The Standard Chartered Bank (Tanzania)
Limited has posted 50.74bn/- pre-tax profit in the year ending December
2012, up from 47.79bn/- recorded in 2011.
According to the Bank’s Financial
Statement, net profit jumped to 35.52bn/- in the period ending December
last year compared to 33.45bn/- registered in 2011.
The interest income
climbed to 85.62bn/- in the period under review compared to 58.15bn/-
recorded in the corresponding period of the year earlier.
However, the non interest income made a
slight decline to 50.19bn/- from 54.05bn/- registered in the year before
that could have been contributed by about 17.23 per cent fall of fees
and commission.
The total assets value edged up to 1.36tri/- in the
period under review compared to 1.34tri/- of the previous year.
During
the period, the bank recorded loans, advances and overdrafts worth
438.58bn/- compared to 576.71bn/- of the year before.
Also a total of 886.16bn/- was collected
as customer deposits while the registering a sum of 902bn/- in the
previous period.
Similarly, the bank’s non performing loans to total
gross loans are 5.5 per cent which is above industry benchmark of 5 per
cent.
Source: The Daily News, www.dailynews.co.tz, reported by Sebastian Mrindoko in Dar es Salaam
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