Tanzania, April 21 -- Dar es Salaam. Three state-owned banks - TIB Development Bank, Azania Bank and Tanzania Commercial Bank (TCB) - are burdened by risky loans, capital inadequacy and non-compliance with regulatory requirements, according to the Controller and Auditor General (CAG).

The Citizen sought comments from the managements of the three lenders, but it was only Azania that came up with a detailed explanation.

So far so good for Azania

As for Azania Bank, the management says much as it welcomes the CAG's audit findings, there was nothing to worry as there has been a lot of improvements during the past few months after the audit.

The bank's managing director, Ms Esther Mang'enya, said while the CAG noted two key issues in respe...