- Personal Banking
- Corporate Banking
- Loan Products
MAENDELEO BANK PLC – MB is a result of strategical decision made by the Evangelical Lutheran Church of Tanzania-Eastern and Coastal Diocese in 2008. Its core objective is to create investment value to its shareholders and optimize the growth of the bank through synergies and common development plans. Along with this, the Bank is set to deliver excellence by serving customers with efficiency and courtesy.
The Micro, SME and middle corporate segments are the Bank’s preferred markets. The Bank targets customers that operate with a modest risk profile and have a fairly well defined structure.
The bank set itself the target of enhancing its depositor market share from 0.0% to 1% in 2015. It was cautiously penetrating the upper-end of the local corporate segment where competition from bigger banks is fierce. The growing pressure on government agencies to run their businesses independent of central government creates a new low risk but stable market that has huge potential.
The success of the market positioning of the Bank will be based on its ability to utilise technology instead of motor and bricks branch network, as the bank has one branch and capital resources to meet the financial needs of customers in its chosen segments is limited. It needs to reduce concentration of risk assets and diversify its deposit-base further so as to bring down its weighted average cost of funds. It is also critical that its cost-to-income ratio drops and source of fee-based income diversifies