On the other hand, TPB net interest climbed
up by over 37 per cent to 5.22bn/- thanks to the increase of loan
portfolio and customers’ deposits.
The non-interest revenue also increased
almost 10 per cent to 2.56bn/-. The bank’s loans and advances grew to
101.38bn/- from 94.28bn/- an increased helped by customers deposits that
went up to 138.17bn/- from 132.03bn/-.
The increase of the fund enables
the bank to flex its loaning portfolio and pushed up the level of gross
loans to total deposits to 71.39 per cent from 68.75 per cent.
However, the nonperforming loans to
total gross loans increased slightly to 3.74 per cent from 2.92 per
cent, but its well below the industry benchmark of five per cent.
Though
the bank profit went down slightly, the full last year net profit
increased by almost 50 per cent to 3.84bn/-.
TBP that is looking ahead to go public
once it gets a nod from the parliament, was established by the Tanzania
Postal Bank Act No.11 of 1991 as amended by Act No.11 of 1992.
The bank became operational as a
separate entity from the then Tanzania Posts and Telecommunications
Corporation (TP&TC) from March 1992 with its own board of directors
and management.
TPB was established as a successor to the Tanganyika
Post office Savings which was established by the Post Office Savings
Bank Ordinance of 1925 and became operational in 1927.
Source: The Daily News, www.dailynews.co.tz, reported by Abduel Elinaza in Dar es Salaam
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