DCB Bank CEO Mr.Edmund Mkwawa
THE
DCB Commercial Bank Plc issued a 1.55bn/- dividend to its shareholders
as it opened its ninth branch in Dar es Salaam to be known as Benjamin
Mkapa City Branch.
Speaking
during a launching of the branch, the bank Chief Executive Officer, Mr
Edmund Mkwawa, said the dividend is the profit the bank got last year.
Some of the shareholders who got the dividend include the Dar es Salaam
City Council, Temeke, Kinondoni and Ilala municipalities.
Mr
Mkwawa said the bank capital stands at 32bn/- compared to initial
capital of 1.1bn/- when the bank started in 2002. Moreover, the bank
assets increased from 3.05bn/- in 2006 to 171.4bn/- last year which is a
raise of more than 5,622 per cent.
He
said this year they expect to record a 6.8bn/- profit after tax while
they are improving their infrastructure to cope with the current market
needs.
Mr
Mkwawa urged the Minister of State in the President’s Office -Regional
Administration, Local Government, who was the chief guest during the
event to pass over the message to the Minister for Finance over the
government decision that all parastatals, government agencies and
institutions to open an account with the Bank of Tanzania saying the
decision will hinder the private bank development.
The
bank board Chairman, Ambassador Paul Rupia, handed over the 30m/- as
the bank’s corporate social responsibility for the purchase of 300
school desks for the three municipalities.
Opening
the bank, Mr Simbachawene called for efficiency in the bank delivery
and should open up more braches upcountry. He underscored the need for
the municipalities to utilize fully the services offered by the bank in
which they are shareholders for it to operate competitively.
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