BANK OF AFRICA in Tanzania performance marked improvement over previous year. PBT rose by 29% to TZS 7.4 billion (2014: TZS 5.8 billion).
Net operating income increased by 20% to TZS 43.3 billion, driven by interest income growth, whereby net interest income grew by 33% to TZS 28.3 billion (2014: TZS 21.3). The Bank’s net loan book grew by 12% to TZS 307 billion while the total balance sheet grew by 16% to TZS 575 billion. Customers’ deposits for the Bank stood at TZS 351 billion as at 31 December 2015, being a growth of 12% over the previous year.