Stanbic Bank expands physical and digital footprint across Tanzania

TANZANIA – Stanbic Bank Tanzania has announced that it has expanded its presence in the country by adding 3 new collection centres in Arusha, Mbeya and Mwanza in efforts to provide their customers the convenience and flexibility to transact.

Apart from the newly erected service centers that are aimed at serving traders, the bank has also deployed a number of cash deposit machines in Dar es Salaam and up country, allowing bulk cash deposits even when banking hours are over.

Stanbic Head of Personal Market, Mussa Kitoi, said the bank focused on expanding and upgrading the bank’s traditional and digital branches in order to cater to their increasingly technologically savvy and connected customers across the country.

At a time when industry players are closing branches, Stanbic is focused on expanding and upgrading the bank’s traditional and digital branches in order to cater to their increasingly technologically savvy and connected customers across the country.

“As the banking sector landscape changes, it is imperative that we continue making choices that allow us to offer outstanding and innovative services to our customers both on the ground and online,” Mr Kitoi said.

The bank is also embarking on a digital transformation journey that will ensure its clients get the best of both worlds.

“We are responding to our customers’ requests and are now streamlining our efforts to serve [the market] more effectively through technology and enhanced products,” he said.

These new developments are an increase of 33per cent of Stanbic footprint in the country.

The bank has also invested in its digital platforms that simplifies access to all banking services and provides convenience for SMEs allowing them to run their business with ease. Stanbic will increase its branch network by establishing a presence in Dodoma early next year followed by Tanga.

This comes at a time when the bank saw their profit levels rising during the third quarter of 2019 compared to a similar period in 2018.

Stanbic Bank’s net profit jumped from Sh4.359 billion (US$1.9m) during the third quarter of 2018 to Sh6.023 billion (US$2.63m) during the third quarter of 2019.

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