Nine more bank branches added in the sector in the first quarter of 2019

Dar es Salaam. Commercial banks in Tanzania have added at least nine more branches in the first quarter of 2019 compared to the same period in 2018.
In the first quarter of 2019 the Bank branches increased to 952 from 943 that were operational during the same period in 2018.
This is according to a survey by The Citizen on the first quarter of 2019 financial statements among 26 banks which include large, medium and small.
According to the survey,  the number of branches at most commercial banks remained the same, these include banks such as,  Vision Fund Microfinance Bank Ltd, Standard Chartered Bank, ACB Bank, DCB Commercial Bank, Equity Bank,  I$M Bank, KCB Bank, DTB Bank, Mwanga Commercial Bank, Maendeleo Bank and Uchumi Commercial Bank.

Some of the banks however had to reduce or increased the number of the existing branches.
UBL bank reduced its branches in the first quarter of 2019 to one from two in the same period of 2018,while First National Bank of Tanzania Ltd reduced to eight from 10
during the same period.
CRDB Bank also reduced the number of its branches from 260 to 237, while NBC reduced from 51 to 49 during the same period, Eco bank went down from seven to six.
However some banks witnessed growth in the number of branches with Azania Bank growing its n umbers from 17 to 19 which increased to 19 branches from 17, while China Dasheng Bank opened operations with one branch.
NIC Bank increased to six from five, whereas Mkombozi Commercial Bank
added more units bringing its numbers to 10 from six, TPB Bank increased to 36 from 30.
NMB on the other hand added seven more branches to 224 from 217 and  Mwalimu Commercial Bank increased its branches to two from one.