DCB Bank takes pride in provision of Sh1tr loans

Dar es Salaam. The DCB Commercial Bank said yesterday that it has disbursed a total of Sh1 trillion during the past two decades of its existence.

The money went to 400,000 customers, according to chairperson of the bank’s board of directors, Ms Zawadia Nanyaro.

DCB Commercial Bank Plc was registered as a Limited Company on September 6, 2001 but in April 2002, it started business as a regional microfinance institution.

On June 12, 2003 it was issued with a licence to carry out banking business as Dar es Salaam Community Bank Limited and managed to break even in 2005 after only three years of its operation.

In 2008, DCB became the first bank in Tanzania to be listed to Dar es Salaam Stock Exchange (DSE) and in 2012, it changed its name to DCB Commercial Bank Plc, after receiving a licence to carry out banking business country wide as a fully-fledged Commercial Bank.

Ms Nanyaro said at the weekend that the loans now benefit all business people, small and medium enterprises and many other clients.

“After renewing the license and expanding the scope, the bank was able to compete in the market serving small, medium and large customers and managed to open nine branches, five service centers and more than 700 agents in different parts of the country,” she said.

The DCB CEO, Godfrey Ndalahwa said for two decades, the bank has witnessed growth registering 200,000 customers from the initial 6,530 customers. He said this has enabled the bank to increase customer deposits year-on-year by Sh125 billion in December last year, with a target of Sh162 billion by the end of this year.

“We have successfully designed and imported a wide range of high-tech products including digital banking services with the aim of moving DCB better services closer to customers while being integrated into the payment system, government (GePG),” he said.