DTB TO ISSUE LOANS IN 5 DAYS

A maximum of Sh500 million will be issued to an eligible applicant through DTB’s “Chakarika 2 Campaign”, according to bank’s chief executive officer Viju Cherian

Dar es Salaam. Diamond Trust Bank (DTB) Tanzania plans to issue credit to small and medium enterprises (SMEs) within five days as it launches a new promotional campaign.

A maximum of Sh500 million will be issued to an eligible applicant through DTB’s “Chakarika 2 Campaign”, according to bank’s chief executive officer Viju Cherian.

The aim, he said, would be to promote the bank’s current account services to SMEs, especially those that were currently using the savings account for business transactions.

“Since our bank’s core business is lending, especially to SMEs, a maximum of Sh500 million will be issued to an SME within 5 days of request as long as they meet all the necessary conditions,” said Mr Cherian.

The campaign will be conducted for two months from March 1 across the bank’s 28 branches in the country.

“Customers who open business accounts during the two months of Chakarika 2 Campaign will automatically win point of entry gifts and will also receive invitations to SMEs workshop within their localities,” said Mr Cherian.

Chakarika 1 Campaign took place last year, with the same aim of offering current accounts at competitive rates, including opening balance of only Sh50,000 with the a monthly ledger fee of just Sh12,000.

According to DTB’s Products and Marketing head Sylvester Bahati, the bank plans to open two new branches by the end of this year of which one will be in Singida Region and another in Bukoba District, Kagera Region by the end of this year.

The Citizen