KCB half-year profit is more than the combined profits of top ten Banks in Tanzania

KCB half-year profit is more than the combined profits of top ten Banks in Tanzania

Saint Ivuga said:
Do you know that we have many KCB branches im TAnzania?
I have an active acc at KCB.
My company as well.

Kwa hio unatushauri tufumge acc zetu tuhamie crdb?
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Kwa hivyo inaonekana wewe ni mdosi Saint Ivuga? Hehe
 
Tony254 said:
Serikali ya Kenya ni kichwa ngumu lazima isukumwe kwa makofi ndio ikubali kutoa pesa. Tumeizoea. Lakini mwishowe huwa wanalipa tu.
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Nilitaka nimjibu vivyo hivyo tu, ila umelisema ilivyo, ni kama umeyasoma mawazo yangu, ahsante kwa kuntaarif mkuu.
shukran jazilan.
 
Geza Ulole said:
Can u tell us of KCB Kenya and not KCB Group with subsidiaries! Then the figures for Exim bank Tanzania r wrong in 2014 Exim Bank made a profit of over Tshs 20 bln!

Exim bank profit in 2014
EXIM Bank Group, with operations in Tanzania and subsidiaries-Comoros and Djibouti has hit profit mark of TZS 20 billion as per recently signed audited results for 2013. This reflects 21% increase from TZS 16.5 billion reported last year.

The Bank’s balance sheet grew by 18% from TZS 967 billion to cross a 1Trillion mark @TZS 1.14 Trillion, the fifth largest in Tanzania. Customer deposits grew modestly by 11% from TZS 723 billion to TZS 804 billion following a strategic decision to focus on low cost deposits. Loan and advances portfolio recorded a growth of 23% from TZS 455 billion to TZS 559 billion, with disbursements well diversified to all sectors of the economy. Further, increase in value of investments available for sale and business profit resulted to a significant growth of the shareholders’ fund by 43% from TZS 109.4 billion to TZS 157 billion.

The Exim Bank CFO, Mr. Selemani Ponda said that the impressive results and the on-going performance improvement demonstrated further potential growth of the Bank.

“Last year we aggressively implemented growth strategies through mobilization of low cost deposits and operational efficiency that ensured customer satisfaction”, said the CFO.
He added, “As a result of these strategies, fee-based income recorded a significant growth of 33% from TZS 22.8 billion last year to TZS 30.4 billion.”

The International Business demonstrated marked improvement with a strong performance of 26% pre-tax profit growth year on year of Exim Bank Comoros to TZS 3 billion, thus contributing 15% to the Group profit. The other subsidiary, Exim Bank Djibouti which was opened late 2011 showed improved business performance, and expects to breakeven in 2014.

“It's further heartening to mention that post a very healthy performance by Exim Bank Comoros during the year 2013, the Subsidiary declared a dividend equivalent of TZS 2 billion to be received by the parent Exim Bank Tanzania during the current year 2014,” stated Mr. Selemani.

During the year, net interest income grew by 1% from TZS45 billion to TZS 45.4 billion. Foreign exchange income posted a significant growth at 73% from TZS 4 billion to TZS 6.9 billion while other fees and commission recorded an increase of 24% from TZS 17.7 billion to TZS 22 billion.

“We are excited with this trend in our performance reflecting growth in all our business segments. Our total operating income increased by 12% from TZS 67.7 billion to TZS 75.8 billion,” said the CFO, Mr. Selemani Ponda.

“Total Operating expenses also went up by 17.8% from TZS 45.5 billion to TZS 53.6 billion attributed to new branches establishment costs and staff benefits in the efforts to widen geographical coverage and strengthen the Bank’s foundation. However, the cost to income ratio maintained at same level @ 73%” he added.

As the result of recovery efforts and continued monitoring, the quality of the loan book significant improved during the year, where gross Non-performing assets to total gross loan ratio dropped from 14% to 9%.

With a good profit posted during the year, the Return on equity (ROI) improved by 120 basis points from 15.21% to 16.41%.

As it aspires to offer international standards banking services, the Bank scooped overall winner of top customer focused banks in Tanzania out of about 52 banks operating in Tanzania.

Further, the training centre-“Exim Academy” got ISO certification in an endeavor to manage talents as well as part of staff retention strategy.
With opportunities in the economy, the Bank envisages great growth potentials in the future. In the recent 3-year strategic revalidation process carried out, the Bank will focus on continuous customer service improvements through pre-eminent payments and transactions banking in order to remain a preferred Bank for businesses.

In conclusion the CFO said “The plan for 2014 is to continue streamlining operations efficiency by centralization of back office and automation solutions through alternative channels”.

Exim%20Bank%20hits%20TZS%2020%20billion%20profit%20mark%20-%2001.jpg

Exim Bank Tanzania Chief Finance Officer Mr. Selemani Ponda(Second left) addresses a press conference to announce the bank’s financial performance for the year ended December 2013 in Dar es Salaam yesterday. The bank’s net profit increased by 21 per cent, giving them 20 Billion. Looking on is Head of Risk and Compliance Mr. David Lusala (Left), Head of Treasury George Shumbusho (Third left) and Senior Finance Manager Issa Hamisi (Right). (Photo by our correspondent).

Exim%20Bank%20hits%20TZS%2020%20billion%20profit%20mark%20-%2002.jpg

Exim Bank Tanzania Chief Finance Officer Mr. Selemani Ponda(Second left) addresses a press conference to announce the bank’s financial performance for the year ended December 2013 in Dar es Salaam yesterday. The bank’s net profit increased by 21 per cent, giving them 20 Billion. Looking on is Head of Risk and Compliance Mr. David Lusala (Left), Head of Treasury George Shumbusho (Third left) and Senior Finance Manager Issa Hamisi (Right). (Photo by our correspondent).

Exim%20Bank%20hits%20TZS%2020%20billion%20profit%20mark%20-%2003.jpg

Exim Bank Tanzania Chief Finance Officer Mr. Selemani Ponda(Second left) addresses a press conference to announce the bank’s financial performance for the year ended December 2013 in Dar es Salaam yesterday. The bank’s net profit increased by 21 per cent, giving them 20 Billion. Looking on is Head of Risk and Compliance Mr. David Lusala (Left), Head of Treasury George Shumbusho (Third left) and Senior Finance Manager Issa Hamisi (Right). (Photo by our correspondent).

Exim%20Bank%20hits%20TZS%2020%20billion%20profit%20mark%20-%2004.jpg

Exim Bank Tanzania Chief Finance Officer Mr. Selemani Ponda(Second left) addresses a press conference to announce the bank’s financial performance for the year ended December 2013 in Dar es Salaam yesterday. The bank’s net profit increased by 21 per cent, giving them 20 Billion. Looking on is Head of Risk and Compliance Mr. David Lusala (Left), Head of Treasury George Shumbusho (Third left) and Senior Finance Manager Issa Hamisi (Right). (Photo by our correspondent).

Published: Monday 5th May, 2014

Exim Bank > About Us > Awards and Achievements > HITS TZS 20 BILLION PROFIT MARK.
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2014 and 2020 are two different things.
 
Tony254 said:
Serikali ya Kenya ni kichwa ngumu lazima isukumwe kwa makofi ndio ikubali kutoa pesa. Tumeizoea. Lakini mwishowe huwa wanalipa tu.
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Hapa mkuu unakera Wakenya wenzio wasiopenda kukubali mapungufu.
 
The best 007 said:
Hapa mkuu unakera Wakenya wenzio wasiopenda kukubali mapungufu.
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Kwani wewe huwa unakuja JF na kuhakikisha kuwa kila kitu ulichoandika hakitawaudhi Watanzania wenzako? Learn to be independent minded. Usiwe unafuata upepo kila wakati, saa zingine simama na ukweli.
 
Tony254 said:
Nimekuelewa. Huku Kenya mdosi inamaana tofauti kabisa. Mdosi ina maana ya tajiri mkubwa.
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Ukiangalia kwa kiasi fulani utaona maana inafanana, matajiri wengi zamani Tanzania walikuwa na asili ya India (hence wadosi).
 
For some of us who know a little bit of economy can’t compare Kenya and Tanzanian economy because Kenya by far has bigger economy than Tanzania. The economy is normally driven by volume of business, if in Tanzania total port throughput is less than half of total port throughput in Kenya, which criteria do we use to compare these two counties.

Some of us who haven’t been in Kenya can just argue without any supporting figure, this has been the case. I remember just last month there was argument on the revenue collected by KRA and TRA, when the revenue figure was published the revenue collected by TRA was less than half of the revenue collected by KRA for the same period.

Putting up more arguments on comparison of the economy of these two countries one should be made, a person with good mind will never think such argument is worth putting up an more.

Why can’t we pick other things that are cooperative unlike the economy that is so obvious that one is still underdog.
 
I remember in the late 90's- early 00's a family "friend" bought shares in KCB and NIC bank and people where asking him why he was wasting money on such low return investments.

Needless to say the same people now look at him as a genius.

NB. The EA countries are merging to trade shares of cross listed companies which are mostly Kenyan or based in kenya. That alone is evidence that some of these Kenyan companies have no equal in this region.
 
mhanila1 said:
For some of us who know a little bit of economy can’t compare Kenya and Tanzanian economy because Kenya by far has bigger economy than Tanzania. The economy is normally driven by volume of business, if in Tanzania total port throughput is less than half of total port throughput in Kenya, which criteria do we use to compare these two counties.

Some of us who haven’t been in Kenya can just argue without any supporting figure, this has been the case. I remember just last month there was argument on the revenue collected by KRA and TRA, when the revenue figure was published the revenue collected by TRA was less than half of the revenue collected by KRA for the same period.

Putting up more arguments on comparison of the economy of these two countries one should be made, a person with good mind will never think such argument is worth putting up an more.

Why can’t we pick other things that are cooperative unlike the economy that is so obvious that one is still underdog.
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The best 007 joto la jiwe someni huyu Mtanzania mwenzenu anayejifahamu.
 
mhanila1 said:
For some of us who know a little bit of economy can’t compare Kenya and Tanzanian economy because Kenya by far has bigger economy than Tanzania. The economy is normally driven by volume of business, if in Tanzania total port throughput is less than half of total port throughput in Kenya, which criteria do we use to compare these two counties.

Some of us who haven’t been in Kenya can just argue without any supporting figure, this has been the case. I remember just last month there was argument on the revenue collected by KRA and TRA, when the revenue figure was published the revenue collected by TRA was less than half of the revenue collected by KRA for the same period. Putting up more arguments on comparison of the economy of these two countries one should be made, a person with good mind will never think such argument is worth putting up an more.

Why can’t we pick other things that are cooperative unlike the economy that is so obvious that one is still underdog.
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In which perspective do you look at the word economy? GDP numbers? Government efficiency in performing its obligation to its citizens? If the former is the case, what about debt to GDP ratio? Can GDP act as a good defn of bigger economy while at the same time the country's debt to GDP ratio rises to red ink?

Don't you believe that GDP is just a number? If u don't just look at the majority citizens style of living and then go through making a comparison between Tz and Kenya.

And if the latter is the case, what about these two countries Govt efficiencies? The one can't even satisfy its citizens with food, so do you still believe that GDP is the good factor to make a comparison? What does it mean?

Btw, you started by rating yourself that you know a little bit of economy so it admits of no doubt that you are somehow a layman of economy.
 
Teargass said:
Watu wa Uchumi ya Kenya inaporomoka wamepotea wapi tena?
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Kwaiyo Benki moja ndyo inawakilisha uchumi wa nchi au inadetermine overall Kama nchi haianguki.

Ishu hapa s Kenya kuporomoka ishu n kua Tanzania inakua so fast na unakuja kuovertake Kenyan economy
 
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