TPB to consolidate market position with third merger

The memo congratulated the bank’s entire staff for attaining the best performance ever since the bank was established, and it made a profit-before-tax of Sh20 billion. It further stated that the government had made the decision to merge both banks with the aim of making it a larger bank that would implement the government’s objectives - and, at the same time, expand the network of financial products and services to both large and small customers. The memo went on to assure the employees that the merger would not adversely affect their employment and they should continue their work. Other senior banking officials also confided that the The Tanzania Agricultural Development Bank (TADB) was also poised to merge with TIB Development bank in line with the apparent government policy. Contacted on the matter, BoT was not ready to speak on either of the news.

TPB to consolidate market position with third merger

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