Tanzanian Banks Lose Sh242 Billion As Business Gets Tough

Dar es Salaam — The glass is almost half empty for Tanzanian banks which have seen their profitability level declining by 53.65 per cent in the last two years amid tight business for the lenders.

The banking industry which is still growing in terms of assets registered the highest level of profits at Sh450.758 billion in 2015 but the net income slowed to Sh357.416 billion in 2016 and Sh208.921 billion in 2017, according to figures from the Bank of Tanzania.

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