The lender increased its holding through a capital injection and the buyout of minority shareholders, signalling confidence in Tanzania’s banking sector.
By
Edna Mwenda
Business Reporter
Nation Media Group
I&M Group spent Sh1 billion last year to acquire an additional 17 percent stake in its Tanzanian banking subsidiary through a capital injection and the buyout of other investors.
The lender’s profit after tax and minority interest rose from Sh7.73 billion in the previous similar period, overtaking Standard…
I&M Group made Sh10.2 billion after tax in the six months to June, with Rwanda and Uganda growing fast while Kenyan earnings…
The bank’s stock has emerged as the top gainer in the banking segment on the NSE over the past year, beating Co-operative Bank…
I&M achieved a 24.8 percent growth in total operating income over the three-months period to Sh16.1 billion from Sh12.9 billion…
The lender expanded its workforce and branch network across East Africa as customer numbers and profits continued to grow.
Access Bank Plc, the parent company of Access Bank Tanzania, has signed a $500 million agreement with the International Finance…
