Exim Bank Tanzania has officially acquired assets and liabilities of FNB Bank Tanzania as a continuation of the bank’s commitment to expand its wings within and outside the country.
Exim’s Chief Executive Officer Mr Jaffari Matundu said in Dar es Salaam over the weekend that the bank’s move comes less than three years after it bought UBL Tanzania.
“The move has come following the successful completion of the acquisition process under supervision of the Bank of Tanzania (BoT) and other Regulatory agencies,” he said.
He added, “We are excited to welcome former FNB Bank customers to the Exim family. As part of the Exim family, you will have access to more of the things that make banking better.
You can rely on our bankers to help you develop a plan to achieve your financial goals. With the professional guidance, support and resources you can be certain that your plan will continue to work for you,”
He said Exim Bank also operates in the Comoros, Djibouti, Uganda and Ethiopia
“As we are about to celebrate our 25th anniversary, we are proud of this growth that gives us the status of being a refuge bank not only in Tanzania but also beyond the country’s border,” he said.
The bank is among the top five banks in the country with total assets of 2.4tri/- in all four countries.
During the first half of the year, the bank generated pre-tax profits of 18bn/-compared to 6bn/- earned in the first half last year.
The growth of total assets to 1.5tri/-from 1.3tri/-over the past year and the consumer securities from 780bn/-in June last year to 943bn/- in June this year.
Speaking on behalf of the other customers of the former FNB Tanzania bank Mr. Amandus Manda assured his fellow customers that by joining Exim Bank they are in safe hands through the excellent services provided by the lender.