PRESS RELEASE

For Immediate Release

NIC Bank Tanzania receivesTzs 15.4 Billion Loan Facility
Funding to boost Corporate, Retail and SME banking
Dar es Salaam, Aug 8, 2015NIC Bank Tanzania Ltd. has
received a long term loan of USD $7 million (Tzs15.4 Billion) from
Proparco, which is the private sector financing arm of Agence
Francise de Development (AFD).The proceeds of the loan injection
will go towards strengthening and growing the Banks positioning in
the Corporate and SME segments in Tanzania.
We see great growth potential in this market. With the new loan
injection we are looking to strengthen our position in the market and
to tap into the opportunities ahead. The loan will be used to fund
the Banks ambitions growth plans in the coming years which will
see it focus its growth on Corporate and SME lending, in line with
the Group, said NIC Bank Tanzania MD Mr. Pankaj Kansara.
NIC Bank Tanzania is banking on the emerging opportunities in asset
finance, trade finance and infrastructure project financing to
increase its market share, driven by an improved business
framework that has helped attract foreign direct investment and
spur growth.
The Bank also stands to benefit from the successful capital raising
initiative taken by the Group in Kenya last year which saw it roll out
a successful Bond and Rights Issue. The Group had earmarked the
additional capital for strengtheningits position across the East
African Region.
Two years ago, NIC Bank Tanzania undertook a successful Rights
Issue of Tzs 8.5 billion with the parent company increasing its
shareholding to 69.84 per cent. The Bank operates on a fully
integrated system offering a seamless cross border platform for
Corporates and Customersoperating within the East African
Community region.
Ends//.

About NIC Bank Tanzania,

For further information, please contact:
NIC Bank Tanzania Managing Director Pankaj Kansara,Pankaj.kansara@nicbank.com
About NIC Bank Tanzania
NIC Bank Tanzania Limited is a commercial bank licensed by the Bank of Tanzania. NIC
Bank acquired a stake in Tanzanias Savings and Finance (S&F)
Commercial Bank in 2009 and successfully re-branding it to NIC Bank
Tanzania in 2010.
NIC Bank Tanzania currently has a total of six branches, namely, Arusha,
Mwanza, Kahama and three in Dar es Salaam Ohio, Samora and
Kariakoo.NIC Bank Tanzania prides itself as a one stop shop by providing a
wide range of financial products and services that include asset finance,
personal and business current accounts, savings accounts, trade finance,
insurance premium financing, foreign exchange services and institutional
banking.
The NIC Bank Group has grown tremendously over the years. The Group
also operates in Uganda, through its wholly owned subsidiary NC Bank
Uganda Limited. NC Bank is licensed to conduct commercial banking
business as well as to provide finance and operating leases.