{"id":108600,"date":"2024-04-12T15:54:39","date_gmt":"2024-04-12T15:54:39","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent"},"modified":"2024-04-12T17:03:57","modified_gmt":"2024-04-12T17:03:57","slug":"tadb-profit-increases-by-21-per-cent","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent","title":{"rendered":"TADB profit increases by 21 per cent"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>TANZANIA: <\/b>TANZANIA Agricultural Development Bank Limited\u2019s (TADB) profit increased by 21 per cent in the year ended December last year on account of increased net interest income.<\/p>\n

According to the bank\u2019s statement, net profit increased to 13.5bn\/- from 11.1bn\/- reported in the preceding year.<\/p>\n

According to the statement, the loan portfolio of the bank increased by 25.3 per cent to 330.7bn\/- from 263.8bn\/- recorded in the prior year. In addition, the statement showed TADB\u2019s non-interest income increased by 90 per cent, thanks to foreign currency dealings and translation gains.<\/p>\n

The bank\u2019s foreign currency dealings and translation gains increased to 350m\/- from 309m\/- registered in a prior year, equivalent to 13.2 per cent increase. Despite the increase, TADB\u2019s fees and commissions slightly went down by 6.6 per cent to 2.1bn\/- from 2.2bn\/- in the previous period.<\/p>\n

Moreover, non-performing loans (NPLs) decreased by 3.2 per cent to 12.7bn\/- from 13.2bn\/- recorded in the preceding year.<\/p>\n

The bank as well has maintained the level of NPLs ratio of 4 per cent from 5 per cent registered the previous year which is below the central bank\u2019s threshold of 5 per cent.<\/p>\n

Either, TADB\u2019s special deposits have also increased to 85.7bn\/- from 61.7bn\/-, equal to 38.7 per cent, signifying the customers\u2019 trust in the bank. On the other hand, net interest expenses increased by 33.5 per cent to 22.7bn\/- registered until the end of December last year from 17bn\/- recorded in the previous year.<\/p>\n

The increase in net interest expenses has been attributed to the rise in salaries and benefits. According to the statement, TADB\u2019s salaries and benefits increased to 10.9bn\/- until the end of last year from 9.9bn\/- of the previous period. The rise in salaries and benefits is attributed to an increased number of employees.<\/p>\n

The number of employees, according to the statement, increased to 124 from 105 despite maintaining several zone offices. Up to the end of December last year, the bank recorded a total of six zone offices.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. TANZANIA: TANZANIA Agricultural Development Bank Limited\u2019s (TADB) profit increased by 21 per cent in the year ended December last year on account of increased net interest income. According to the bank\u2019s statement, net profit increased to 13.5bn\/- from 11.1bn\/- reported in the preceding year. According to the statement, the loan portfolio of […]<\/p>\n","protected":false},"author":84,"featured_media":108599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-108600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nTADB profit increases by 21 per cent - Tanzania<\/title>\n<meta name=\"description\" content=\"TANZANIA: TANZANIA Agricultural Development Bank Limited\u2019s (TADB) profit increased by 21 per cent in the year end ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TADB profit increases by 21 per cent\" \/>\n<meta property=\"og:description\" content=\"TANZANIA: TANZANIA Agricultural Development Bank Limited\u2019s (TADB) profit increased by 21 per cent in the year end ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-12T15:54:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T17:03:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1712924986.972557.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TADB profit increases by 21 per cent\",\"datePublished\":\"2024-04-12T15:54:39+00:00\",\"dateModified\":\"2024-04-12T17:03:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\"},\"wordCount\":356,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1712924986.972557.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-profit-increases-by-21-per-cent\",\"name\":\"TADB profit increases by 21 per cent - 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