Exim Bank marks 19th anniversary
What you need to know:
- The bank has branches in Djibouti and the Comoros.
- “The bank was the first in the country to launch mobile money applications for smartphones and the first to establish its footprints outside the country,” he said yesterday. Last year, it issued a six-year retail bond that was oversubscribed by about 100 per cent.
Dar es Salaam. Exim Bank Tanzania its 19th year since it began operation on August 15, 1997 with a total value of assets of Sh1.5 trillion, according to the bank’s chief financial officer, Mr Selemani Ponda.
The bank has branches in Djibouti and the Comoros.
“The bank was the first in the country to launch mobile money applications for smartphones and the first to establish its footprints outside the country,” he said yesterday. Last year, it issued a six-year retail bond that was oversubscribed by about 100 per cent.
The lender wanted to raise Sh10 billion but investors subscribed up to Sh1.97 billion. In March this year, Exim also announced to buy 58.6 per cent of Uganda’s Imperial Bank Limited. “As the bank gradually transforms into a regional player, its branch network has expanded to 43 branches across four countries- Tanzania, Uganda, Djibouti and the Comoro, with plans to venture into other markets in the next five years.” The bank’s human resource head, Mr Fredrick Kanga, said Exim had also launched new products such as the whistleblower (anti-fraud campaign, Tanapa Exim cards and Visa cards and Elimika Elearning management system for training its workers.
With regard to whistle blower’s product, the bank’s head of risk, Mr David Lusala, said customers and other people can send information about fraudulent activities via emails or the mobile phone number that will be provided.
The bank’s profit after tax increased to Sh59.3 billion in the first six months to June 30, 2016 compared with Sh13.1 billion recorded during the same half of last year.
