The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.


Standard Chartered Bank

In recent years Tanzania has been one of Africa's fastest-growing countries, posting GDP up 6.3% in 2002, 5.6% in 2003 and 5.8% in 2004. That consistent growth has helped support the continued expansion of Tanzania's banking industry at both a retail and wholesale level. Barclays Tanzania, for example, posted net profits in 2004 up 38%. More recently Stanbic Tanzania has enjoyed a spectacular turnaround in its performance in the first quarter of 2005.

Standard Chartered Bank, however, takes this year's award for best bank in Tanzania based on its solid profitability and product innovation. Net revenues rose by 29% in 2004, and net profits before tax were up 42.4%. Loans and advances also grew by more than 51%, crossing the TSh200 billion mark ($180.7 billion), giving Standard Chartered the largest loan portfolio in Tanzania. That expansion continued in the first quarter of 2005, with loans and advances reaching TSh217 billion and net profits rising by 15% on the same period in 2004.

In terms of product innovation, highlights for Standard Chartered Tanzania in 2004/05 included the launch of a Visa Electron card and the relaunch of the Excel Banking Business product for high-net-worth individuals.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree