| Bank generates Sh1.7bn profit | Send to a friend |
| Tuesday, 27 July 2010 22:00 |
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Bank M posted a profit after tax of Sh1.7 billion in the year ending July 2010 from Sh0.16 billion the similar period last year. Finance director Yahaya Mbanka told journalists in Dar es Salaam yesterday that total assets of the three-year-old bank had also grown from Sh42.3billion in the first year in 2008 to Sh107.6 billion in July 2009. The assets increased to reach Sh154 billion this month. To serve its clients well, Bank M said it would continue to invest in modern technologies. Deposits of the bank, which started its operations in July 2007, grew by 57 per cent. It started business with one branch along Nyerere road. Two more branches were opened later in Dar es Salaam. The bank will open a branch in Arusha next month and the other one in Mwanza. Add this page to your favorite Social Bookmarking websites           |
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