Exim Bank has reiterated its commitment to continue investing in technology as part of its commitment to enhance its service offerings to customers across its branch network in and outside Tanzania.
According to the bank’s Chief Financial Officer Shani Kinswaga, the lender earlier this year upgraded its core banking system to a more resilient and robust infrastructure, a move geared towards enriching its offerings and delivering customers a heightened sense of security, efficiency, and innovation.
“This re-affirms our unwavering dedication to evolving into more than just a conventional banking establishment. As a bank, we are committed to delve into the complete capabilities of our enhanced systems and our commitment persists in delivering beyond conventional banking services to our valued customers and the community we serve,” Kinswaga stated.
Exim Bank’s Group’s Profit Before Tax rose by 16.9 percent from the same period last year to 36.60bn/- according to the bank’s unaudited results for the period ended 30 th June 2023, released recently.
Kinswaga in a statement availed to the media yesterday said the first half results reflect the bank’s unwavering commitment to operational excellence following successful implementation of the bank’s strategy. Embracing a holistic approach, the bank endeavors to create lasting value for customers and the surrounding community alike.
“The impressive achievements witnessed in the bank’s performance during the first half of the year serve as a catalyst for this move, intended to establish the Bank as a frontrunner in the financial sector,” he said.
The Group’s Net Interest Income increased by 9.6 percent to 66.20bn/- for the six months ended 30 June 2023 as compared to 60.4bn/- recorded during the same period last year.
Kinswaga said the positive macroeconomic environment has contributed to the bank’s positive financial and operational performance in the first half of 2023.
“Our consistency in investing in technology and innovation enabled us to deliver world-class services that enhance the customer experience. We remain committed to leverage this growth and success to create value for all our stakeholders.” He added.
Kinswaga said the Group’s customer deposits as of 30 th June 2023 increased by 9.20 percent ton1.9trn/- while the shareholders fund also increased by 23.90 percent to 291bn/- compared to the same period last year.
The Group’s Non-Funded Income (NFI) grew by 24.8 percent to 45.30bn/- while loan advances increased by 11.11 percent to 1.3trn/- compared to the same period last year.
The Exim Bank Chief Executive Officer Jaffari Matundu said the bank during the first six months this year continued to implement its Corporate Social
Investment (CSI) strategy demonstrating its commitment to sustainable development through various Corporate Social Responsibility (CSR) programs geared towards creating a shared value for stakeholders including communities where the bank operates.