NCBA Bank Tanzania Limited, is a merged bank between

Commercial Bank of Africa (Tanzania) Commercial Bank of Africa (Tanzania) (CBAT) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a subsidiary of the Commercial Bank of Africa Group and ha ...

and NIC Bank Tanzania. It is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

licensed by the Bank of Tanzania, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

and national banking regulator.

Location

The headquarters of the bank are located on the 1st, 2nd and 10th Floor, at Amani Place Building, along Ohio Street, in the

central business district A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city ...

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 ...

, Tanzania's financial capital. The geographical coordinates of the bank's headquarters are:06°48'41.5"S, 39°17'15.0"E (Latitude:-6.811528; Longitude:39.287500).

Overview

NCBA Bank Tanzania is a medium-sized financial services provider in Tanzania. Its total assets as of 31 December 2022 was approximately TSh 428 billion (US$183 million), with TSh 46.7 billion (US$19.9 million), in shareholders equity. At that time, it was categorized as a ''Tier II Commercial Bank'' in Tanzania. The bank is a subsidiary of NCBA Group Plc, a financial services conglomerate with headquarters in Kenya and subsidiaries in

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

, Tanzania,

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

and

Ivory Coast Ivory Coast, also known as Côte d'Ivoire, officially the Republic of Côte d'Ivoire, is a country on the southern coast of West Africa. Its capital is Yamoussoukro, in the centre of the country, while its largest city and economic centre is ...

History

NIC Bank Tanzania started as a non-bank financial institution in 1994. In 2004, following the issuance of a banking license by the Bank of Tanzania, the institution converted into a fully fledged commercial bank, under the SFCB name. In May 2009, NIC Bank, a large financial services provider based in

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

and traded on the

Nairobi Stock Exchange The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in ...

, took a 51 percent shareholding position in SFCB. During 2010, the Tanzanian subsidiary successfully re-branded to NIC Bank Tanzania. Commercial Bank of Africa was founded in 1962 in

. Branches were soon opened in Nairobi and

Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...

, Kenya and in

Kampala, Uganda Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country. In July 2005, the Commercial Bank of Africa (CBA) acquired majority shareholding in First American Bank of Kenya, which at the time had a

n subsidiary called United Bank of Africa.

NCBA Group

In September 2019,

NIC Bank Group NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. Location The group's headquarters are ...

received regulatory approval from the Central Bank of Kenya, to merge with

Commercial Bank of Africa Commercial Bank of Africa (CBA) was a financial services provider headquartered in Nairobi, Kenya, the largest economy in the East African Community. CBA was licensed by the Central Bank of Kenya, the central bank and national banking regulator. ...

, forming the NCBA Group Plc, effective 1 October 2019. In July 2020, having secured approval of the relevant banking regulators in Tanzania, NIC Bank Tanzania and Commercial Bank of Africa (Tanzania) merged to form NCBA Bank Tanzania.

Ownership

As of September 2020, NCBA Bank Tanzania is a subsidiary and member of the NCBA Bank Group ( NCBA Group Plc, whose shares of

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 ...

trade on the Nairobi Securities Exchange under the symbol: NCBA.

Branch network

, the bank maintained branches at the following locations: # Amani Place Branch: Ohio Street,

# Kijitonyama Branch: TTCL Building, Bagamoyo Road, Dar es Salaam # PSSSF Branch: Corner of Samora Avenue & Morogoro Road, Dar es Salaam # Nyerere Road Branch: Jamana House, Nyerere Road, Dar es Salaam # Kariakoo Branch: Corner of Sikukuu Street & Aggrey Street, Dar es Salaam # Clock Tower Branch: Clock Tower Street, TFA Building Arusha Arusha # Nyanza Branch: Nyanza Cooperative Union Building, Kenyatta Road, Mwanza # Zanzibar Branch: Muzammil Centre, Mlandege Street,

Zanzibar Zanzibar (; ; ) is an insular semi-autonomous province which united with Tanganyika in 1964 to form the United Republic of Tanzania. It is an archipelago in the Indian Ocean, off the coast of the mainland, and consists of many small islands ...

References

External links

Official Website
{{Economy of Tanzania Banks of Tanzania Dar es Salaam NCBA Group Plc Banks established in 1994 1994 establishments in Tanzania