Dar es salaam Commercial Bank (DCB) has announced impressive performance registered in the last ten years. The trend promises to sustain record achievements and continue to meet the expectations of its clients.
The announcement was made over the weekend at the Dar es Salaam International Trade Fair (DITF) by DCB Managing Director, Edmund Mkwawa.
Speaking to a handful of reporters who visited the bank’s pavilion, DCB’s director said “the bank’s rate of growth has been promising over the last ten years...we expect it to go on…”
Only in December 2002, the bank had a total of only 12 141 clients who saved approximately 1.79bn/- the bank now boasts more than 200, 000 clients saving approximately 77. 9bn/-.
Since its establishment, according to the bank’s top official, DCB has registered an impeccable profit track record, paying its shareholders dividends up to 3.9bn/- for five consecutive years since 2006.
“DCB has contributed to the development of livelihoods of people in Dar es Salaam by offering 63.9bn/- in loans as of 30th June 2012 through its salaried loan scheme, individual micro loans, solidarity group lending and micro housing loans…´said the proud official. In 2002 only 999m/- was disbursed.
The bank’s solidarity group lending continued to be given priority, with 37.6bn/- disbursed to 120, 792 beneficiaries under the scheme, benefiting all three municipalities of Dar es Salaam.
The majority of the beneficiaries of the scheme, according to Mkwawa, were women, who have benefited from small loans, afforded them as working capital for their small businesses enabling them to meet their social and economic needs.
“A total of 2, 415 groups were established as of 30th June 2012 compared to 316 groups set up in the same month in 2005…” elaborated the director adding that the groups were established in all three municipalities, namely Ilala, Temeke and Kinondoni.
Following radical changes that affected the operations of the bank, coupled with a shift from its original status as Dar es Salaam Community bank to the now fully-fledged commercial bank, DCB has stepped up new strategies that will strengthen its status as a competitive commercial.
“Instead of confining ourselves to Dar es Salaam, we are now expanding our scope of operation across the country…in fact, we are determined and committed to providing quality and attractive services…” promised Mkwawa.
DCB chief appealed to Tanzanians, local government authorities, government leaders and businesses, to use their local banks for if we are to boost the country’s economic growth.