Author: JAMES KAMALA
AfricaPress-Tanzania: THE DCB Commercial Bank shareholders are set to approve dividend after posting gross profit growth of 30 per cent last year in the Annual General Meeting (AGM) scheduled for Saturday via virtual meeting.
Bank’s Managing Director, Godfrey Ndalahwa said in Dar es Salaam yesterday that the gross profit grew from 1.62bn/- in the year 2018 to 2.10bn/-in the year 2019.
“Our seven thousand shareholders will meet to approve dividend after making losses for three years,” he said.
Ndalahwa who was addressing a press conference in Dar es salaam yesterday, said that growth of the bank were due to implementation of a 2018-2022 five –year strategic plan which aimed at transforming the bank from loss making into profitable business.
He said that before implementation of the plan, the bank made a loss of six billion in the year 2017 alone.
Other achievements to be taken before the forthcoming shareholders meeting according to the managing director includes 14 per cent deposits, 22 per cent growth of earnings and decrease by nine per cent of running expenses, all between the year 2018 to 2019.
He said that the secret behind success of the bank was focus put on improving customer services, favorable policies and embracing modern technology in serving customers better.
The managing director said also that through the meeting, shareholders will be informed on strategies and plans of expanding the banking network, where it plans to open three more branches, which will make a total of 10 branches and a sum up of 28 service centres while it still focuses of using mobile phone financial services to win hearts of Tanzanians regardless of their geographical location.
He also expressed his optimism in the coming days even if the outbreak of Covid-19 affected business negatively, saying that shareholders will be informed on how trainings to its employee will continue being offered for improving customer service provision.
“We have improved ways of getting customer feedback and minimized time of attending queries through ‘ongea nasi’ platform,” he said.
