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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text of the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Maendeleo Bank

MBP · Dar es Salaam Stock Exchange · Incorporated in Tanzania · Company statements

On this page
Company details
Legal name
Maendeleo Bank PLC
Incorporated in
Tanzania
Listing
MBP on the Dar es Salaam Stock Exchange, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Net Interest income

    TZS 14.5 billion

    14,514,726 TZS thousands · p47

    +19.8% vs 2024

    Printed 'Net Interest income' (p47).

  • Net operating income

    TZS 16.9 billion

    16,876,408 TZS thousands · p47

    +21.1% vs 2024

    Printed 'Net operating income' (p47): net interest income after impairment plus net fees, commission and other income; the bank's own top-line total. No revenue line is printed.

  • Profit for the year

    TZS 4.75 billion

    4,753,778 TZS thousands · p47

    +28.9% vs 2024

    Printed 'Profit for the year' (p47).

  • Total assets

    TZS 202 billion

    202,268,304 TZS thousands · p48

    +33.8% vs 2024

    Printed 'Total assets' (p48).

  • Deposits

    TZS 136 billion

    136,260,978 TZS thousands · p48

    +31.0% vs 2024

    Printed 'Deposits' (note 24, p48), the customer deposits line.

  • Total equity

    TZS 26.1 billion

    26,095,881 TZS thousands · p48

    +14.5% vs 2024

    Printed 'Total equity' (p48).

Large amounts are rounded for reading (TZS million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in TZS thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, TZS thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Interest income calculated using the effective interest method 25,787,001 20,061,208 15,976,857
Interest expense calculated using the effective interest method (11,272,275) (7,941,877)1 (6,424,390)
Net Interest income 14,514,726 12,119,332 9,552,467
Written off bad loans2 –3 –3 –3
Impairment losses (895,718) (1,124,611) (1,506,006)
Net Interest income after Impairment4 13,619,008 10,994,721 8,046,461
Fees, commission and other income5 3,273,955 2,958,432 3,013,365
Fees, commission and other expenses6 (16,555) (19,016) (19,663)
Net fees, commission and other income7 3,257,400 2,939,416 2,993,702
Net operating income8 16,876,408 13,934,137 11,040,163
Foreign exchange gain/loss (1,852) 133,605 84,748
Employee benefit expenses (5,346,728) (4,741,689) (3,813,238)
General and administration costs (5,527,295) (4,670,011) (3,875,141)
Depreciation, right of use asset and amortization9 (979,922) (797,017) (811,232)
Operating expenses (11,855,797) (10,075,112) (8,414,863)
Profit for the year before tax 5,020,612 3,859,026 2,625,300
Income tax (266,834) (172,205) (277,636)
Profit for the year 4,753,778 3,686,820 2,347,664
Other comprehensive income –10 –10 –10
Total comprehensive income for the year 4,753,778 3,686,820 2,347,664
  1. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_gqmhjwvftf95.nii_after_impairment.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (8)
  1. Annual report dated 2025-03-28 prints (7,941,876) (thousands, p50) for this line and year.
  2. “Written off bad loans” is an issuer-specific line, not mapped to a shared definition: Loans written off directly to profit or loss (nil both years in the statement).
  3. “Net Interest income after Impairment” is an issuer-specific line, not mapped to a shared definition: Net interest income less written-off loans and impairment losses.
  4. “Fees, commission and other income”: mapping to a shared definition is uncertain. Printed 'Fees, commission and other income': includes other income not separated in the statement.
  5. “Fees, commission and other expenses”: mapping to a shared definition is uncertain. Printed 'Fees, commission and other expenses'.
  6. “Net fees, commission and other income”: mapping to a shared definition is uncertain. Printed 'Net fees, commission and other income': includes other income.
  7. “Net operating income” is an issuer-specific line, not mapped to a shared definition: The issuer's net operating income: net interest income after impairment plus net fees, commission and other income.
  8. “Depreciation, right of use asset and amortization”: mapping to a shared definition is uncertain. One line for depreciation of property and equipment and right-of-use assets and amortisation.

Balance sheet

Balance sheet, TZS thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash and balances with Bank of Tanzania 17,400,913 10,400,773 7,056,211
Placements and balances with other banks 19,226,845 14,137,155 11,623,226
Government securities 48,808,875 29,473,423 25,428,332
Loans and advances to customers 108,968,752 88,587,217 74,085,924
Inventories 0 0 24,433
Other assets 2,474,224 2,516,212 2,430,160
Intangible assets 433,677 203,937 139,537
Property and equipment 2,312,460 2,322,991 1,648,148
Leasehold improvements1 407,083 584,076 337,749
Tax receivable (Payable) 321,842 808,536 (31,278)
Deferredtax2 1,913,632 2,178,012 1,951,325
Total assets 202,268,304 151,212,334 124,693,767
Share capital 14,226,821 13,121,983 13,121,983
Share Premium 799,292 799,292 799,742
Advance towards share capital3 –4 –4 –4
Regulatory reserves 2,233,130 790,950 532,997
Retained earnings 8,836,638 8,082,200 4,653,333
Total equity 26,095,881 22,794,424 19,107,604
Deposits 136,260,978 104,024,141 90,787,947
Other liabilities 3,140,643 2,825,809 2,116,387
Borrowings 36,830,255 21,567,959 12,681,379
(total of the liabilities) 176,172,423 128,417,909 105,586,163
Total Equity and Liabilities 202,268,304 151,212,334 124,693,767
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_equity.
Notes and alternative reported figures (3)
  1. “Leasehold improvements” is an issuer-specific line, not mapped to a shared definition: Note 22(b).
  2. Printed under different labels across filings: “Deferred tax”; “Deferredtax”.
  3. “Advance towards share capital” is an issuer-specific line, not mapped to a shared definition: Note 31: amounts received towards share capital not yet issued.

Cash flow

Cash flow, TZS thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Profit for the year before tax1 5,020,612 4,108,406 2,625,300
Amortization of intangible assets2 128,784 25,794 58,859
Interest on Lease Liability3 94,694 83,237 70,045
Written Off bad loans4 2,063,613 –5 –5
Interest expense on borrowings6 3,741,747 1,102,288 968,982
Impairment on Financial Assets7 147,581 1,124,611 1,506,006
Depreciation of property and equipment8 674,145 636,040 605,177
Amortization of leasehold improvements9 176,993 135,183 147,196
(subtotal after the adjustments)10 12,048,169 7,215,559 5,981,565
Increase in loans and advances11 (22,445,148) (15,570,775) (13,111,723)
Increase in inventories12 –13 24,433 4,709
Decrease/(increase) in other assets14 (189,569) (13,851) (922,301)
Increase in customer's deposits15 32,177,384 13,236,194 12,958,782
Movement in Tax receivable16 (583,854) (78,905) Not reported in this filing17
Increase in other liabilities18 220,140 646,273 265,159
Income tax paid (300,250) (945,198) (506,776)
Cash generated from operating activities 20,926,872 1,999,801 1,997,678
Purchase of government securities19 (25,835,452) (21,191,787) (28,235,109)
Received from matured govt. securities20 6,500,000 17,200,000 25,174,961
Acquisition of intangible assets (358,524) (90,193) (52,474)
Acquisition of property and equipment (663,614) (622,563) (198,415)
Leasehold improvements costs incurred21 –22 –22 –22
Net cash used in investing activities (20,357,590) (4,704,543) (3,311,037)
Increase in Borrowings 20,000,000 13,000,000 6,500,000
Repayment in Borrowings (4,318,389) (2,551,719) (3,774,259)
Interest paid on borrowings (3,741,747) (1,243,903) (968,982)
Dividend paid to shareholders –23 –23 (718,850)
Repayment of principal portion of lease liabilities (419,316) (729,585) (729,585)
Paid up share capital/right Issue24 –23 –23 Not reported in this filing25
Net cash generated from financing activities 11,520,548 8,474,793 823,755
Net increase/(decrease) in cash 12,089,829 5,770,051 (489,604)
Net foreign exchange difference (36,876) 88,441 36,379
Cash and cash equivalents 1 January 24,537,928 18,679,436 19,132,662
Cash and cash equivalents 31 December 36,627,758 24,537,928 18,679,437
Increase in placements with other banks26 Not reported in this filing27 (2,513,929) (2,724,606)
Movement in statutory minimum reserve28 Not reported in this filing29 Not reported in this filing2930 52,869
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_gqmhjwvftf95.cf_before_working_capital.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  4. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (26)
  1. “Profit for the year before tax” is an issuer-specific line, not mapped to a shared definition: Starting line of the indirect-method operating cash flows.
  2. “Amortization of intangible assets” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 22(a)(iii)).
  3. “Interest on Lease Liability” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 6).
  4. “Written Off bad loans” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 8(b)).
  5. “Interest expense on borrowings” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 6).
  6. “Impairment on Financial Assets” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 8(a)).
  7. “Depreciation of property and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 22(a)(i)).
  8. “Amortization of leasehold improvements” is an issuer-specific line, not mapped to a shared definition: Adjustment (note 22(a)(ii)).
  9. “(subtotal after the adjustments)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal: profit before tax plus the adjustments.
  10. “Increase in loans and advances” is an issuer-specific line, not mapped to a shared definition: Operating.
  11. “Increase in inventories” is an issuer-specific line, not mapped to a shared definition: Operating.
  12. “Decrease/(increase) in other assets” is an issuer-specific line, not mapped to a shared definition: Operating.
  13. “Increase in customer's deposits” is an issuer-specific line, not mapped to a shared definition: Operating.
  14. “Movement in Tax receivable” is an issuer-specific line, not mapped to a shared definition: Operating (note 15).
  15. Not reported in this filing: Not printed under this label: the statement of cash flow of the 2024 report (p53) has no 'Movement in Tax receivable' line. The operating line with note 15 is printed as 'Movement in statutory minimum reserve' (2023: 52,869; 2024: (78,905)) and is already transcribed as native.co_gqmhjwvftf95.cf_statutory_minimum_reserve; tax appears as 'Income tax paid' ((506,776)). Text layer, and checked on the page image. See the mapping open item.
  16. “Increase in other liabilities” is an issuer-specific line, not mapped to a shared definition: Operating.
  17. “Purchase of government securities” is an issuer-specific line, not mapped to a shared definition: Investing (note 17).
  18. “Received from matured govt. securities” is an issuer-specific line, not mapped to a shared definition: Investing (note 17).
  19. “Leasehold improvements costs incurred” is an issuer-specific line, not mapped to a shared definition: Investing (note 22).
  20. “Paid up share capital/right Issue” is an issuer-specific line, not mapped to a shared definition: Financing.
  21. Not reported in this filing: The line 'Paid up share capital/right Issue' carries a 2024 entry only (a dash); the 2023 column is blank (p53). Text layer, and checked on the page image: the cell is empty, not a dash.
  22. “Increase in placements with other banks” is an issuer-specific line, not mapped to a shared definition: Operating.
  23. Not reported in this filing: The line 'Increase in placements with other banks' carries a 2024 amount only ((2,513,929)); the 2025 column is blank (p50). Text layer, and checked on the page image: the cell is empty, not a dash or zero.
  24. “Movement in statutory minimum reserve” is an issuer-specific line, not mapped to a shared definition: Operating (note 15).
  25. Not reported in this filing: Not printed under this label: the statement of cash flow of the 2025 report (p50) has no 'Movement in statutory minimum reserve' line. The operating line with the same note reference 15 is printed as 'Movement in Tax receivable' (2025: (583,854); 2024: (78,905), the same 2024 figure the 2024 report printed as 'Movement in statutory minimum reserve') and is already transcribed as native.co_gqmhjwvftf95.cf_tax_receivable. Text layer, and checked on the page image. See the mapping open item.
  26. Annual report dated 2025-03-28 presents this line for this year: (78,905) (p53). Not shown in this column, which follows one filing's presentation.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)21 158.52 140.43 89.42
Notes and alternative reported figures (2)
  1. “Basic and diluted earnings per share”: mapping to a shared definition is uncertain. Printed without a unit (158.52; 2024: 140.43). Note 13 heads the line 'Basic and diluted earnings per share (TZS'000)', but its own figures (profit TZS'000 4 753 778 over 29 989 thousand weighted shares) give 158.52 shillings per share; stored as TZS per share.
  2. Earnings / (loss) per share: printed as “Basic and diluted earnings per share”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid to shareholders 0printed “–”, read as nil TZS thousands Annual report, p50
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid to shareholders 0printed “–”, read as nil TZS thousands Annual report, p50
31 Dec 2023 Dividends paid (cash flow statement) Dividend paid to shareholders (718,850) TZS thousands Annual report, p53

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Maendeleo Bank PLC Annual Report and Audited Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Auditax International, Certified Public Accountants (Tanzania), unmodified opinion · signed

    Auditor's sign-off: Auditax International; Dr. Straton Makundi (FCPA 1747)

    Final status: Independent auditor's report (PDF pp42-46) with an unmodified opinion on the bank's financial statements (folios 50 to 138), signed by hand by Dr. Straton Makundi (FCPA 1747) for Auditax International, Certified Public Accountants, Dar es Salaam, dated 30 March 2026 with the firm's dated stamp '30 MAR 2026' (PDF p46, page image). The report of those charged with governance states approval by the Board of Directors on 27 March 2026, signed by the chairperson and dated 30 March 2026 (PDF p39, page image); the statement of financial position is signed by the board chairman, managing director and head of finance (PDF p48, page image).

    Document date
    30 Mar 2026
    Published
    13 May 2026
    Auditor's report
    30 Mar 2026
    Board approval
    27 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · TZS thousands (printed “TZS'000'”)
    • Statement of cash flows (PDF p50, checked on the page image): the 2024 'Profit for the year before tax' is printed 4 108 406, while the statement of profit or loss prints 3 859 026 for 2024 (PDF p47). Kept as printed.
    • Statement of cash flows 2025 (PDF p50, page image): cash at 31 December (36 627 758) equals opening cash (24 537 928) plus the net increase (12 089 829) plus 1, without the printed net foreign exchange difference ((36 876)); in 2024 the exchange difference is included (18 679 436 + 5 770 051 + 88 441 = 24 537 928). Kept as printed.
    • Statement of financial position 2025 (PDF p48, checked on a zoomed page render): the unlabelled liabilities subtotal is printed 176 172 423, while its printed lines sum to 176 231 876 (deposits 136 260 978, other liabilities 3 140 643, borrowings 36 830 255; difference 59 453). Total equity (26 095 881) plus the printed subtotal equals the printed total equity and liabilities (202 268 304). Kept as printed.
    • The printed 'Operating expenses' total includes the foreign exchange gain/loss line printed above the expense lines. 'Net operating income' is after impairment (an issuer concept). Total liabilities are printed as an unlabelled subtotal (PDF p48).
    • Earnings per share is printed without a unit (158.52; 2024: 140.43), basic and diluted; note 13 labels it '(TZS'000)' but its own figures give shillings per share. Stored as TZS per share (scale 1), mapping ambiguous.
    Technical details
    File
    130 pages, with a text layer
    SHA-256
    614177f578ca7215241a897a8bbe8ae565dc4ede5e0ab8c8871d47ff9fe80d0f
    Entity as printed
    Maendeleo Bank PLC (the "Bank")
    Exchange copy
    retrieved 2026-10-08T18:07:16Z

  • Maendeleo Bank PLC Annual Report and Audited Financial Statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: Auditax International, Certified Public Accountants (Tanzania), unmodified opinion · signed

    Auditor's sign-off: Auditax International; Dr. Straton Makundi (FCPA 1747)

    Final status: Independent auditor's report (PDF pp45-49) with an unmodified opinion on the bank's financial statements, signed by hand for Auditax International by Dr. Straton Makundi (FCPA 1747), Certified Public Accountants, Dar es Salaam, dated 28 March 2025 (PDF p49, page image). The report of those charged with governance states approval by the Board of Directors on 27 March 2025, signed by the chairperson and dated 28 March 2025 (PDF p42, page image); the statement of financial position is signed by the board chairman, managing director and head of finance (PDF p51, page image).

    Document date
    28 Mar 2025
    Auditor's report
    28 Mar 2025
    Board approval
    27 Mar 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    company statements · TZS thousands (printed “TZS'000'”)
    • Statement of cash flow (PDF p53, checked on the page image): the 2024 'Profit for the year before tax' is printed 4 108 406, while the statement of profit or loss prints 3 859 026 for 2024 (PDF p50). Kept as printed.
    • Statement of cash flow 2023 (PDF p53, checked on the page image): the printed financing lines (6 500 000 - 3 774 259 - 968 982 - 718 850 - 729 585 = 308 324) do not add to the printed 'Net cash generated from financing activities' 823 755 (difference 515 431); the printed total is consistent with the printed net decrease in cash (489 604). Kept as printed.
    • Statement of cash flow: cash and cash equivalents at 1 January 2024 are printed 18 679 436 while cash at 31 December 2023 is printed 18 679 437 (PDF p53). Kept as printed.
    • Statement of financial position at 31 December 2023 (PDF p51, checked on the page image): the printed equity lines (13 121 983 + 799 742 + 532 997 + 4 653 333 = 19 108 055) exceed the printed total equity 19 107 604 by 451, and the printed liabilities lines (90 787 947 + 2 116 387 + 12 681 379 = 105 585 713) fall short of the printed unlabelled liabilities subtotal 105 586 163 by 450; total equity and liabilities agree with total assets. Kept as printed.
    • The auditor's report refers to the financial statements 'set out on pages 52 to 138' (PDF p45), while the statements are printed on folios 50-53. 'Tax receivable (Payable)' is printed among assets and is negative (31 278) at 31 December 2023 (PDF p51). Share premium is printed 799 292 at 31 December 2024 and 799 742 at 31 December 2023 (PDF p51, page image).
    • The printed 'Operating expenses' total includes the foreign exchange gain/loss line printed above the expense lines. 'Net operating income' is after impairment (an issuer concept). Total liabilities are printed as an unlabelled subtotal (PDF p51).
    • Earnings per share is printed without a unit (140.43; 2023: 89.42), basic and diluted; stored as TZS per share (scale 1), mapping ambiguous, as in the FY2025 spec.
    Technical details
    File
    138 pages, with a text layer
    SHA-256
    d3365f0ac5a8bc82293f56c19401668551846ef3a0aa3ec9dabdba3acd3bf7d6
    Entity as printed
    Maendeleo Bank PLC (the "Bank")
    Exchange copy
    retrieved 2026-10-08T18:14:10Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text of the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

Tanzania country page · Company methodology and coverage