On 6th December 2018, the International Monetary Fund (IMF) has published its latest Financial System Stability Assessment for Tanzania, based on the work of the…
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.
|AccessBank||Commercial Bank||CEO||Hedvig Sundberg|
|African Banking Corporation||Commercial Bank||MD||Dana Botha|
|Akiba Commercial Bank||Commercial Bank||MD||Israel Chasosa|
|Amana Bank||Commercial Bank||MD||Muhsin Masoud|
|Azania Bank||Commercial Bank||Acting CEO||Geofrey Dimoso|
|Bank M||Commercial Bank||CEO||Sanjeev Kumar|
|Bank of Africa||Commercial Bank||MD||Ammishaddai
|Bank of Baroda||Commercial Bank||MD||Prem Narayan Sharma|
|Bank of India||Commercial Bank||MD||Sanjib Sarkar|
|Barclays Bank||Commercial Bank||MD||Abdi Mohamud Mohamed|
|Canara Bank||Commercial Bank||MD||Seshagiridas Hathibelagal|
|China Commercial Bank||Commercial Bank||Acting CEO||Anganile Mwankuga
|Citibank||Commercial Bank||MD||Joseph Carraso Junior|
|Commercial Bank of Africa||Commercial Bank||Acting MD||Gift Shoko
|CRDB Bank||Commercial Bank||MD||Charles Kimei|
|DCB Commercial Bank||Commercial Bank||MD||Edmund Mkwawa
|Diamond Trust Bank||Commercial Bank||CEO||Viju Cherian|
|Ecobank||Commercial Bank||MD||Enoch Osei-Safo|
|Exim Bank||Commercial Bank||CEO ||Dinesh Arora|
|Equity bank||Commercial Bank||MD||Joseph Iha Wanje|
|FBME Bank||Commercial Bank||Statutory Manager||Lawrence Mafuru
|First National Bank||Commercial Bank||CEO||David Wayne
|Habib African Bank||Commercial Bank||MD||Hassan Rizv|
|I & M Bank||Commercial Bank||CEO ||Baseer Mohammed|
|International Commercial Bank||Commercial Bank||CEO ||Viswanathan
|KCB Bank||Commercial Bank||MD||Moez Mir|
|Letshego Bank||Commercial Bank||CEO ||Yohane Kaduma|
|Mkombozi Commercial Bank||Commercial Bank||MD||Edwina Lupembe
|Mwalimu Commercial Bank||Commercial Bank||CEO||Ronald Safiel
|National Microfinance Bank||Commercial Bank||MD||Ineke Bussemaker|
|NBC Bank||Commercial Bank||MD||Alan Marks|
|NIC Bank||Commercial Bank||MD||Pankanj Kansara
|Peoples’ Bank of|
|Commercial Bank||MD||Juma Hafidhi|
|Stanbic Bank||Commercial Bank||MD||Kenrick Wayne Cockerill|
|Standard Chartered Bank||Commercial Bank||MD||Sanjay Chamanlal Rughani|
|Tanzania Postal Bank||Commercial Bank||CEO ||Sabasaba Moshingi|
|Tanzania Women's Bank||Commercial Bank||MD||Margareth Chacha|
|TIB Corporate Bank||Commercial Bank||MD||Frank Mugeta|
|Twiga Bancorp||Commercial Bank||CEO ||Cosmas Kimario|
|United Bank for Africa||Commercial Bank||MD||Peter Mule Makau|
|UBL Bank||Commercial Bank||CEO ||Faisal Jamall|
|Covenant Bank for|
|Community Bank||MD||Sabetha Mwambenja
|Efatha Bank||Community Bank||MD||Mauro Mhule
|Community Bank||GM||Anthony Nzigula
|Community Bank||GM||Elizabeth Makwabe|
|Maendeleo Bank||Community Bank||MD||Ibrahim Mwangalaba
|Community Bank||Acting GM||Edwin Namnauka
|Community Bank||GM||Jofram Mbinga|
|MUCOBA Bank||Community Bank||GM||Benny Mahenge|
|Mwanga Rural Community Bank||Community Bank||MD||Abby Ghuhia
|Community Bank||MD||Michael Ngwira
|Tandahimba Community Bank||Community Bank||GM||Steven Mugwagi
|Community Bank||GM||Angela Moshi
|Microfinance Bank||MD|| Bas Nierop
|Microfinance Bank||CEO||Issa Ngwegwe
|Microfinance Bank||CEO||Augustine Ntomola|
|Vision Fund Tanzania Microfinance Bank||Microfinance Bank||CEO||Cosmus 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.
On 26th November 2018, the Bank of Tanzania (BOT) issued a notice to the general public to inform that it has issued a banking business…
In the exercise of its powers under Section 56(1)(g)(iii) of the Banking and Financial Institutions Act, 2006, the Bank of Tanzania (BOT) has, effective 2nd August…
The Central Bank of Tanzania (BOT) pursuant to the provisions of Section 30(1)(a) of the Banking and Financial Institutions Act, 2006, has authorized the merger…
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…
The Bank Of Tanzania (BOT) has taken possession of Mbinga Community Bank, revoked its banking business license, and placed it under compulsory liquidation.
The Bank of Tanzania (BOT) issued a public notice on 5th May 2017, revoking FBME Bank Limited banking business license, placing it under liquidation, and…
TanzaniaInvest had the pleasure of interviewing Ineke Bussemaker, MD and CEO of the National Microfinance Bank (NMB), Tanzania.
Tanzania’s Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji (centre), Stanbic Bank Tanzania Board Chairman Hatibu Senkoro (left) and the bank’s Chief Executive Ken…
Stanbic Bank Tanzania has launched a new suite of mobile payments and collection solutions designed to make cash collections and payments more efficient for organizations,…