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The bank is creating a broad revenue base, which will help lower the costs, making services easily accessible. TCB has 82 branches, putting it on the list of three top lenders in terms of network of outlets
Tanzania Commercial Bank (TCB) has outlined a strategic roadmap aimed at becoming the third-largest bank in the country within the next three to five years. To achieve that goal, it has selected three key focus areas: prioritizing support for small and medium entrepreneurs (SMEs), leveraging digitization with improved offerings, and optimizing operations.
Earlier, the focus areas of the bank were the issuance of banking services to individuals, public servants and retirees. With the new focus areas, TCB will lend Sh300 billion to large companies and SMEs. It also seeks to make an impact on financing the government’s strategic projects, including the Standard Gauge Railway (SGR) for which it has already facilitated the importation of wagons.
The bank will make investments in digital services to broaden people’s access to services and simplify their accessibility. The bank is creating a broad revenue base, which will help lower the costs, making services easily accessible.
TCB has 82 branches, putting it on the list of three top lenders in terms of network of outlets. By leveraging technology, the bank will raise the number of its banking agents further from the current 6,000. TCB joined the list of Tanzania’s first-tier banks in 2020 when its total assets crossed the Sh1 trillion mark. It has seen its total assets rise to Sh1.47 trillion in 2023. It now targets Sh1.7 trillion in assets in 2024.
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TCB managed to contain the ratio of Non-Performing Loans (NPLs) to total gross loans to 3.97% during the first quarter of 2024.TCB held a total of Sh1.17 trillion in customers’ deposits during the first quarter of 2024, a 12%improvement from Sh1.04 trillion held during a similar period last year
