Barclays Bank Tanzania Managing Director, Abdi Mohamed (left), addresses participants during the bank’s Economic Forum hosted for its corporate and investment banking clients in Dar es Salaam over the weekend. Far from right are Absa Capital economic researcher, Samantha Singh, Barclays Tanzania CFO, Obedi Laiser and banks Corporate Director, Esther Maruma.
Barclays Bank Tanzania Chief Financial Officer, Obedi Laiser (left), highlights the BBT performance during the bank’s economic forum hosted for its corporate and investment banking clients.
Barclays Bank Tanzania Marketing and Communications Manager, Joe Bendera (right), chats with South Africa’s Absa Capital economic researcher, Samantha Singh (left), during the bank’s economic forum hosted for its corporate and investment banking clients in Dar es Salaam. Second left is BBT Corporate Director, Esther Maruma and the bank’s Marketing Officer, Nasikiwa Berya.
It is all similes for Barclays staff as they share a light moment with customers during the forum.
Barclays Bank Tanzania Managing Director, Abdi Mohamed (centre), talks to a customer during the bank’s economic forum organized for its corporate and investment banking clients in Dar es Salaam.
Some Barclays officials and the bank’s customers socialise during the function.
Barclays Bank Tanzania senior officials exchange views during the forum. From left: Head of Marketing and Corporate Relations, Aron Luhanga, Chief Financial Officer, Obedi Laiser and Marketing and Communications Manager, Joe Bendera.
Barclays Corporate and Investment Banking (CIB) clients were invited for an evening hosted by the bank, whereby the main agenda for the evening was to present the banks 2017 financial performance, future ambitions and the 2018 economic outlook for Tanzania.
Speaking during the event, which took place at the Serena Hotel, Barclays Managing Director, Abdi Mohamed said “We had a tremendous year in 2017, and look forward to exceeding our own expectations in 2018. Our ambition is to create a business that is modern, agile and fit for purpose.
Our focus will still be on ensuring we make our customers’ and clients’ lives easier by simplifying our business processes to better serve our customers and clients, by sustainably reducing costs and improving efﬁciencies. Our continued investment in people, our technology and digital innovation will still be a key component to our success and our commitment to our communities in which we serve will continue to be an area of focus”
In 2017, Barclays was awarded the Best Commercial Bank in Tanzania by the Banker Africa. Abdi continued, “The award received was based on ‘peer voting’, and such, we were proud of this recognition by the industry in Tanzania”.
Also in attendance, was Barclays Chief Financial Officer, Mr. Obedi Laiser, who commented on the banks performance. “As a total bank, our performance in 2017 was the best in the last five years. Our Profit Before Tax (PBT) was TZS 11.3 Billion, which positions Barclays as the ‘Best Performer of the year’. Even though there was an indication that banks would struggle to maintain a favourable NPL ratio, Barclays was able to reduce NPL ratio to 8.5% which is below the industry average.”. He continued, “In 2018 we have set new challenges and goals for ourselves, and we are working harder than ever to ensure that we replicate and surpass our 2017 performance”.
On the economic outlook, Sam Singh an economic researcher from Absa Capital commented “In 2018, Tanzania’s GDP is expected to improve, given the recovery in the Agriculture sector and its long term commitment in the development of industries in the country will help propel further economic developments”