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Friday, March 22, 2019

AZANIA BANK GETS SH 121 BILLION CAPITAL BOOST FOR BANK M TAKEOVER


Azania Bank shareholders have raised Sh120.5 billion in additional capital to boost liquidity after acquiring Bank M Tanzania Limited.

The amount brings Azania Bank’s the total capital to Sh184.5 billion. The Bank of Tanzania (BoT) authorized the merger of the two banks with effect from January 2, 2019 after Bank M went under due to liquidation problems.


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