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NCBA Bank Achieves Remarkable Performance in Q1 2023

May 23, 2023

Our bank has achieved remarkable results in the first quarter of 2023, securing the fourth position among mid-sized banks! This incredible achievement is a testament to our unwavering commitment to excellence and our strategic vision for growth.

Claver Serumaga, our esteemed Managing Director and Chief Executive, attributes this outstanding performance to our new Target Operating Model (TOM). This model has set us on a transformative path, enabling us to emerge as a significant player in the Tanzanian economy. By focusing on key growth sectors, we are actively contributing to the development and prosperity of our nation. The MD said this during his interview with The Citizen.

In addition to the impressive operating profit, our recovery strategy for written-off books has yielded exceptional results compared to the same period last year. This underscores our dedication to effective risk management and financial prudence. These combined efforts have fueled our success and contributed to our outstanding results in Quarter 1, surpassing the previous year’s performance.

As we move forward, NCBA remains committed to sustaining this impressive performance throughout the year. We are resolute in our implementation of strategic initiatives, enabling us to navigate the global challenges we face today.

Stay tuned for more updates as we continue to make strides in shaping the future of banking in Tanzania. Together, we will achieve greatness!