Tanzania: Barclays Bank Suffers 6.3 Billion/- Loss

BARCLAYS Bank (Tanzania) Limited has posted a net loss of 6.29bn/- in the second quarter of this year, months after closing dozens of its branches and laid down workers in what it called "restructuring". The bank in the similar quarter last year made a net profit of 1.63bn/-.

According to the bank's financial statement released, the losses are attributed to the amount set aside for impairment losses on loans and advances of 2.34bn/- in the said quarter.

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