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List of Banks in Tanzania in 2024

As of May 2024, 47 licensed banks are operating in Tanzania: 34 commercial banks, 4 community banks, 4 microfinance banks, 2 development banks, 1 Non-Bank Financial Institution, 1 House Financing Company, and 1 Mortgage Refinancing Company.

Commercial Banks: 34
Absa Bank
Commercial Bank
MD/CEOObedi Laiser
African Banking Corporation (ABC)Commercial BankMDImani John Bgoya
Akiba Commercial Bank (ACB)Commercial BankMDSilvest Arumasi
Amana Bank
Commercial BankMD
Abubakar Athman Ali
Azania BankCommercial BankMD
Esther Mang'enya
Bank of Africa (BOA)
Commercial BankMD
Esther Cecil Maruma
Bank of BarodaCommercial BankMDAditya Narayan Singh
Bank of IndiaCommercial BankMDAntaryami Sarangi
Canara Bank
Commercial BankCEO
Tanjore Balaji Rao
China Dasheng Bank
Commercial BankCEOCheng Ji
CitibankCommercial BankMD/CEO
Geofrey Mchangila
CRDB BankCommercial BankMD/CEO
Abdulmajid Nsekela
DCB Commercial BankCommercial BankMDSabasaba Moshinghi
Diamond Trust Bank (DTB)Commercial BankCEO
Ravneet Chowdhury
EcobankCommercial BankMDCharles Asiedu
Equity BankCommercial BankMD & CEOIsabela Maganga
Exim BankCommercial BankCEOJaffari Matundu
Guaranty Trust Bank (GTBank)
Commercial BankMDOdunayo Akinyede
Habib African BankCommercial BankMDShaheen Hassan Rizvi
I&M Bank
Commercial BankCEO
Zahid Mustafa
International Commercial Bank (ICB)Commercial BankCEOSanjeev Anand
KCB BankCommercial BankMD
Cosmas Kimario
Letshego Faidika BankCommercial BankCEO
Baraka Munisi
Mkombozi Commercial Bank (MKCB)Commercial BankMDRespige Kimati
Mwalimu Commercial Bank (MCB)
Commercial BankCEO
Richard Makungwa
Mwanga Hakika BankCommercial BankMDJagit Singh
National Bank of Commerce (NBC)Commercial BankMD
Theobald Sabi
NCBACommercial BankMD/CEO
Claver Serumaga
National Microfinance Bank (NMB)Commercial BankCEO
Ruth Zaipuna
Peoples' Bank of ZanzibarCommercial BankMDArafat Haji
Stanbic BankCommercial BankCEO
Manzi Rwegasira
Standard Chartered BankCommercial BankCEO
Herman Kasekende
Tanzania Commercial Bank (TBC)Commercial BankCEO
Adam Mihayo
United Bank for Africa (UBA)Commercial Bank MD/CEO
Gbenga Makinde
Community Banks: 4
Kilimanjaro Cooperative BankCommunity Bank
Godfrey Joe Ng'ura
Mufindi Community Bank (MuCoBa)Community BankGM
Phlip Raymond
Tandahimba Community BankCommunity BankGM
Yahya Jumanne Kiyabo
Uchumi Commercial BankCommunity BankGMSamwel Wado
Microfinance Banks: 4
Finca Microfinance BankMicrofinance Bank
Edward Talawa
Selcom Microfinance Bank (formerly AccessBank)Microfinance BankCEO
Julius Ruwaichi
VisionFund Tanzania Microfinance BankMicrofinance Bank
Chilala Hakooma
Yetu Microfinance Bank (taken over by NMB)Microfinance Bank
Umaiya Abbas Masoli
Development Banks: 2
TIB Development BankDevelopment Bank
Lilian Mbassy (acting)
Tanzania Agricultural Development Bank (TADB)Development Bank
MDFrank Nyabundege
Non-Bank Financial Institutions: 1
Maendeleo BankNon-Bank Financial InstitutionsMD
Ibrahim Mwangalaba
House Financing Companies: 1
First Housing Company TanzaniaHouse Financing CompanyCEOSasa Chonza
Mortgage Refinancing Company: 1
Tanzania Mortgage Refinance Company (TMRC)Mortgage BankCEOOscar Mgaya

The top 10 biggest banks in Tanzania by assets in 2022 were:

1. CRDB with TZS 11.6 trillion (USD 4.9 billion)

2. NMB with TZS TZS 10.2 trillion (USD 4.2 billion)

3. NBC with TZS 2.8 trillion (USD 1.2 billion)

4. Exim with TZS 2.3 trillion (USD 1 billion)

5. DTB with TZS 1.6 trillion (USD 680 million)

6. PBZ with TZS 1.4 trillion (USD 590 million)

7. Stanbic with TZS 1.3 trillion (USD 560 million)

8. StanChart with TZS 1.3 trillion (USD 560 million)

9. Citi Bank with TZS 1.3 trillion (USD 560 million)

10. Absa with TZS TZS 1.1 trillion (USD 460 million)

11. TCB with TZS 1.1 trillion (2021) (USD 460 million)

Tanzania Banking Network

In 2022, the total number of bank branches and ATMs fell to 987 from 990 in 2021. Large banks accounted for 55.2% of the branch network. Urban centers accounted for 51.6% of total branches.

In 2013, the Central Bank of Tanzania (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.

The agent banking business has grown regularly since then in the number of agents, number of transactions, and value of deposit and withdrawal transactions. In 2022, the total number of bank agents increased by 53% to 75,238 from 48,923 in 2021.

Deposits through agents increased by 71.1% to TZS 61,915.9 billion. The agent banking business is dominated by large banks which accounted for 59.7%. Urban centers accounted for 56.5% of total operating bank agents.

Last Update: 6th June 2024