ZANZIBAR, April 13 -- PEOPLES Bank of Zanzibar (PBZ) assets have grown by 10 per cent to a historic high of 2.75tri/- last year, driven by growth in lending and customer deposits.

PBZ Managing Director Fahad Soud Hamid said over the weekend that the increase from 2.5tri/- in 2024 reflects the banks strengthening financial position and its expanded capacity to support lending and economic empowerment.

The managing director said the assets growth were mainly pushed by total lending and financing that climbed up sharply by 28 per cent to 1.55tri/- last year from 1.21tri/- in the previous year, mostly issued as conventional loans and 409bn/- through Islamic financing.

The bank ratio of non-performing loans dropping to 1.95 per cent, well b...