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Exim Bank boasts profit growth
2008-04-14 09:29:26
By Correspondent
The Managing Director of Exim, Sabetha Mwambenja has said that during its 10 years of existence, Exim has enjoyed year-to-year growth in profits, assets and deposits.
As of December 31st 2007, Exim saw improvements in all key financial performance indicators.
The Bank recorded Tshs. 12.13 billion before tax and provision and Tshs. 8.6 billion after tax and provisions.
The deposit base increased to Tshs. 296.0 billion with a loan portfolio of Tshs. 162.2billion; while its assets base grew to Tshs. 376.7billion, she said.
``We thank our customers for their continued business support. We also express our gratitude for the support accorded by the Bank of Tanzania, the Government, our business partners, especially the International Finance Corporation-IFC (the commercial arm of the World Bank and PROPARCO (the French Financial Agent, which supports small and medium entrepreneurs (SMEs) especially in the developing countries), our Correspondent Banks such as HSBC, Deutsche and PTA and the business community of Tanzania in general,`` she added.
She said Exim was now among the large Banks category and ranked within the top nine Banks in Tanzania. Exim Bank started its operations with only one branch.
Today the Bank has expanded its branch network to eleven (11) fully-fledged branches; these branches are Dar es Salaam Main, Clock Tower, Hill Park, Temeke, Mtwara, Arusha, Mt. Meru, Tanga, Morogoro, Mwanza and Moshi.
All Exim branches are online connected via an exclusive V-SAT to ensure instant transfer of funds from one branch to another.
Exim Bank plans to keep opening braches in the country and abroad in order to serve more and more customers. In the next two years we expect to open 10 more branches in Tanzania.
Exim is one of the fastest growing banks in the country and the first local Bank to go international by opening a subsidiary in the Comoros (Exim Bank (Comoros) Limited.
In August 15, 2007, the Bank celebrated its 10 years of existence with pride.
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