Dar es Salaam. Maendeleo Bank Ltd is targeting to attain a Tier 1 status in 2030 after its assets grew by 34 percent last year following digital investment, workforce strengthening, branch expansion and lending growth.
According to audited financial statements for the year ended December 31, 2025, the bank’s total assets stood at Sh202.268 billion from Sh151.2 billion recorded previously.
The bank’s Head of Finance, Mr Nolasco Charles, told The Citizen yesterday that the bank had already begun implementing its 2025–2030 strategic agenda, which focuses on strengthening human capital, accelerating technological transformation and expanding business operations.
“The implementation of the plan began in July last year and since then we have established an innovation unit bringing together specialists to develop new financial products while strengthening cyber-security systems to safeguard operations and customer data,” he said.
Mr Charles noted that the bank has continued to demonstrate strong business resilience, recording profits for 11 consecutive years since 2015.
The lender ais listed on the Dar es Salaam Stock Exchange (DSE) through the Enterprise Growth Market (EGM) window.
Financial results for the year ended December 31, 2025 show continued momentum across key indicators. Total income rose by 26 percent to Sh29.05 billion from Sh23.00 billion recorded in 2024, while net interest income increased by 28 percent to Sh25.78 billion from Sh20.06 billion.
According to Mr Charles, profit before tax climbed by 30 percent to Sh5.02 billion from Sh3.85 billion, while profit after tax rose by 29 percent to Sh4.75 billion from Sh3.68 billion in the previous year.
Mr Charles stressed that the bank’s loan book expanded by 23 percent during the period, supported by improving asset quality as non-performing loans declined to 4.51 percent from 4.76 percent recorded in 2024.
