In year 2022, TMRC managed to record another commanding profit before tax on account of maintaining a good investment portfolio and effective cost management. The Company recorded a Profit Before Tax of TZS 2.93 billion (2021: TZS 2.30 billion). The result was mainly attributed to creation of new good investment and maintenance of existing good investment portfolio as well as effective cost management. During the year, total net interest income increased from TZS 7.05 billion in the prior year to TZS 7.50 billion, an increase of 6.41%. TMRC balance sheet size grew during the year from TZS 198.6 billion recorded in previous year to TZS 221.7 billion, an increase of 11.61%.
TMRC contribution to the growth of the housing market is expected to significantly increase over the coming years as the new financing will build on the achievements of the ongoing Housing Finance Project (HFP) which is playing a key role in developing the mortgage market. In addition, bond issuance long term line of credit will continue to be the source of further TMRC lending to Primary Mortgage Lenders (PMLs) which continue to offer mortgages to their clients. So far, TMRC has issued bond in three Tranches. Tranche one in 2018 amounting to TZS 12.52 billion, Tranche two in 2019 amounting to TZS 9.18 billion and Tranche three in 2020 amounting to TZS 8.88 billion which were all oversubscribed.