Dar Es Salaam Community Bank of Tanzania Says Full-Year Profit Surges 72%

Dar es Salaam Community Bank (DCB) Ltd., a Tanzanian lender, said full-year profit jumped 72 percent as lending increased.

Net income surged to 3.16 billion Tanzanian shillings ($2.09 million) in the 12 months through December, from 1.84 billion shillings a year earlier, according to a statement published on the Dar es Salaam Stock Exchange’s website. Loans grew 42 percent to 58.3 billion shillings, it said.

The bank projected lending would increase to 81.6 billion shillings this year as it opens two new branches in Dar es Salaam, the commercial capital.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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