Commercial bank Mkombozi (MKCB), focused on supporting emerging Tanzanian businesses, posted positive financial results for Q1 2014.
Operating income before taxt at the end of March 2014 was TZS 565 million, compared to a loss of TZS 684 million at the end of March 2013.
Total assets was TZS 106 billion compared to TZS 63 billion while earning assets to total assets reached 80.9% from 78.86%.
Mkombozi Commercial Bank Plc (MKCB) started as an initiative of the Tanzania Epscicopal Conference in 2009.
Mkombozi Commercial Bank’s target markets are small and medium sized entrepreneurs, companies, Savings And Credit Co-operative, social enterprises such as schools, universities and corporations.
The bank is aiming currently at floating at Dar Es Salaam Stock Exchange (DSE) alternative market, known as the Enterprise Growth Market (EGM).
To learn more about Mkombozi Commercial Bank read TanzaniaInvest exclusive interview with its MD Mrs Edwina Lupembe: http://tanzaniainvest.com/banking-finance/interviews/777-lupembe-mkombozi-commercial-bank