Uchumi Commercial Bank profit up

UCHUMI Commercial Bank (UCB) Limited profit after tax grew to 709.3m/- last year, which is an increase of 49.60 per cent when compared to 474.1m/- in the corresponding period in 2017.

The UCB General Manager, Ms Angela Moshi said in an interview with the ‘Daily News’ here that the bank issued loans to individuals, companies, institutions, social and economic groups totalling 23.43bn/- in the year under review, an increase of 21.21 per cent.

Out of this, 30 per cent has been directed to agricultural activities. “UCB recorded customers deposits tuned at 25.41bn/-, being an increase of 11.76 per cent compared to 22.74bn/- issued in 2017,” she said.

The total assets of UCB was 34.28bn/-, an increase of 10.25 per cent compared to 31.09bn/- recorded in 2017.

She also said that, last year her bank introduced agency banking services whereby customers can access banking services through agents located in Bomango’mbe in Hai District, Himo town, Mwika and Rombo.

In the same vein she said currently her bank is expecting to launch another new product called Hazina account meant for retired people at a zero maintenance cost adding that the bank has also a special window for Bureau de change services whereby foreign currencies are being exchanged at a competitive rate.

INFORMATION and Communication Technology (ICT) experts are scheduled ...

Author: LYAMUYA STANLEY in Moshi

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