Dodoma. Coop Bank Tanzania has described 2025 as a foundation year for its strategic growth and long-term sustainability as it embarks on implementing its 2026–2030 strategic plan aimed at driving inclusive growth.
Speaking at the bank's second annual general meeting (AGM) in Dodoma on Friday, July 31, 2026, chief executive officer Mr Godfrey Ng'urah said the lender had recorded strong growth despite operating for only a short period under its new corporate structure.
He said the bank had implemented major structural, operational and governance reforms as part of its long-term strategy to strengthen financial services for Tanzania's co-operative movement.
Mr Ng'urah said the bank, working closely with the Ministry of Agriculture and the Tanzania Co-operative Development Commission (TCDC), had successfully completed its legal and strategic transition from a co-operative society into a limited company.
"The transition was completed and the bank was officially registered as a company by the Business Registrations and Licensing Agency (Brela) on April 24, 2025. This marked a major shift in our governance and operating model, transforming the bank from a legally registered co-operative society into a commercial company," he said.
He said the new corporate structure would strengthen the bank's long-term vision of building a sustainable and inclusive financial institution while enhancing corporate governance and regulatory oversight under the Bank of Tanzania (BoT).
Mr Ng'urah said the bank had expanded its branch network from three to seven branches over the past year, while total assets grew from Sh49 billion to Sh177 billion.
The loan book increased from Sh14 billion to Sh102 billion, customer deposits rose from Sh15 billion to Sh114 billion, and shareholders' equity climbed from Sh27 billion to Sh42 billion.
Gross income reached Sh9.3 billion, up from Sh1.1 billion in 2024, representing growth of 631 percent.
"This demonstrates that our business foundation continues to strengthen. Our products and services are gaining wider market acceptance, generating higher revenues, while efforts to expand our service reach are beginning to deliver positive results," he said.
Mr Ng'urah said banking industry reports ranked Coop Bank as Tanzania's fastest-growing bank, adding that the lender aims to maintain that momentum while strengthening shareholder confidence.
He attributed the growth to the opening of new branches in Dodoma, Tandahimba and Tabora, as well as the completion of the bank's new headquarters in Dodoma.
Addressing the AGM, TCDC Director General Dr Benson Ndiege urged members of co-operative societies to join Coop Bank, describing it as a suitable financial institution for the sector.
He encouraged co-operative members to support the bank and said collective efforts could help transform it into one of Tanzania's largest lenders, noting that members of the co-operative movement own 51 percent of the bank.
Dr Ndiege also encouraged more people, particularly young people, to invest in the bank by purchasing shares to improve access to affordable credit.
Meanwhile, CRDB Bank managing director Dr Abdulmajid Nsekela, whose bank is the strategic investor in Coop Bank, urged shareholders to support ongoing reforms and back the bank's leadership as it pursues its long-term growth strategy.
He said successful investments require sustained commitment and called on shareholders to approve a modest allocation of funds to support the bank's operations, particularly the work of its board of directors.
The proposal was unanimously approved by shareholders.
