Maendeleo Bank Plc Named Fastest Growing SME Bank Tanzania 2026
International recognition from Global Banking & Finance Review highlights the Bank's growing focus on small and medium enterprises
DAR ES SALAAM: Maendeleo Bank Plc has been named the Fastest Growing SME Bank in Tanzania 2026 by Global Banking & Finance Review, published by GBAF Publications Ltd.
The prestigious award recognises the Bank’s rapid growth in serving small and medium enterprises (SMEs) across Tanzania.
The recognition reflects a deliberate strategic focus.
Business growth, including SME growth, is one of the three key pillars of Maendeleo Bank’s Strategy 2025–2030, which focuses on Talent and Culture Transformation, Technology Transformation, and Business Growth.
Over the past year, the Bank has achieved several significant milestones. Notably, it has obtained a national banking licence, expanded its branch network to six locations, including the recently established Arusha Branch, conducted its annual SME Clinic to identify training and product needs directly from SME customers, and developed a consolidated approach to SME product bundling, designed to give each SME customer visibility into the full range of relevant banking products in a single visit.
“This recognition belongs to our SME Unit and frontline staff across our branch network, whose work with small and medium enterprises earned it,” said Mr. Lomnyaki Saitabau, Managing Director of Maendeleo Bank Plc.
“It reflects a direction we set deliberately in our Strategy 2025–2030: building products and services around what SME customers actually need. We see it as encouragement to keep investing in that direction, and as a reason for business owners across Tanzania to take a closer look at what we offer.”
The award follows a strong first half of 2026 for the Bank overall. Net profit after tax rose by 60.8 per cent, while income from fees and commissions increased by 95.8 per cent, both compared with the same period in 2025.
About the Award
The Fastest Growing SME Bank award is presented annually by Global Banking & Finance Review, an international financial media platform published by GBAF Publications Ltd since 2010.
The platform covers banking, capital markets, investment, and financial technology across global markets. The award recognises financial institutions that combine rapid growth with innovative, high-quality services for small and medium enterprises.
About Maendeleo Bank Plc
Maendeleo Bank Plc is a Tanzanian commercial bank founded in 2013 by the Evangelical Lutheran Church in Tanzania, Eastern and Coastal Diocese, and listed on the Dar es Salaam Stock Exchange. The Bank serves Church institutions, retail, and business banking customers through six branches, with a strategic ambition to reach TZS 0.5 trillion in total assets and attain Tier 1 status by 2030.
The Bank operates under the brand promise, “Together in Progress”.