National Bank of Malawi plc (NBM), the leading bank in the country, has completed the acquisition of a 51% controlling stake in Akiba Commercial Bank…
As of March 2021, there are 47 banks in Tanzania: 36 commercial banks, 5 community banks, 4 microfinance banks, and 2 development banks.
Tanzania Banks - 2021
|Commercial Banks: 36|
|Absa Bank ||Commercial Bank||MD/CEO||Abdi Mohamed |
|AccessBank ||Commercial Bank||CEO||Julius Ruwaichi |
|Akiba Commercial Bank (ACB)||Commercial Bank||MD||Augustine Akowuah |
|Amana Bank ||Commercial Bank||MD||Idrish Rashidi |
|Azania Bank||Commercial Bank||MD||Charles Jackson Itembe |
|Bank of Africa (BOA)||Commercial Bank||MD/CEO||Joseph Iha Wanje |
|Bank of Baroda||Commercial Bank||MD||Rajendra Mohrir |
|Bank of India||Commercial Bank||MD||Ashwani Kumar Negi |
|Canara Bank||Commercial Bank||CEO||Hathibelagal Seshagiridas |
|China Dasheng Bank ||Commercial Bank||MD||Hussein Khamis |
|Citibank||Commercial Bank||MD/CEO||Omar Hafeez |
|Commercial Bank of Africa (CBA)||Commercial Bank||CEO||Gift Shoko |
|CRDB Bank||Commercial Bank||MD/CEO||Abdulmajid Mussa Nsekela |
|DCB Commercial Bank||Commercial Bank||MD||Godfrey Ndalahwa |
|Diamond Trust Bank (DTB)||Commercial Bank||CEO||Viju Cherian|
|Ecobank||Commercial Bank||MD||Charles Asiedu |
|Exim Bank||Commercial Bank||CEO ||Jaffari Matundu |
|Equity bank||Commercial Bank||MD||Robert Gatimu Kiboti|
|First National Bank (FNB)||Commercial Bank||CEO||Warren Adams |
|Guaranty Trust Bank (GTBank)||Commercial Bank||MD||Jubril Adeniji |
|Habib African Bank||Commercial Bank||MD||Shaheen Hasan Rizvi |
|I&M Bank ||Commercial Bank||CEO ||Baseer Mohammed |
|International Commercial Bank (ICB)||Commercial Bank||CEO||Villy Vellayappan |
|KCB Bank||Commercial Bank||MD||Cosmas Kimario |
|Letshego Bank||Commercial Bank||CEO||Andrew Tarimo |
|Mkombozi Commercial Bank||Commercial Bank||MD||Respige Kimati |
|Mwalimu Commercial Bank ||Commercial Bank||CEO||Richard Louis Makungwa |
|National Bank of Commerce (NBC)||Commercial Bank||MD||Theobald Sabi |
|National Microfinance Bank (NMB)||Commercial Bank||CEO||Ruth Zaipuna |
|NIC Bank||Commercial Bank||MD||Margaret Karume |
|Peoples' Bank of Zanzibar||Commercial Bank||MD||Juma Hafidh |
|Stanbic Bank||Commercial Bank||CEO||Kevin Wingfield |
|Standard Chartered Bank||Commercial Bank||CEO ||Sanjay Rughani |
|TIB Corporate Bank||Commercial Bank||CEO||Frank Nyabundege |
|TPB Bank||Commercial Bank||CEO||Sabasaba Moshinghi |
|United Bank for Africa (UBA)||Commercial Bank||MD/CEO||Kingsley Ulinfun|
|Community Banks: 5|
|Kilimanjaro Cooperative Bank||Community Bank||CEO||Elizabeth Makwabe |
|Maendeleo Bank||Community Bank||MD||Ibrahim Mwangalaba |
|Mucoba Bank||Community Bank||GM||Phlip Raymond |
|Tandahimba Community Bank||Community Bank||GM||Steven Mugwagi |
|Uchumi Commercial Bank||Community Bank||MD||Angela Moshi |
|Microfinance Banks: 4|
|Finca Microfinance Bank||Microfinance Bank||CEO||Edward Talawa |
|Mwanga Hakika Microfinance Bank||Microfinance Bank||MD||Jagit Singh |
|VisionFund Tanzania Microfinance Bank||Microfinance Bank||CEO||Joyce Temu |
|Yetu Microfinance Bank||Microfinance Bank||MD||Altemius Millinga |
|Development Banks: 2|
|TIB Development Bank||Development Bank||MD||Charles Singili|
|Tanzania Agricultural Development Bank (TADB)||Development Bank||MD||Japhet Justine |
Tanzania’s banking sector recorded a profit before tax of TZS 590 billion in 2019, compared to TZS 313 billion in 2018, representing an increase of 88%.
The total assets of Tanzanian banks reached TZS 33 trillion in 2019, representing a growth of 9% from TZS 30 trillion in 2018.
Total liabilities grew by 9% from TZS 25.7 trillion in 2018 to TZS 28.1 trillion in 2019.
Total capital increased by 8% from TZS 4.7 trillion in 2018 to TZS 5 trillion in 2019. The growth was attributed to an increase in profitability recorded by banks during the period.
Tanzania Banking Network
The banking institutions in Tanzania had an overall branch network of 957 branches in 2019, compared to 878 in 2018.
Most of the branches were located in major cities of Dar es Salaam, Arusha, Mwanza, Moshi and Dodoma. Dar es Salaam had 290 branches which constituted 30.3% of all branches, followed by Arusha, 68 branches (7.1%), Mwanza, 67 (7%), Moshi, 46 (4.8%), and Dodoma, 41 (4.3%).
In 2013, the BoT introduced comprehensive agent banking guidelines that permit licensed banks and financial institutions to appoint retail agents for their banking services.
This provides a mechanism through which banks can profitably extend their services to previously unbanked lower-income individuals.
In 2019, the overall number of banking agents grew by 51%, from 18,827 in 2019 to 28,358.
Latest update: 16th March 2021
Sources: Bank of Tanzania (BoT)
Last Update: 1
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