The DCB Commercial Bank (DCB) has provided 12.4bn/- dividends to its shareholders in the last 10 years. The bank’s outgoing Managing Director, Mr Edmund Mkwawa, told reporters on Wednesday that the bank has been recording good performance since its establishment in 2002.
He added that out of 12.4bn/- some 4.4bn/- was offered to Dar es Salaam City, which is the founder of the bank along with its district councils such as Ilala, Kinondoni and Temeke who invested 1.3bn/-. Mr Mkwawa said so far the capital has increased from 1.3bn/- to 6.3bn/- through bonus issue and right issue.
The bank was established in 2002 following the third President Mr Benjamin Mkapa call for establishment of a financial institution that provides capital to ordinary ‘wananchi’ who wanted to establish and develop businesses.
“The bank continues to serve the public in a professional way, we have established various programmes that aim at supporting ‘wananchi’,” he said. On loaning women, youth and various groups, Mr Mkwawa said so far the bank has provided 123.8bn/- through the Kinondoni, Temeke and Ilala municipal councils. He said the money has been provided to 476,146 beneficiaries.
He added that the bank has expanded its network from serving Dar es Salaam residents to countrywide. “We are now offering services across the country through various means including DCB pesa and DCB jirani,” he noted.
He said so far the bank has a total of 542 agents for DCB jirani across the country. In a bid to support economic growth through industrial drive the bank has paid tax and other duties worth 23.4bn/-between 2002 and 2016.
On future plans, Mr Mkwawa said the bank plans to continue utilising available business opportunities and that it will continue to support entrepreneurs through loans and other related supports.
Daily News
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