Dar es Salaam, Feb. 3 -- DAR ES SALAAM: AZANIA Banks net profit surged by 60.3 per cent in the fourth quarter of last year, driven by a significant rise in net interest income.

The lenders financial statement released recently showed net profit increased to 14.4bn/- at the end of quarter from 8.9bn/- recorded in a comparative quarter in 2023.

The surge in net profit is attributed to the increase in net interest income by 13.9 per cent to 38.6bn/- at the end of December last year from 33.9bn/- posted in a similar period of a prior year.

However, the lenders non-interest income slightly decreased by 19.7 per cent to 8.91bn/- in Q4 down from 11.1bn/- registered in the same quarter in 2023.

The decline is due to the loss in foreign exchan...