Banks

Tanzania Banks

As of June 2016, there are 41 commercial banks in Tanzania, 3 financial institutions, 12 community banks, 4 microfinance banks, 2 private credit reference bureaus and 3 financial leasing companies.

BankTypeTitle Name
AccessBankCommercial BankCEO Hedvig Sundberg
African Banking CorporationCommercial BankMDDana Botha
Akiba Commercial BankCommercial BankMDIsrael Chasosa
Amana BankCommercial BankMDMuhsin Masoud
Azania BankCommercial BankActing CEO Geofrey Dimoso
Bank MCommercial BankCEO Sanjeev Kumar
Bank of AfricaCommercial BankMDAmmishaddai
Owusu- Amoah
Bank of BarodaCommercial BankMDPrem Narayan Sharma
Bank of IndiaCommercial BankMDSanjib Sarkar
Barclays BankCommercial BankMDAbdi Mohamud Mohamed
Canara BankCommercial BankMDSeshagiridas Hathibelagal
China Commercial BankCommercial BankActing CEO Anganile Mwankuga
CitibankCommercial BankMDJoseph Carraso Junior
Commercial Bank of AfricaCommercial BankActing MDGift Shoko
CRDB BankCommercial BankMDCharles Kimei
DCB Commercial BankCommercial BankMDEdmund Mkwawa
Diamond Trust BankCommercial BankCEO Viju Cherian
EcobankCommercial BankMDEnoch Osei-Safo
Exim BankCommercial BankCEO
Dinesh Arora
Equity bankCommercial BankMDJoseph Iha Wanje
FBME BankCommercial BankStatutory Manager Lawrence Mafuru
First National BankCommercial BankCEO David Wayne
Aitken
Habib African BankCommercial BankMDHassan Rizv
I & M BankCommercial BankCEO
Baseer Mohammed
International Commercial BankCommercial BankCEO
Viswanathan
Sundaram
KCB BankCommercial BankMDMoez Mir
Letshego Bank Commercial BankCEO
Yohane Kaduma
Mkombozi Commercial BankCommercial BankMDEdwina Lupembe
Mwalimu Commercial BankCommercial BankCEO
Ronald Safiel
Manongi
National Microfinance BankCommercial BankMDIneke Bussemaker
NBC BankCommercial BankMD
Alan Marks
NIC BankCommercial BankMDPankanj Kansara
Peoples’ Bank of
Zanzibar		Commercial BankMDJuma Hafidhi
Stanbic BankCommercial BankMDKenrick Wayne Cockerill
Standard Chartered BankCommercial BankMD
Sanjay Chamanlal Rughani
Tanzania Postal BankCommercial BankCEO
Sabasaba Moshingi
Tanzania Women's BankCommercial BankMDMargareth Chacha
TIB Corporate BankCommercial BankMDFrank Mugeta
Twiga BancorpCommercial BankCEO
Cosmas Kimario
United Bank for AfricaCommercial BankMDPeter Mule Makau
UBL BankCommercial BankCEO
Faisal Jamall
Covenant Bank for
Women Tanzania
Community BankMDSabetha Mwambenja
Efatha Bank Community BankMDMauro Mhule
Kagera Farmers’
Cooperative Bank		Community BankGMAnthony Nzigula
Kilimanjaro
Cooperative Bank

Community BankGMElizabeth Makwabe
Maendeleo BankCommunity BankMDIbrahim Mwangalaba
Mbinga Community
Bank 		Community BankActing GMEdwin Namnauka
Meru Community
Bank		Community BankGMJofram Mbinga
MUCOBA BankCommunity BankGMBenny Mahenge
Mwanga Rural Community Bank Community BankMDAbby Ghuhia
Njombe Community
Bank		Community BankMDMichael Ngwira
Tandahimba Community Bank Community BankGMSteven Mugwagi
Uchumi Commercial
Bank		Community BankGMAngela Moshi
EFC Tanzania
Microfinance
Bank		Microfinance BankMD Bas Nierop
Finca Microfinance
Bank		Microfinance BankCEOIssa Ngwegwe
Hakika Microfinance
Bank		Microfinance BankCEOAugustine Ntomola
Vision Fund Tanzania Microfinance BankMicrofinance BankCEOCosmus Kowuoche

Total assets of Tanzania’s banks reached TZS22.5tn in 2014, a growth of 15.11% from TZS19.5tn in 2013, while total liabilities grew by 14.81% from TZS17tn in 2013 to TZS19.5tn in 2014.

Total capital increased by 17.10% from TZS2.5tn in 2013 to almost TZS3tn in 2014. The growth was attributed to the entrance of new banking institutions, retention of profits and additional capital injection, the Banks of Tanzania (BOT) indicates.

Tanzania Banking Network

According to the latest banking report of BOT, the banking institutions in Tanzania had an overall branch network of 702 branches in 2014, compared to 642 in 2013.

Most of the branches were located in major cities of Dar es Salaam, Arusha, Mwanza, Mbeya, and Moshi.

Dar es Salaam had 255 branches which constituted 36.32% of all branches, followed by Arusha, 50 branches (7.12%), Mwanza, 46 (6.55%), Mbeya, 38 (5.41%) and Moshi, 32 (4.56%). In 2014, the overall number of banking agents grew by 180%, from 591 in 2013 to 1,652.

This is a result of the comprehensive agent banking guidelines introduced by BOT in 2013 that permit for the first time licensed banks and financial institutions to appoint retail agents for their banking services.

Accordingly, the introduction of agent banking provides a mechanism, through which banks can profitably extend their services to previously unbanked lower income individuals.


Bank of Tanzania close down 5 banks

Tanzania Banking January 5, 2018

Tanzania Close Down 5 Banks

The Bank of Tanzania (BOT) has revoked the banking license of Covenant Bank, Efatha Bank, Njombe Community Bank, Kagera Farmers’ Cooperative Bank, and Meru Community…