By Vainess Mollel
The Citizen Reporter
Dar es Salaam. Recently released financial statements for Dar es Salaam Stock Exchange (DSE) listed companies are still sending good news to investors who are eager to cash in on the mouth wetting results.
Banks, Finance and Investment index which is influenced by the share price of CRDB, NMB and DCB counters, soared to reach a 1424.64 point last week from 1396.65 during the preceding week, market data shows.
This significant gain in the banking sector is largely an outcome of audited financial statements released last week by the three listed commercial banks.
CRDB Bank was the first one to release its financial statements which showed the bank’s profit before tax as having surged by 112 per cent to Sh80.543 billion last year compared to Sh37.71 billion generated in 2011.
DCB Commercial Bank followed suit, releasing its financial statements on Monday last week (April 8) that showed that it operated profitably in 2012 though the profit declined if compared to the 2011 level.
The NMB Bank released its financial statement last week, showing its profit after tax as having gone up by 35.6 per cent in 2012 to reach Sh97 billion from the Sh71billion level recorded in 2011.
“The bourse is still in the spirit of the rise of price per share across the counters, thanks to the fine-looking financial statements….. this upside trajectory is largely a refraction of profit-taking motives by investors keen to cash on the price surge,” reads a market report by Tanzania Securities Limited.
The active counters lifted the market activity and turnover higher to Sh2 billion from 4,938,638 shares transacted for the last week session compared to Sh825million of 1,756,759 shares of the previous week.
http://www.thecitizen.co.tz/business/13-local-business/30569-bullish-banks-attract-share-buyers-at-dar-bourse
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