The Latest

Mkombozi Commercial Bank 2015 Results Show 9% Interest Income Growth

February 1, 2016
1 minute read
mkombozi-commercial-bank-tanzania-mkcb-logo1

Mkombozi Commercial Bank (DSE: MKCB) has recently published is financial results for the quarter ended on 31 December 2015, showing a growth of 9. 1% of its Net Interest Income in 2015 with TZS 10,179 million compared to TZS 9,238 million in 2014.

This is mostly due the improvement in lending portfolio loans, explains Mkombozi CEO Mrs. Edwina Lupembe, increasing from TZS 50.8 billion in Q3 2015 to TZS 63.4 billion in Q4 2015, representing a growth of 24.8%.

Mkombozi bank has also increased the number of branches throughout Tanzania in 2015, reaching six with the latest additions of Moshi in August and Bukoba in December.

The bank closed 2015 with a net income after tax of TZS 618 million.

Mkombozi-commercial-bank-mkcb-results-q4-2015-1

Click here to download Mkombozi results for q4 2015: Mkombozi-commercial-bank-mkcb-results-q4-2015

Mkombozi Commercial Bank Plc (MKCB) started as an initiative of the Tanzania Epscicopal Coference to establish a commercial bank with the main objective of serving and supporting the emerging Tanzanian businesses for provision of financial services.

The bank listed at Dar Es Salaaam Stock Exchange (DSE) – Enterprise Growth Market – in Decembre 2014.

Tweet
Share
Share
Share
Related Posts
TANZANIA BOT NON-INTEREST ISLAMIC BANKING REGULATIONS
Read More

Tanzania Issues New Regulations for Islamic Banking Operations

The Bank of Tanzania (BOT) has issued new regulations establishing a comprehensive legal framework for Islamic banking and non-interest banking windows in Tanzania. The rules cover licensing, governance, Shari’ah compliance, financing structures, disclosure, and treatment of non-permissible income.
Tanzania Rwanda TIPS RSwitch cross-border instant payments
Read More

Tanzania and Rwanda Begin Linking National Payment Systems to Enable Instant Cross-Border Transfers

Tanzania and Rwanda have begun linking their national payment systems, Tanzania’s Instant Payment System (TIPS) and Rwanda’s National Payment Switch (RSwitch), to enable instant, low-cost cross-border transfers. The initiative, supported by the EAC and World Bank through the Eastern Africa Regional Digital Integration Project (EARDIP), advances regional financial integration and real-time payment connectivity in East Africa.