Dar es Salaam, Feb. 4 -- DAR ES SALAAM: I&M Bank Tanzanias profit surged by 28.8 per cent in the fourth quarter of the previous year, fuelled by a significant increase in net interest income, signalling strong financial performance.

According to the banks latest financial statement released recently, the net profit rose to 6.4bn/-, up from 1.5 bn/- in the same quarter in 2023.

This growth in profit is primarily attributed to an increase in net interest income which reached 21.96 bn/- at the end of Q4 compared to 17.05 bn/- in the same quarter 2023.

Additionally, the banks loan portfolio expanded by 1.14 per cent in the fourth quarter, reflecting increased customer trust.

The statement indicated that the bank issued loans worth 435.02b...