It is an envious milestone that has been struck by East African bank, which has been in operations for a decade now. Bank M, which has been named among the fastest growing financial institutions in Tanzania, celebrated its tenth anniversary with a tremendous growth in its services to the sub-Saharan nation, according to CEO of the bank, Jacqueline Woiso.
“The bank is the first bank to cross one Trillion in total assets in less than ten years. This landmark has been achieved by the bank in its 9th year of operations, whereas the closest any other bank has taken to reach this landmark is 17 years,” she said.
“While marking the 10th year in the market, it’s not only the numbers which we are celebrating, but it’s the tremendous achievements which are evidently seen for the past 10 years. Considering the bank’s overwhelming in different aspects being in Technology, service delivery, Profitability as well as Corporate Social Responsibility” said Ms. Jacqueline.
The youngest bank in top 10, Bank M has been growing steadily over the past 10 years of operation, “we have a high benchmark in performance and we have managed to attain incomparable success including turning profitable in the 2nd year of our operations. The bank has consistently recorded one of the highest growth rate in the banking sector. We closed the year 2016 with a robust performance with the total assets growing to over TZS 1Trillion” added Ms. Jacqueline.
Ms Jacqueline added that within ten years of existence, Bank M has contributed substantially in supporting community development activities through their Corporate Social Initiative- Money @heart engaging with high caliber partners in facilitating various projects in Health, Education, Water & sanitation, Environment conservation and promotion of local artists and entrepreneurs.
Bank M commenced its operations on 27th July 2007 with one branch along Nyerere road and thereafter, two more branches were commissioned in Dar es Salaam, one in Arusha and Mwanza.
Bank M has been internationally recognized in the banking & finance industry with several international awards from the highly reputable organizations including the “Commercial bank of the year-Tanzania for 2015” presented at the London Stock Exchange, the “Best Corporate Bank in East Africa”, the “Best Community Development Bank” in East Africa and recently the “Best Corporate Bank-Tanzania” and the Best Customer Service-Tanzania by Banker Africa.
“We are still determined to take this forward and continue to position our bank as a brand to reckon with” attributed Ms Jacqueline.
In addition to recording tremendous achievements in its operations for the past 10 years of its existence, Bank M attained gender parity – which is based on principles of equal employment opportunities to all staff on their proven track record and talent.
“On behalf of Bank, we show our great appreciation to our clients for trusting us and keeping us as their Preferred Banker since when we opened our doors in July 2007. It has always been a pleasure taking care of you for the past ten years. The growth and achievements we’ve experienced over the years is because of our clients. We appreciate your trust, and we’ll do our best to continue to maintain our high standards of service” she concluded.