Tanzania: Small Banks Lead Way in Deposits Growth

SMALLER and new mid-sized banks have taken the lead in deposit growth as measured by percentage increase. The Tanzania Banking Survey 2012 notes that their growth in deposit was most robust. Njombe Community Bank recorded the biggest deposit increase of 853 per cent.

Deposits at Ecobank Tanzania and Access Bank Tanzania rose 188 per cent and 107 per cent, respectively. Other significant movers in terms of deposit growth were Citibank (61 per cent), BanABC( 57) and Bank M (54). Customer deposits in the banking system increased by about 2.2trn/- in 2011, representing a 17 per cent jump in one year.

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