Postal bank’s profit up by 48 per cent

Tanzania Postal Bank (TPB) last year posted a 5.6bn/- pre-tax profit, an increase of 48 per cent from 3.8bn/- registered in 2011.

Speaking at a press conference held at the bank’s headquarters in Dar es Salaam on Tuesday, TPB Chief Executive Officer, Sabasaba Moshingi attributed the achievements to effective management strategies, great products and good services that the bank offers.

He said the bank’s revenues increased to 31bn/-, up from 24.6bn/- recorded in 2011, an increase of 5.4bn/- or 22 percent increase. 

The number of TPB customers also rose by five per cent to 631,000 from 602,000. The CEO pointed out that there was an increase of 53 per cent in the bank loan portfolio to 100bn/- from the previous year’s 66bn/-.

“Tanzania Postal bank will continue improving service delivery especially in rural areas by using Mobile banking (TPB POPOTE) and POS (Point of Sale) technologies as well as its other agencies such as M-pesa, Airtel Money, Tigo Pesa and Postal offices,” said Mr Moshingi.

The bank aims at reaching rural customers by providing them with convenient and reliable banking services, said Mr Moshingi, adding: “We further plan to continue with renovating our branches, improving efficiency and effectively utilising TPB POPOTE as a means for financial inclusion.”

Source: The Daily News.www.dailynews.co.tz, reported from Dar 

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