Tanzania: Profit Falls, but Deposits Grow – Africa Investment News
Home / Uncategorized / Tanzania: Profit Falls, but Deposits Grow

Tanzania: Profit Falls, but Deposits Grow

Dar es Salaam — The I&M Bank Ltd net profit slowed to Sh4.8 billion in 2017, lower than Sh5.4 billion recorded during the previous year. The bank’s audited statement for the year ended in December 31, 2017 total deposits grew by 7.3 per cent from a shrink of 1.4 per cent in 2016 although assets fell by 4 per cent last year from the later.

However, the banks’ NPLs totalled Sh27,507 million compared to the corresponding year when their NPL was Sh16,144 million, which is an increase of Sh9 billion.

Following the high NPL records last year, the bank also reported that 8.47 per cent of their gross loans were NPL compared to the corresponding year when only 5.32 per cent of gross loans were NPL. (Janeth Muhizi).

Check Also

Nigeria: Lack of Compliance Responsible for Influx of Sub-Standard Goods – SON

Citing challenges at the nation’s ports and borders as well as lack of compliance to …

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!