Bank M, the fastest growing bank in the country, has shown interest on listing on Dar es Salaam Stock Exchange main market.
According to our source the bank showed interest on listing at the bourse but was yet to file a formal application.
According to our source the bank showed interest on listing at the bourse but was yet to file a formal application.
“They have only shown interest but are yet to submit a formal application,” she said. “I could be in a better position to comment further when the bank submits an application.”
Bank M’s quarter-one financial results shows that earning per share went down by over a half to 130/- from 353/-, despite a profit increase at end of March.
The declining of the earning per share, amid a hefty profit, is seen as a preparation for the listing of the bank by diluting its share ahead of IPO.
Bank M’s quarter-one financial results shows that earning per share went down by over a half to 130/- from 353/-, despite a profit increase at end of March.
The declining of the earning per share, amid a hefty profit, is seen as a preparation for the listing of the bank by diluting its share ahead of IPO.
The bank in the first quarter of this year posted a robust pre-tax profit increase by 48.4 per cent to 6.13bn/- compared to 4.13bn/- of similar quarter 2014.
Nevertheless, analysing the bank financial results shows it need to recapitalize as deposit gross loans and advances to total deposits is well above the recommended ratio.
The Bank of Tanzania’s regulatory ratio is 80 per cent but Bank M loans to total deposits stands at 92.3 per cent as at the end of March.
Reports from Nairobi, Kenya say Bank M has acquired a majority stake in Oriental Bank of Kenya. The bank was looking into a possibility to enter the Kenyan market in the recently years.
The bank is a mediumsized financial services provider, offering financial services to individuals, small to medium enterprises, and large corporations. As of June 2013, the bank’s total asset base was valued at about 728.05bn/-.
Nevertheless, analysing the bank financial results shows it need to recapitalize as deposit gross loans and advances to total deposits is well above the recommended ratio.
The Bank of Tanzania’s regulatory ratio is 80 per cent but Bank M loans to total deposits stands at 92.3 per cent as at the end of March.
Reports from Nairobi, Kenya say Bank M has acquired a majority stake in Oriental Bank of Kenya. The bank was looking into a possibility to enter the Kenyan market in the recently years.
The bank is a mediumsized financial services provider, offering financial services to individuals, small to medium enterprises, and large corporations. As of June 2013, the bank’s total asset base was valued at about 728.05bn/-.
Source: Daily News, reported from Dar es Salaam, Tanzania
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