• About Us
  • Contact
Wednesday, May 21, 2025
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Banking

Bank deposits hit 27.8trn/- in March on deposit mobilization campaigns

by Editor
27/06/2023
in Banking, Economic
0
Bank deposits hit 27.8trn/- in March on deposit mobilization campaigns
Share on FacebookShare on Twitter

Deposits mobilized by banks grew by 13.2 percent to reach 27.82trn/- at the end of March 2023 from 24.5trn/- recorded during the corresponding period last year according to the Bank of Tanzania (BoT) Consolidated Zonal Economic Performance Report for the Quarter ending March 2023.

“This outturn was mainly attributed to deposit mobilization measures adopted by banks, enhanced use of agent banking, and the continued recovery of economic activities,” the Central Bank said.

According to available BoT, bank loans to various economic activities recorded an annual growth of 20.2 percent to 24.51trn/- at the end of the review period.

Deposits mobilized by banks grew by 13.2 percent to reach 27.82trn/- at the end of March 2023 from 24.5trn/- recorded during the corresponding period last year according to the Bank of Tanzania (BoT) Consolidated Zonal Economic Performance Report for the Quarter ending March 2023. PHOTO | COURTESY

The performance was largely attributed to improvement in economic activities and supportive fiscal and monetary policies.

“About 87 percent of bank loans were held by personal, agriculture and trade activities,” the report shows.

The Dar es Salaam zone accounted for the largest share of the deposits totaling 17.13trn/- at the end of March representing 61.6 percent of the total deposits.

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
Editor

Editor

Next Post
China pledges to strengthen cooperation with EAC

China pledges to strengthen cooperation with EAC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 21 May.

Recommended

Africa must tackle huge infrastructure gap to unlock opportunities for transformation – Report

Africa must tackle huge infrastructure gap to unlock opportunities for transformation – Report

2 years ago
Toyota plans to build 10.6 million vehicles in 2023

Toyota plans to build 10.6 million vehicles in 2023

2 years ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Oil and Gas
    • Others
    • Q&A Interviews
    • Real estate
    • Sectors
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili