- Aug 16, 2007
Wednesday, 14 November 2012 23:01 By Alawi Masare The Citizen Reporter Dar es Salaam. The National Bank of Commerce (NBC) continued to register losses in the third quarter as its non-performing loans surged.NBCs quarterly balance sheet indicates that the firm recorded Sh10.6 billion in its loss account as at September 30, 2012, a relatively low amount compared to Sh14.6 billion recorded in the same account in the second quarter. Non-Performing Loans and Advances increased from Sh82.4 billion in June to Sh104.9 at the end of the third quarter. The Non-Performing Loans share to the total gross loans increased from 11.1 per cent in June to 14.7 per cent this September. The bank also did not collect enough deposits as the deposit growth rate was still in the negative edge for both quarters. It was -1.77 per cent compared to -3.16 per cent recorded in June. Customer deposits reduced from Sh1.26 trillion in June this year to Sh1.23 trillion at the end of the third quarter. On the other hand, NBC improved its interest income from Sh27.3 billion to Sh31.6 billion while fees and commissions on the non-interest income increased from Sh8.3 billion to Sh8.4 billion.Investment in government securities (treasury bills and bonds) increased from Sh213.1 billion in June to Sh249.1 billion last quarter. Source Tanzania Business News - Local Business News, International Business News, Dar es Salaam Business News, Business News Tanzania.