ABSA BANK HOSTS AN IFTAR FOR CLIENTS IN ZANZIBAR

Absa Bank Tanzania Head of Retail Banking, Ndabu Lilian Swere speaks to the media during an  iftar meal hosted by the bank to its Zanzibar customers and stakeholders in the Isles over the weekend.

Absa Bank Tanzania Head of Business Banking, Melvin Saprapasen (right), serves an Iftar meal to one of the bank’s Zanzibar customers at an occasion to break the fast hosted by the bank for its customers and stakeholders in the Isles over the weekend.

Absa Bank Zanzibar Branch Manager, Rabia Abood (left), serves an Iftar meal to one of the bank’s customers, Nuru Mohamed Ali during the occasion.

Absa Bank Tanzania Citizenship Manager, Hellen Siria (left), serves an iftar meal to one of the bank’s Zanzibar customers, at the fast-breaking event.

Absa Bank Zanzibar Branch Manager, Rabia Abood, welcomes some of the invited guests to the Iftar meal hosted by the bank for its customers and stakeholders in the Isles.

Sheikh Khalid Ali Mfaume (second left), represented Zanzibar Chief Mufti at the Iftar meal hosted by Absa Bank. Looking on are Absa Bank  Tanzania Head of Business Banking, Melvin Saprapasen (right), Sheikh Salum Maridhia from Zanzibar Chief Mufti Office (left) and Absa Tanzania Director for Corporate and Investment Banking, Hugo Chilufya.

Absa Bank Tanzania has pledged to maintain the quality of services to its customers to ensure it sustainable growth, it has been revealed in Zanzibar over the weekend.

Speaking during an Iftar dinner hosted for the banks customers to break the fast during the on-going holy month of Ramadhan, Absa's Head of Business Banking, Melvin Saprapasen said: “We are confident about the future as we continue to innovate and come up with new products and solutions that are more digitalised that make it easier for our clients to access and enjoy our services.”

He pointed out the year 2021 had been a very good one from the financial performance perspective as the Bank was able to recover from a reported loss position of TZS 532 million in 2020 to register a Tsh 9.4 billion profit after tax (PAT) in 2021.

“During the year the bank also launched an SME lending product and improved its SME digital transactional banking channel as part of product and customer segments expansion and digital offering improvements,” noted Saprapasen.

“Public sector support participation improved significantly in 2021 as the Bank role to contribute more positively to the socio-economic development of Tanzania continues to gather more pace."

The bank’s Head of Retail Banking, Ndabu Lilian Swere, commenting on the upward trend indicators, said: “during the year 2021, the bank launched a number of innovative product diversifications, including launching a retail mobile lending product in partnership with Tigo Tanzania that has reached thousands of customers and assisted them to access financial services more conveniently and improve their lives and wellbeing.”

Ms Ndabu noted that the bank has a well-established tradition of hosting Iftar dinners each year as part of its policy to shove back to reciprocate customer loyalty, adding that the bank focused on providing services to small, medium and large customers, including working with government and local and international agencies.

Sheikh Khalid Ali Mfaume, representing the chief Mufti of Zanzibar in the event, commended Absa for the gesture, alluding to one of the tales of Prophet Mohammad that ‘ he who feeds a fasting believer is repaid the equivalent of all the blessings of those hosted.”

The bank continues to have a strong capital position and operates well above regulatory and internal capital requirements. The bank’s digital capabilities continued to evolve and improve, attracting more customers and increasing usage from existing customers.

In 2021, Absa Bank Tanzania won several international and local Excellence Awards, including the Best Banking Cards Tanzania Award (by Global Brands Magazine), The Most Innovative Retail Bank, Tanzania Award (by Global Business Outlook) and Best Financial Institution in using ICT 2021 by Tanzania Commission of ICT.