Exim Bank Tanzania has reported a strong financial performance for the year ended 31st December 2024, showcasing significant growth across key financial metrics.

The bank’s total assets grew by 4.7%, reaching TZS 3.1 trillion, further solidifying its position as one of Tanzania’s leading financial institutions. Additionally, Loans and advances reached TZS 1.8 trillion, recording an impressive 19.1% annual growth. 

Commenting on the performance, Exim Bank’s Chief Executive Officer, Jaffari Matundu, stated, “Our 2024 results reflect Exim Bank’s commitment to sustainable growth and financial inclusion. We have strategically invested in digital transformation, customer-centric banking, and regional expansion, ensuring that we remain at the forefront of innovation and service excellence.”

The bank’s profit before tax stood at TZS 139.7 billion, a remarkable 52.7% increase from the previous year, while profit after tax reached TZS 90 billion, reflecting a 48.8% growth. “This impressive performance is a result of our enhanced operational efficiency, strategic investments, and ongoing focus on delivering value to our customers. We are grateful to our customers for their continued trust and support, which has been instrumental in achieving these results. Additionally, the favorable business environment has played a crucial role in driving growth, allowing us to capitalize on opportunities that align with our long-term vision”, says the bank’s Chief Financial Officer, Shani Kinswaga.

This expansion is attributed to the bank’s commitment to supporting businesses and individuals through tailored financial solutions and strong asset quality management, as such the bank’s Non-performing Loans (NPL) ratio remains below the regulatory limit at 2.7% as at 31 December 2024. Customer deposits rose to TZS 2.5 trillion, a 4.2% increase, showcasing customer trust and the effectiveness of Exim Bank’s financial products in meeting diverse banking needs. 

The bank’s Chief Financial Officer, Shani Kinswaga, emphasized the institution’s strong financial position: “Our solid financial results underscore our sound risk management framework and operational efficiencies. The significant growth in shareholders’ funds, which have increased by 32.6% to TZS 412.2 billion, reaffirms our long-term commitment to delivering value to our stakeholders.”

Non-funded income, a critical component of revenue diversification, increased by 20.1% to TZS 123.7 billion. This growth reflects the bank's focus on expanding digital banking solutions and alternative revenue streams, driven by ongoing improvements in customer experience through services such as flexible, convenient, and secure digital platforms. 

 Andrew Lyimo, Exim bank’s Head of Retail Banking, highlighted the role of digital banking in driving financial inclusion: “We continue to expand our digital banking ecosystem, providing seamless and secure banking solutions for individuals and businesses. Our focus remains on leveraging technology to enhance customer experiences and drive financial accessibility across Tanzania.”

Looking ahead, Exim Bank remains committed to strengthening its position in the market through continued innovation, strategic partnerships, and expanding its footprint in the region. The bank’s vision for 2025 and beyond includes enhancing financial accessibility, driving economic empowerment, and maintaining its leadership in digital banking solutions. With a strong foundation and a forward-thinking strategy, Exim Bank is poised for continued success in the evolving financial landscape.

Concluding the report, Mr. Matundu reaffirmed the bank’s long-term vision. “These results are a testament to our dedication to sustainable banking, innovation, and customer-centric growth. As we look ahead, our focus remains on expanding our digital capabilities, strengthening our regional presence, and continuing to empower individuals and businesses across Tanzania. We are committed to shaping the future of banking in Tanzania and beyond.”