By Veneranda Sumila The Citizen
Posted Thursday, October 17 2013 at 00:00
Posted Thursday, October 17 2013 at 00:00
In Summary
Comparatively, though both NMB and CRDB remain on
the list of Africa’s top 100 banks, both of them have lost some steps if
their last year’s ranks are put to consideration.
Dar es Salaam. Only two of Tanzania’s 50 plus
financial entities have the audacity to feature in Africa’s top 100
banks, a new publication shows.
The National Microfinance Bank (NMB) and CRDB are
the only financial entities in Tanzania that have made it to the list of
top 100 banks in Africa in 2013, according to African Business
Magazine.
The October, 2013 Issue of the magazine, published
in London, ranks NMB and CRDB on positions 87 and 94 respectively,
courtesy of the banks’ sound capital, outstanding asset value and
profitability.
In African Business’ definition, the capital
refers to Tier-one which includes capital, reserves, minority interests
and retained earnings. Similarly, the publication measures a bank’s
profits in terms of Pre-tax earnings in millions of United States
Dollars for end financial reporting year.
Comparatively, though both NMB and CRDB remain on
the list of Africa’s top 100 banks, both of them have lost some steps if
their last year’s ranks are put to consideration.
NMB lost four steps while CRDB has lost two steps.
The former was on position 83 in 2012 while the latter stood on
position 92. The coming of new commercial banks – which are well
capitalized and with outstanding assets - in various African countries
last year (2012) might have eroded the prominence of two of Tanzania’s
leading financial entities. Some 10 new banks
SOURCE: THE CITIZEN
