Tanzania Banking Survey 2011 - Tanzania Chamber of Commerce ...

pal Investment Officer of ABT’s lead shareholder Access-Holding in Germany, and was closely involved in the establishmentand licensing process of ABT and its networkbanks in Madagascar, Nigeria and Liberia• Julius Msikela, Chief Financial Officer• Peter Konopka, Credit ManagerSelected Financial TrendsAccessBank Tanzania made losses during the first five quartersof operations between Q4 2007 and Q4 2008. A substantialjump in profit was recorded in Q1 2009. This was followedby a loss-making Q2 2009 before a gradual rise in profits inthe last two quarters of 2009. The profits remained constantduring the first two quarters of 2010, but fell into negative territoryin the second half of the year. Interest income has beenincreasing significantly, especially in 2009. Non-interest income,which has been essentially flat, ticked up by almost 50%between Q3 2010 and Q4 2010 driven by commissions and fees.Since the start of operations, AccessBank has grownits loan portfolio fairly aggressively, from TZS 268 million inQ4 2007 to TZS 13.9 billion by Q1 2010. This trend, however,flattened after Q1 2010. Deposits have increased from TZS136 million to over TZS 17 billion. As the loan portfolio hasgrown, the share of non-performing loans climbed to 3.5% byQ3 2010 before falling to 2.8% in Q4 2010.Paid-up share capital made up 100% of shareholdersfunds in Q4 2007. The losses incurred during AccessBank’sfirst nine quarters reduced paid-up capital to just under 80%by Q4 2009. Profits in Q1 and Q2 2010, driven by growth ininterest income have helped stabilize the share of paid-upcapital at around 80%, while accumulated losses made up almost20% of total capital.24 Serengeti Advisers