Dar es Salaam Community Bank (DCB), whose official name is DCB Commercial Bank, but is commonly called DCB Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. DCB is a private, publicly traded,

microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

bank, initially established to serve the banking needs of the poorest of the poor in the city of Dar-es-Salaam and its

suburb A suburb (more broadly suburban area) is an area within a metropolitan area, which may include commercial and mixed-use, that is primarily a residential area. A suburb can exist either as part of a larger city/urban area or as a separate ...

s. In 2012, DCB was issued a national banking license, to extends its services nationwide. The stock of the bank is listed on the Dar es Salaam Stock Exchange. , the total asset base of DCB was valued at approximately TSh 143.97 billion (US$85.7 million). At that time, the bank's shareholders' equity was valued at about TSh 31.98 billion (US$19 million) Customer deposits at 31 December 2013 totalled TSh 80.3 billion (approximately US$47.8 million).

History

Dar es Salaam Community Bank was incorporated in September 2001. In October 2001, DCB received a provisional banking licence from the Bank of Tanzania, the national banking regulator. DCB commenced commercial banking services in April 2002. In 2003, the Bank of Tanzania issued DCB with an unrestricted banking license as a regional unit bank, whose services are restricted to serving the Dar es Salaam area only. In 2008, the stock of DCB was floated on the Dar es Salaam Stock Exchange through the issuance of an initial public offering. In April 2012, the bank received a national commercial banking license, authorising DCB to expand its operations nationwide. The bank rebranded as DCB Commercial Bank and began to open branches outside

Dar es Salaam Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over s ...

Ownership

The shares of the bank's

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol DCB. The bank's stock is owned by the following corporate entities and individuals:

Branch Network

, DCB maintains branches at the following locations: # Main Branch – DCB House, Magomeni Mwembechai, Morogoro Road,

# Arnautoglu Branch – Arnautoglu Building, Mnazi Mmoja, Bibi Titi Road, Dar-es-Salaam # Magomeni Branch – DCB House, Magomeni Mwembechai, Morogoro Road,

# Temeke Branch – Junction of Temeke Road & Evereth Road,

# Tabata Branch – Tabata Old Dampo Area,

# Mabibo External Branch – Garage Area, Mandela Road,

# Ukonga Branch – Aviation House, Banana Area, Nyerere Road at Kitunda Road,

# Chanika Branch – Chanika Road,

Governance

The bank's activities are directed by an eight-person

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

. Paul Milyango Rupia, one of the non-executive directors is the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

. Edmund Pancras Mkwawa, serves as the managing director.

References

External links