[2008-07-16]  Dar bank IPO oversubscribed
The Initial Public Offer (IPO) floated by the Dar es Salaam Community Bank (DCB) has attracted 5.2bn/- , well above the target set at 1.5bn/-, it was announced in Dar es Salaam yesterday.

The bank is in the process of listing its shares on the Dar es Salaam Stock Exchange (DSE) for purposes of boosting its capital to meet its expansion plans, the Chairman of the DCB Board of Directors, Mr Paul Rupia, told a news conference.

Mr Rupia said the ban plans to open six more branches in 2011. The bank currently operates three branches. He said through expansion the bank would increase deposits and earn more income.
Source: Copyright @TSN 2007