THE Dar es Salaam Community Bank (DCB) has posted a cumulative profit after income tax of 1.38bn/-during the year ended in September this year, slightly above than 1.04bn/- recorded during corresponding period in September 2008.

Like many other small banks in Tanzania, DCB's financial results has painted a healthy liquidity position of the community bank, with every indicator recording a positive trend.

This is an indication that, despite the threat from the global financial crisis which started to be felt in September last year, DCB has managed to prove all odds that its portfolio was never injured by the crisis.

However, on a quarterly basis, the bank, which is listed at the Dar es Salaam Stock Exchange´s secondary market posted pre-tax profit of 610.8m/-  during the quarter ended in September 2009 compared with 487.5m/- posted during the similar quarter last year.

The report shows that positive trend were recorded in all of its sources of income, including interest income, fees and commissions as well foreign currencies dealing with transaction. The return on average total assets was at a flat rate of 1 per cent during the quarters under review.

The major growth of the bank´s cash flow were generated from fees and commissions as the report shows that it grew by more than 100 per cent to 354m/- during the third quarter of this year from 116m/- recorded in a similar period last year.

The bank´s interest income grew to a cumulative of 7.1bn/- during the year ended in September this year from 6bn/-  recorded during the year ended in September 2008.

On the quarterly basis, the financial result shows that the bank´s net interest income grew to 1.42bn/-  during the quarter ended in September this year from1.41/- recorded during a similar quarter in 2008.

Like other small banks in the market, especially those confirmed in the city, DCB is among the group of banks that offer joint stand alone services through Umoja Switch Automated Teller Machine.
 
The results show that a number of branches have also increased to four from three and the bank said its plan was to increase the number to reach out many people in Dar es Salaam Region.

The DSE reports show that DCB is among the highly active listed companies. The market trend of the bank at the DSE continues to perform better, ranging from 320/- per share to 470/- share reported the first day of trading at the bourse fourteen months ago.

DCB is the first bank in Tanzania to list at the DSE with the paid up capital of 8.1bn/- from 3.4bn/- in December 2007. This new capital is enough for the bank to apply for a licence to operate countrywide. It has a total of 7,926 shareholders.

DCB reports show that it has issued dividends to its shareholders amounting 1.5bn/- over the last three consecutive years (2006-2008).

For the past three years, the activities of the bank have grown more than two folds. The total assets of the bank increased by 73.6 per cent from 34.5bn/-  in December 2007 to 59.9bn/- in September this year while deposits increased by 48.4 per cent from 28.5bn/- in December 2007 to 42.3bn/- in September 2009.

The bank's branches include the first branch and its headquarters at Arnautoglu Hall as well Magomeni, Temeke and Tabata. All these branches are located within the three municipals of Dar es Salaam Region.