The bank profit was pushed up mainly by net interest income that increased to 26.99bn/- in 2016 from 20.88bn/- in 2015. Noninterest income increased slightly to 18.73bn/- from 16.19bn/-.
The bank assets have grown to 503.67bn/- in 2016 a trajectory seen in the last four year.
The assets on average grew by 100bn/- yearly. The PBZ is one among the oldest commercial banks in Tanzania. It is fully owned by the Government of Zanzibar. PBZ is the only bank in Tanzania with its head office in Zanzibar.
It dominates the Zanzibar market with about 50 per cent of the market share formed of the cosmopolitan population of over 1 million people. Zanzibar enjoys leading tourist investments from various countries.
The Bank does both retail and corporate banking with equipped modern systems that facilitate banking business locally and overseas efficiently.
PBZ offers a wide range of current accounts designed to suit almost every customer including the government and its agencies, all types of companies, societies, clubs, associations, NGOs, United Nation boards, Diplomatic Missions as well as individuals.
It also offers current accounts in both local currency and in foreign currencies.
Source: DailyNews
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