Bank’s pre-tax profit up 40pc

>National Media Group (NMG) pre-tax profit for the period ended June this year grew to Sh29.7 billion, being a 2.1 per cent increase from the same period last year.

Nation Media Group (NMG) on Thursday announced a 20 per cent rise in its dividend pay-out after it reported a Sh68.2 billion (KSh3.6 billion) profit before tax for the year ended December 2013.

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

A share of Mwalimu Commercial Bank Public Listed Company (Plc) appreciated by up to 40 per cent during the first day of trading at the Dar es Salaam Stock Exchange (DSE) in what analysts believe signifies that investors has high hopes over the new bank’s operations.

>Increased excise tax on tobacco products is hitting hard on the profitability of Tanzania Cigarette Company which recorded 20 per cent drop in the first half of 2014. TCC which is listed on the Dar es Salaam Stock Exchange recorded Sh35.3 billion as profit after tax for the six months ending June 30, 2014 compared to Sh44.3 billion it recorded in the same period last year, according to the firm’s financial statement.

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.

Exim Bank Group posted a Sh5.4 billion pre-tax profit during the third quarter of this year.

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.