DTB opens branch at Mandela Expressway

DTB opens branch at Mandela Expressway

Sat Apr 25, 2015

THE Deputy Minister for Finance and Economic Affairs, Mr Adam Malima, has called upon financial institutions in the country to develop new products rooted in responsible and ethical business practices.

He made the call in Dar es Salaam at the inauguration ceremony of the Diamond Trust Bank (DTB) Nelson Mandela branch.

Mr Malima said that as the local banking sector was still evolving, the country was looking forward to even more banking products and services.

“DTB as one among the first growing banks in Tanzania offering a range of products, I am told it has focused on the development and growth of small businessmen, women and entrepreneurs, investing in developing a unique bouquet of product and services tailored at meeting financial needs of this segment,” said Mr Malima.

He said it was paramount that banks should take a proactive role in reshaping the SME banking space, providing a sustainable opportunity to unlock the potential of thousands small and medium enterprises across Tanzania.

“I have frequently underscored on the need for inclusion of rural sectors in conventional banking, but I am pleased that DTB has one of the largest banking networks among its peer banks.

The minister commended the bank’s commitment in 3-4 branch expansion consistently opened in every year because it has taken banking services closer to the people in urban and rural centres.

The Director of the Board at DTB, Mr Abdul Samji, pointed out that within a span of seven years the banks has managed to increase the branch network from 6 to 23 of which 13 branches are located in other parts of the country.

“DTB has had a growth of 44.5 per cent in customer deposit during 2014 posting record profits of 557bn/- over the previous year,” he said.

The bank has plans to open more branches in Singida, Kigoma and a second branch in Mwanza before the end of the year.

SOURCE: DAILY NEWS

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