Finance Minister Ambassador Khamis Mussa Omar (MP) has praised Azania Bank PLC for its significant contribution to Tanzania’s economic growth, highlighting the bank’s strong management of non-performing loans and support for private sector financing.
Ambassador Omar made the remarks during a meeting with Azania Bank’s management, led by Chief Executive Officer Dr. Esther Mang’enya, who visited the Ministry of Finance’s satellite offices on Madaraka Street, Dar es Salaam, to introduce the bank’s recent performance and initiatives.
“Many banks have reported profits while keeping non-performing loans under control. This is a positive signal for investors as it ensures profitable returns and reduces risks that could affect institutional efficiency, while safeguarding the interests of the public,” said Ambassador Omar.
He commended Azania Bank, one of the country’s major locally-owned banks supported by national social security funds and other stakeholders, for strengthening its position in the financial sector, promoting financial inclusion, and driving private sector growth.
Dr. Mang’enya reported that for the fiscal year ending December 2025, Azania Bank recorded total assets of about TZS 3.68 trillion, customer deposits of TZS 2.50 trillion, and loans worth TZS 2.59 trillion, achieving a post-tax profit of TZS 57.56 billion.
She added that the bank maintained a capital adequacy ratio of 17.19%, well above the minimum regulatory requirement, with non-performing loans at just 1.76%.
The bank remains one of the leading mid-tier banks in Tanzania, ranking fourth among top-performing institutions.
It has built a reputation as a stable, locally-owned bank that contributes to financial sector growth, business development, and the provision of quality services to citizens.
Through partnerships with social security funds and sustainable investment in technology and inclusive banking, Azania Bank continues to play a key role in strengthening Tanzania’s economy and supporting national development.
