Num­ber of DTB Tan­za­nia branches in­creases to 28

Lender widens reach tar­get­ing SMES with loans and key inan­cial ser­vices

Business Daily (Kenya) - - CORPORATE NEWS - Bd Cor­re­spon­dent in Dar es Salaam

Di­a­mond Trust Bank Tan­za­nia (DTB ) of­fi­cially opened its Mli­mani City branch early this week, bring­ing to 28 the to­tal num­ber of the lender’s out­lets across the coun­try.

The branch, lo­cated in the new wing of the Mli­mani City Shop­ping Com­plex, will of­fer bank­ing ser­vices for seven days in a week.

The deputy per­ma­nent sec­re­tary in the Min­istry of In­dus­try, Trade and in­vest­ment, Prof Rwe­gasira Buch­weishaija, com­mended DTB Tan­za­nia for its role in ex­tend­ing fi­nan­cial ser­vices in the coun­try.

“We do recog­nise the role and con­tri­bu­tion of DTB Tan­za­nia in the eco­nomic growth of this coun­try.”

DTB Tan­za­nia has an as­set size of more than TSH1 tril­lion. It em­ploys over 500 Tan­za­ni­ans. The lender is ma­jor a player in the small and medium-size en­ter­prises (SMES) seg­ment of the econ­omy.

The bank has is­sued loans of more than TSH284 bil­lion to SMES in trad­ing, man­u­fac­tur­ing, trans­port, hos­pi­tal­ity and con­struc­tion

sec­tors, ac­cord­ing to data pro­duced by DTB Tan­za­nia board chair­man Ab­dul Samji.

The SME loans rep­re­sent 44 per cent of the bank’s to­tal loan port­fo­lio.

In 2007, he said, had only four branches in 2007, lo­cated in Dar es Salaam, Mwanza and Arusha.

“How­ever, it cur­rently has a to­tal of 28 branches across ma­jor ur­ban cen­tres in the coun­try.

“The bank has also sig­nif­i­cantly im­proved its prod­uct of­fer­ing through in­no­va­tive sav­ings prod­ucts cov­er­ing all de­mo­graph­ics — chil­dren, youth, women and the el­derly.

We have prod­ucts for not­for-profit or­gan­i­sa­tions, busi­ness en­ti­ties and sole pro­pri­etor­ship,” said Mr Samji.

DTB Tan­za­nia is part of the Di­a­mond Trust Bank Group, a pan-east African bank with over 130 branches in Tan­za­nia, Kenya, Uganda and Bu­rundi.

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