On Tuesday, the bank awarded customers following a deposit campaign dubbed "Grow your Deposit and Win" which sought to encourage customers to save and increase returns on their investment.
Presenting the prizes, Head of retail Banking, Ms Mwanahiba Mzee said that the bank will be awarding its customers for their increased efforts in increasing their savings. "The role of domestic savings in national resource mobilization for the purpose of development financing cannot be over-emphasised," she said.
Ms Mwanahiba announced the overall winner of the campaign as Mr Patrick Luvanda whose grand prize was a 42 inch flat screen TV.
The 1st runner up was named as Mr Geliano Mbilinyi who went home with a Home Theatre system.¬† Other customers were also awarded with monthly gift hampers during the campaign promotion.
"Eligibility of the customers for the grand prizes was based on the set criteria with regards to number of accounts opened, deposits mobilized and accounts activated," she said. Ms Mwanahiba said that though the role of domestic savings in national resource mobilization for the purpose of development financing is very well known, very little has been done over the years to encourage a culture of savings in Tanzania.
"Through this campaign and other financial solutions that we offer, our bank has grown to become an even stronger organization capable of fast-tracking our country's economic development," she noted. She explained that over the past few months, the banking sector witnessed tight liquidity position in which most banks have endeavored to raise their deposits from the local market.
"The rising of the treasury Bills, interbank and base lending rates further necessitated the need for banks to seek more ways of raising deposits from their customers," she explained. She urged the bank's customers to continue participating in these initiatives that seek to reward them for their savings.
She said that the bank will soon be launching new and exciting retail packages that will seek to make their customers enjoy exemplary services, increase their annual savings and enjoy a wide array of benefits on their accounts. Speaking on behalf of his husband, Mrs Upendo Luvanda said their family is happy for the prize won by her husband.
"I am short of words-I am very happy," she said, adding that the bank should continue with such campaigns to encourage people to cultivate saving culture.