COOP assets hit 176.8bn/- as customer deposits surge

DODOMA: Co-operative Bank Tanzania Plc (COOP Bank) assets have reached 176.8bn/- with customer deposits rising to 114.5bn/- from 19bn/-, driven by increased trust from customers and shareholders as well as the strengthening of internal operational systems.

Speaking in Dodoma during the bank’s Second Annual General Meeting of Shareholders for the year ending December 31, 2025, COOP Bank Board Chairperson Dr Joseph Witts added that the lender’s loan portfolio has surged to 101.8bn/-, up from 14bn/-, demonstrating its robust business growth.

Dr Witts noted that the quality of the loan book has continued to improve after the non-performing loan (NPL) ratio was controlled down to 1.2 percent, well within the regulatory requirement for the banking sector.

Since its inception, the bank’s balance sheet has expanded from 49bn/- to 179bn/-, while shareholders’ equity grew from 27bn/- to 42bn/-.

Total revenue, according to the Bank’s latest report surged by 636 percent, rising from 1bn/- to 8bn/-, with non-interest income increasing by 2,000 percent from 115m/- to 2.9bn/-.

“The achievements attained in 2025 provide a solid foundation to continue building a competitive, sustainable bank that protects shareholder investments and fulfills its mandate to serve the cooperative sector and drive national financial inclusion,” Dr Witts stated.

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Looking ahead, the board has approved a Five-Year Strategy (2026–2030) targeting 1tri/- in capital, 10tri/- in total assets, a 7tri/- loan portfolio, and 8.8tn/- in customer deposits by 2030, alongside an annual net profit of approximately 251bn/- while reaching over 10 million families.

On his part, COOP Bank Managing Director Godfrey Ng’urah noted that after reducing losses to 2.9bn/- last year, the bank expects to turn profitable starting next year.

The bank has expanded its footprint with new branches in Dodoma, Tabora, Dar es Salaam, Kagera, and Mtwara—bringing its total to seven branches—and plans to list on the Dar es Salaam Stock Exchange (DSE) via an Initial Public Offering (IPO) by 2030.

COOP Bank is determined to drive socio-economic transformation of co-ops members through financial inclusion initiatives and AI-powered digital innovations to empower and impact livelihoods of ten million families by 2030.