Coop bank loans hit 135.7bn/-
TANZANIA: THE Cooperative Bank Tanzania Plc has recorded significant growth after disbursing over 130bn/- in loans to customers across the country within a period of 12 months.
The bank’s Head of Business and Cooperative Banking, Mr Yahya Kiyabo, said that loans increased from 27.8bn/- disbursed in June 2025 to 135.7bn/- in June this year, marking a 388 per cent rise.
He said customer deposits also grew substantially from 53.01bn/- in June 2025 to 156.4bn/- in June 2026, equivalent to a 195 per cent increase.
Mr Kiyabo further noted that Net Interest Income rose from 1.97bn/- to 4.7bn/- over the same period, while Shareholders’ Funds increased from 34.7bn/- to 46.4bn/-, representing a 34 per cent growth.
In line with its expansion strategy, the bank increased its branch network from four to seven outlets nationwide, while staff numbers rose from 69 to 113.
Meanwhile, the Minister for Livestock Development and Fisheries, Dr Bashiru Ally, is expected to launch the bank’s Kagera Branch today (Tuesday) in Bukoba Municipality, where he will be the guest of honour.
Mr Kiyabo called on Tanzanians to utilise the bank’s services, reaffirming its commitment to becoming a leading financial institution in the country.
He said the bank, with over 25 years of experience, has remained rooted in the cooperative movement by empowering individuals, businesses and communities through inclusive financial services.
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Established in the 1990s to serve cooperative societies and their members, the bank operates on principles of self-help, mutual responsibility and community ownership.
Mr Kiyabo added that the bank has continued to modernise its services through digital solutions such as CoopNet Internet Banking, the CoopPesa Mobile App and CoopWakala agency banking, particularly targeting rural and underserved communities.
He also cited the 2024 merger of Kilimanjaro Cooperative Bank Limited (KCBL) and Tandahimba Community Bank Limited (TCBL) as a key milestone that strengthened the bank’s capacity to serve cooperative institutions, SMEs, farmers and retail customers nationwide.
He said the bank will continue embracing innovation and expanding its branch and agency network, with a long-term target of establishing more than 30 branches across the country.
