Mr Mkwawa |
The DCB Commercial Bank Limited has
increased its capital from 15bn/- to 28.2bn/- in accordance to the Bank
of Tanzania (BoT) regulations.
According to the Bank’s Board Chairman, Ambassador Paul Rupia,
the performance in mobilising the bank’s capital has also enhanced the
shareholding structure of the Anchor Shareholders to 37.1 per cent
compared to the previous 32.6 per cent.
Amb. Rupia said out of 38.5 million
shares issued under the programme, a total of 29.2 million shares have
been subscribed and allotted to respective shareholders fetching into
the share capital a total 11.1bn/- compared to the intended collection
of 14.6bn/-.
The bank now intends to start the
implementation of its operations as a fully fledged commercial bank.
The
bank’s Managing Director, Mr Edmund Mkwawa, said by the end of this
year two more branches, one in the city centre and another in Tabata
Makuburi in Kinondoni Municipality will be opened, making total eight
branches in Dar es Salaam alone.
He said the bank anticipates 2013 will
be a good business year as it targets to make 4bn/- net profit compared
to 2.1bn/- recorded last year.
“Last year we managed to serve our
customers well despite stiff competition and dished out loans amounting
to 69bn/-, 40 per cent of them going to salaried staff,” he said.
Future plans, according to Mr Mkwawa,
include introducing agency banking, mortgage financing as well as
dishing out medical materials worth 9m/- to paediatric units in selected
hospitals, in line with the bank’s Corporate Social Responsibility
(CSR) programme.
Source: The Daily News, www.dailynews.co.tz, reported by Pius Rugonzibwa in Dar es Salaam
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