TPSF marks key milestones in two years of President Samia’s leadership

The banking sector touches almost all areas of our economy, therefore its performance is one of the best economic indicators. Tanzania banks play an important role in capital formation, which is essential for the economic development of a country. An analysis of leading commercial banks in Tanzania, which make up over 95 percent of the banking sector’s profitability, showed a significant increase from over Sh760 billion in 2021 to Sh1.16 Trillion in the year ending 2022. The increase in profitability – coupled with a reduction in levels of Non-Performing Loans (NPLs), increase in mobile money transactions and an increase in both customers’ deposits and loans and advances is a testimony of a growing economy and financial inclusion that lies on the basis of the good business environment currently experienced in the country.

TPSF marks key milestones in two years of President Samia’s leadership

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