TPB customers’ deposits rise to 308bn

The bank’s loan portfolio has grown by 288 percent to 252bn/- in 2015 from 65bn/- in 2010, Moshingi said.

He pointed out that the balance sheet of the bank has grown from 121bn/- to 371bn/-, which is an increase of 207 percent between 2010 and 2015.

“The shareholders fund of the bank has also grown by 432 percent from 7.7bn/- to 41bn/- between 2010 and 2015. This achievement is attributed to offering the whole array of products and services save for current accounts,” he said.

He added: “Our loan products include the revolutionary Wastaafu Loan - loans to pensioners where we have partnered with all pension funds to lend out money to members of all schemes”.

We also have business loans, micro credits, and group lending and consumer loans. We also provide cash collection services, for example, as we do with CitiBank, Standard Chartered and Higher Education Students Loans Board, he said.

TPB has also a money transfer services which is under the Western Union Money Transfer service as well as salary processing, he further said.

“As you can see, we offer a full range of financial services that would suit any corporate entity or individual, he explained.

TPB’s corporate social responsibility (CSR) activities focus on health, education and social welfare,” he added.

He noted: “In 2015 the bank gave away 150m/- to worthy causes. Some of these were: the completion of a health centre in Ungi Msuka - Pemba at a cost of 55m/-, provision of 50 desks to Gideli Primary School in Mwanza Region at a cost of 5m/- and handing over 10 computers to Tumaini English Medium School in Dodoma Region at a cost of 4m/-.

We continue to strive to see how we can use our Corporate Social Responsibility as one of our tools to improve the lives of Tanzanians”.
Speaking on the advantages of TPB being part of the Umoja Switch network, the CEO said:

“Being part of Umoja Switch network, this further widens our outreach to more potential customers.

This is because the Umoja Switch network has over 200 ATMs and TPB has 39 ATMs in this network. We have the benefit of being able to reach out to all bank customers whose banks use Umoja and this is as diverse as CBA and BOA to TPB and Azania, furthermore, with M-Pesa customers being able to transact on Umoja ATMs”.

He insisted: “Our vision is ‘to be the leading bank in the provision of affordable financial services and promoting financial inclusion in Tanzania,’ and our mission is ‘to improve the economic well being and quality of life of every Tanzanian by actively promoting savings, access to credit and the practice of sound financial management while creating value for our stakeholders’”.

“We are the only bank in Tanzania that has made a conscious decision to bank the unbanked and under-banked and we see this viable method to empower Tanzanians economically,” he said.