Global Banking & Finance Review recognition highlights the Bank’s growing focus on small and medium enterprises
DAR ES SALAAM, TANZANIA — August 31, 2026: Maendeleo Bank Plc has been named Fastest Growing SME Bank Tanzania 2026 by Global Banking & Finance Review, published by GBAF Publications Ltd, in recognition of the Bank’s rapid growth in serving small and medium enterprises (SMEs) across Tanzania.
The recognition reflects Maendeleo Bank’s deliberate strategic focus on supporting SMEs through products and services designed around their business needs.
Business growth, including SME growth, is one of the three key pillars of Maendeleo Bank’s Strategy 2025–2030. Over the past year, the Bank has expanded its branch network to six locations, while continuing to strengthen its services to SME customers.
The Bank also conducted its annual SME Clinic, an initiative designed to identify training and product needs directly from SME customers. In addition, Maendeleo Bank has developed a consolidated approach to SME product bundling, enabling SME customers to gain visibility into the full range of relevant banking products during a single visit.
RECOGNITION OF SME TEAM AND FRONTLINE STAFF
Commenting on the recognition, Maendeleo Bank Plc Managing Director, Mr. Lomnyaki Saitabau, said the award reflects the efforts of the Bank’s SME Unit and frontline staff working closely with small and medium enterprises.
“This recognition belongs to our SME Unit and to frontline staff across our branch network, whose work with small and medium enterprises earned it. It reflects a direction we set deliberately in our Strategy 2025 to 2030: build products and service around what SME customers actually need.”
Saitabau added that the recognition provides encouragement for the Bank to continue investing in its SME-focused strategy while inviting SME owners across Tanzania to explore the products and services offered by Maendeleo Bank.
STRONG FIRST HALF PERFORMANCE
The recognition comes as Maendeleo Bank continues to record strong financial performance.
For the first half of 2026, the Bank’s net profit after tax increased by 60.8%, compared with the same period in 2025.
Meanwhile, income from fees and commissions rose by 95.8% over the same period, reflecting increased activity across the Bank’s products and services.
ABOUT THE AWARD
The Fastest Growing SME Bank award is presented annually by Global Banking & Finance Review, an international financial media platform published by GBAF Publications Ltd since 2010.
The publication covers banking, capital markets, investment and financial technology across global markets.
The award recognizes financial institutions that combine rapid growth with innovative, high-quality services for small and medium enterprises.
ABOUT MAENDELEO BANK PLC
Maendeleo Bank Plc is a Tanzanian commercial bank founded in 2013 by the Evangelical Lutheran Church in Tanzania (ELCT), Eastern and Coastal Diocese, and listed on the Dar es Salaam Stock Exchange (DSE).
The Bank serves Church institutions, retail and business banking customers through its six branches.
Maendeleo Bank operates under its Strategy 2025–2030, which is built around three key pillars: Talent and Culture, Technology, and Business Growth.
The Bank operates under the brand promise “Together in Progress.”
Source: Maendeleo Bank Plc
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