ABSA Bank Tanzania says
The Bank's Managing Director and Chief Executive Officer,
"The strong growth is attributed to a set of diverse sectors that provide further stability as there is limited over reliance on specific sectors," he said.
He said also that
Furthermore, he said through Absa group has sponsored Absa Financial Market Index 2022 (AFMI) an annual publication, which is a strategic tool that can be leveraged by policy makers to drive strategic and informed decisions for the development of financial markets which is key in attracting foreign capital flows into African countries including
Apart from the strong economic growth that supports Absa's investment, also the bank has over the years focused on ensuring that it provides prudent financial advice to its customers and ensuring lending practices follow strict professional assessment of loan proposals.
"By doing this, we protect our customer's businesses while ensuring we minimise credit losses. Our non-performing loans position has continued to improve and is well below industry average," he said.
He added, "In some of our portfolios the NPL number is well below the required 5 per cent and we will continue to improve this performance,"
On the bank's plan on financial inclusion,
He said
"
He said
Digital innovation is transforming lives in diverse areas such as telecommunication, banking, agribusiness, and healthcare provision.
"There is a vibrant start-up community and we in Absa have played a role in supporting the growth and development of these startups in partnership with local and international start-up accelerators," he said.
He said with this context of increasing digital adoption, banks must continuously innovate and provide solutions for customers.
"We also innovate and digitize to ensure that our services are seamless and hassle free for the customer. In a bid to cement our digitally led proposition, we have embarked on digital transformation journey that's inseparable from innovation," he said.
He noted further, "We are fully committed to deliver innovative solutions that help our customers get things done and this was demonstrated in 2021 when we won Best Financial Institution in using ICT at the 5th
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