TIB
Corporate Bank posted a net loss of 6.38bn/- last year in the year from
12m/- profit made in the preceding year on account of the increased
impairment losses on loans and advances.
According to the bank’s financial
statement, the impairment losses on loans and advances grew to 2.1bn/-
in
2017 from the profit of 33m/- of the previous year.
During the year under review, loans,
advances and overdrafts increased to 133.8bn/- from 104.6bn/- in the
year 2016. Gross loans, advances to total deposits rose to 49 per cent
from 45 per cent in the year before.
However, non-performing loans and advances total gross loans rose to 6 per cent compared to 5 per cent.
The interest expenses increased to
12.5bn/- compared to 11.7bn/- while non-interest expenses like salaries
and benefits, fees and commission and other operating expenses increased
to 22.2bn/- from 18.9bn/-.
Foreign currency dealings and translation
gains declined to 1.13bn/- from 2.11bn/- in the previous year while
income from fees and commissions fell to 2.92bn/- from 3.16bn/-.
According to the statement, customer
deposits increased to 203.8bn/- from 160.2bn/- in the year before while
deposits from other banks and financial institutions declined to 56bn/-
compared to 73.13bn/-.
The bank’s balances with the Bank of
Tanzania (BoT) increased to 44.62bn/- in the year under review compared
to 25.53bn/- in 2016.
No comments :
Post a Comment