[2007-09-28]  Exim Bank to open office in Comoro
EXIM Bank will next month open a subsidiary office in Comoros, thus becoming the first local Tanzanian bank to open franchise abroad in the country’s banking industry history.

The Bank’s Chairman, Mr Yogesh Manek, said over the weekend that the move was in line with bank’s strategies to expand and become the leading bank in the country.

The bank, which has 10 branches, aims at increasing two more branches, although Mr Manek did not immediately disclose where they would be opened.

Mr Manek said this during signing ceremony of a six million US dollars (about 7billion/-) credit from Norwegian Fund (NORFUND) that was held in Dar es Salaam in the presence of Norwegian Ambassador to Tanzania Mr Jon Lomoy.

Exim Bank which started operations 10 years ago has seen some impressive improvements in all key financial performances including recording 4.9 bn/- profit after provisions while deposit base increased to 285.4 bn/- with a loan portfolio of 134.2 bn/-.

“Its asset base grew to 339 bn/- while maintaining expansion of network across Tanzania to 10 branches,” he said.





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