In order to better serve large enterprises, NCBA Bank Tanzania is closing extra branches in certain areas.
The recent announcement by Standard Chartered Tanzania that it will discontinue its retail banking operations; in favor of institutional banking further proves that the mass market is less lucrative.
The NCBA Group has expanded rapidly in the retail market in other nations, such as Kenya and Uganda; thanks to digital banking services provided in collaboration with telecommunications firms.
The Nairobi Securities Exchange-listed company’s total investment in Tanzania would increase from the Sh5 billion at the end of last year to Sh7 billion as a result of the fresh capital deployed there.