Bank of Africa Tanzania Reports 43% Decline in Its Second-Quarter Profit

Bank of Africa Ltd.’s Tanzanian unit said its second-quarter profit declined 43 percent as non- interest expenses increased.

Net income fell to 273 million shillings during the three months to June 30 from 475 million shillings a year earlier, Bank of Africa Tanzania Ltd. said in a statement published in the Daily News newspaper today.

Non-interest expenses increased to 4.6 billion shillings from 3.5 billion shillings, the Dar es Salaam-based lender said. Net interest income, the money banks make from lending, rose to 3 billion shillings from 2.4 billion shillings, it said.

To contact the reporter on this story: David Malingha Doya in Johannesburg at

To contact the editor responsible for this story: Alastair Reed at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.