Number of DTB Tanzania branches increases to 28

A customer at a Diamond Trust Bank ATM. FILE PHOTO | NMG
A customer at a Diamond Trust Bank ATM. FILE PHOTO | NMG 

Diamond Trust Bank Tanzania (DTB ) officially opened its Mlimani City branch early this week, bringing to 28 the total number of the lender’s outlets across the country.

The branch, located in the new wing of the Mlimani City Shopping Complex, will offer banking services for seven days in a week.

The deputy permanent secretary in the Ministry of Industry, Trade and investment, Prof Rwegasira Buchweishaija, commended DTB Tanzania for its role in extending financial services in the country.

“We do recognise the role and contribution of DTB Tanzania in the economic growth of this country.”

DTB Tanzania has an asset size of more than TSh1 trillion. It employs over 500 Tanzanians. The lender is major a player in the small and medium-size enterprises (SMEs) segment of the economy.

The bank has issued loans of more than TSh284 billion to SMEs in trading, manufacturing, transport, hospitality and construction sectors, according to data produced by DTB Tanzania board chairman Abdul Samji.

The SME loans represent 44 per cent of the bank’s total loan portfolio.

In 2007, he said, had only four branches in 2007, located in Dar es Salaam, Mwanza and Arusha.

“However, it currently has a total of 28 branches across major urban centres in the country.

“The bank has also significantly improved its product offering through innovative savings products covering all demographics — children, youth, women and the elderly.

We have products for not-for-profit organisations, business entities and sole proprietorship,” said Mr Samji.

DTB Tanzania is part of the Diamond Trust Bank Group, a pan-East African bank with over 130 branches in Tanzania, Kenya, Uganda and Burundi.