Akiba Bank targets 3bn/- profit

The Akiba Commercial Bank (ACB) targets a net profit of 3bn/- from its operations during this year, up from 1.6b/- recorded in 2012.
Addressing ACB staff during the New Year party in Dar es Salaam over the weekend, the Managing Director, Mr John Lwande, said his bank was also planning to open branches in two regions in 2013. 

“Our 2013 vision is to open a new branch in Dodoma and Mwanza regions next month,” said the managing director.

He said the bank has 15 branches including Arusha, Moshi, Kijitonyama, Ubungo, Kariakoo, Buguruni, Tegeta, Kinondoni, Mbagala, Aggrey, Tandale, Temeke, Ilala, Ukonga and the main along Ohio street in Dar es Salaam. 

Mr Lwande hailed the staff for their commitment in 2012 and he urged them to maintain the spirit for better achievements.

The bank posted a net profit of 390m/- for the year ended, September 2012, compared to 83m/-generated in September 2011. The New Year party also witnessed certificates plus cash prizes to ten best employees of the year at the bank.

Akiba Commercial Bank Plc (ACB) commenced banking operations in August 1997 as an initiative of over 300 Tanzanian entrepreneurs who were inspired to venture into micro-finance, by the moral and economical concern for the plight of Tanzanians.
Source: The Daily News, www.dailynews.co.tz, reported by Ludovick Kazoka in Dar es Salaam 
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