ACCESSBANK Tanzania (ABT) shareholders have approved a capital increase of 8.0bn/- in order to support expansion of the bank.
ABT Chief Executive Officer Mr Roland
Coulon said the capita would cater for the expansion of the bank’s
branches network. “ABT will pursue the expansion of its branches
network.
We will continue up scaling the digital
and other alternative distribution channels as a means to increase our
outreach,” he told the Daily News yesterday.
In the near future, the bank’s RAHISI
account, powered by AccessMOBILE, will receive additional features
allowing savings groups to use this solution and shift from traditional
cash box management to fully digital.
“We will continue up scaling the digital
and other alternative distribution channels as a means to increase our
outreach,” he said.
RAHISI powered now accounts for more
than 25,000 customers with a cumulated balance of more than 5.0bn/-,
which is an appreciable source of funding.
Mr Coulon was explaining to the Daily
News the reason of posting a pretax loss of 3.3bn/- last year against
the pre-tax profit of almost 1.0bn/- in previous year.
He said the development costs and
investments undertaken in 2015 were expected to bring positive results
from 2016. “First results have already appeared on first quarter of this
year (2016) with a positive trend on profitability, confirming the
relevance of the strategic choices made in 2015,” Mr Coulon said.
Also the bank, established almost 10
years ago, under agency banking—WAKALA—will pursue its growth for the
best of AccessBank capacity to serve unbanked people in more isolated
zones.
ABT strategy was fully supported by its
parent company Access Microfinance Holding AG as well as other reputable
international shareholders including the African Development Bank, KfW
Development Bank and the International Finance Corporation, member of
the World Bank Group.
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