THE DCB Commercial Bank (DCB) has provided 12.4bn/- dividends to its shareholders in the last 10 years. The bank’s outgoing Managing Director, Mr Edmund Mkwawa, told reporters yesterday that the bank has been recording good performance since its establishment in 2002.
He added that out of 12.4bn/- some
4.4bn/- was offered to Dar es Salaam City, which is the founder of the
bank along with its district councils such as Ilala, Kinondoni and
Temeke who invested 1.3bn/-. Mr Mkwawa said so far the capital has
increased from 1.3bn/- to 6.3bn/- through bonus issue and right issue.
The bank was established in 2002
following the third President Mr Benjamin Mkapa call for establishment
of a financial institution that provides capital to ordinary ‘wananchi’
who wanted to establish and develop businesses.
“The bank continues to serve the public
in a professional way, we have established various programmes that aim
at supporting ‘wananchi’,” he said. On loaning women, youth and various
groups, Mr Mkwawa said so far the bank has provided 123.8bn/- through
the Kinondoni, Temeke and Ilala municipal councils. He said the money
has been provided to 476,146 beneficiaries.
He added that the bank has expanded its
network from serving Dar es Salaam residents to countrywide. “We are now
offering services across the country through various means including
DCB pesa and DCB jirani,” he noted.
He said so far the bank has a total of
542 agents for DCB jirani across the country. In a bid to support
economic growth through industrial drive the bank has paid tax and other
duties worth 23.4bn/-between 2002 and 2016.
On future plans, Mr Mkwawa said the bank
plans to continue utilising available business opportunities and that
it will continue to support entrepreneurs through loans and other
related supports.
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