Tanzania: Bank M Soars in Profit

BANK M pre-tax profit has gone up by almost 8.0 per cent in year-to-year thanks mainly to foreign exchange dealings and fee and commissions.

The mid-sized financial service provider posted pre-tax profit of 16.25bn/- for the cumulative year ending this September compared to 15.09bn/- of same period last year. The financial statement issued yesterday shows that the bank non-interest income generated 17.34bn/- compared to 13.17bn/- of same period last year.

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