06 financial year, the Govt of Tanzania lost about $131m from the External Payment Arrears (EPA) account held at the central Bank of Tanzania (BoT) in what was seen as ‘dubious payments’ to local companies. [Basel Institute on Governance: 2007].