Dar es Saalam, June 25 -- Prime Minister Kassim Majaliwa has commended TIB Corporate Bank (TIB Corporate) for doubling its working capital from 206bn/- in 2015/2016 to 409bn/- in 2018/2019.
The Premier showered the praises here yesterday when officiating at the launch of TIC Corporate' Capital Branch in Dodoma, the capital city of Tanzania. He was also impressed that deposits by customers tripled from 110bn/- to 338bn/- during the period under review.
"It is as well worth noting that the bank has been extending credit facilities at affordable interest rates of between nine and 15 per cent. "This is very reasonable given the fact that there some banks which have rates of up to 22 per cent," Mr Majaliwa noted.
He, however, urged the bank t...