List of International Banks in Tanzania;- Tanzania has more than 20 foreign banks, with more than 8,500 branches and sub-branches. These banks have been authorized by the Bank of Tanzania to conduct banking business in Tanzania. The Tanzania Securities Exchange (the “TSE”) lists 15 foreign banks as having securities listed on the TTE.
This includes both deposit-taking and non-deposit taking institutions such as Exim Bank Tanzania Ltd., Commercial Bank of Africa Limited, Barclays Bank Plc., National Microfinance Bank (NMB) Tanzania Ltd., Habib African Bank Tanzania Ltd., Equity Bank Tanzania Ltd., Guaranty Trust Bank Tanzania Ltd., ICBC branch in Dar es Salaam (China Export & Credit Insurance Corporation’s representative office), etcetera.
International Banks in Tanzania
1. Access Bank
Access Bank is a commercial bank in Uganda. It is one of the licensed commercial banks in the country, the others being Stanbic Bank, Cooperative Bank and Barclays Bank.
The bank’s headquarters are located on Bombo Road, in Kampala Central Division, Kampala Uganda’s capital and largest city. The coordinates of Access Bank’s headquarters are: 0°18’32.0″N 32°35’57.0″E (Latitude:0; Longitude:32).
2. Bank of India
The Bank of India is a public sector bank in India, with its headquarters in Mumbai. It was established on 19 December 1935 as a joint stock company under the Indian Companies Act, 1913 (now Section 25 of the Companies Act, 1956) and began operations on 3 July 1936.
On 1 July 1969 it was nationalised along with 13 other major commercial banks and since then has been run by the Government of India through its holding company: State Bank of India (SBI). As per Reserve Bank Of India guidelines on capital adequacy norms, SBI is required to maintain minimum capital adequacy ratio (CAR) of 9% against risk weighted assets for credit risk and 7% for market risk.
3. Barclays
Barclays is a British multinational banking and financial services company headquartered in London. It is a universal bank with operations in wholesale banking, credit cards, wealth management and investment banking.
Barclays has over 6,700 branches in over 50 countries and territories and employs around 135,000 people.
In Tanzania Barclays Bank Tanzania Limited (BBT) was established as a subsidiary of Barclays Bank Plc., to provide retail banking services to customers through its network of branches across the country.
International Banks in Tanzania
4. Citibank
Citibank is a multinational banking and financial services corporation headquartered in New York City. Citibank is one of the largest banks in the U.S. and the world by assets, with total assets of US$2 trillion as of December 2018.[3]
The bank was founded in 1812 as the City Bank of New York, later First National City Bank (often called First National), and served as its main subsidiary until nationalization by the United States government during World War II. It has offices in Austria, China, France, Germany, India, Italy,[4] Japan[5][6] Luxembourg[7], Mexico,[8] Russia[9][10] Singapore&nb
5. Commercial Bank of Africa
- Commercial Bank of Africa is a Tanzanian commercial bank. It is licensed by Bank of Tanzania, the central bank and national banking regulator. The bank is a subsidiary to Commercial Bank of Africa Group (CBG), which owns 62% shareholding in CBAT.
- The stock of CBAT is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol: CBAT.
6. Credit Agricole Indosuez (CAI)
Credit Agricole Indosuez (CAI) is a French multinational banking group operating in 54 countries. CAI has a presence in Africa, Asia, Europe, and North America. The bank offers a range of financial services including corporate and investment banking.
Credit Agricole Indosuez has been the leading financial partner of the Maasai people in Tanzania for more than 15 years now through its subsidiary CAI Bank Limited (CABL).
7. Equity Bank Tanzania Ltd.
Equity Bank Tanzania is a commercial bank in Tanzania, the largest economy in the East African Community. The bank is licensed by the Bank of Tanzania, the central bank and national banking regulator.
The head office is located on Jamhuri Street in Dar es Salaam, the financial capital of Tanzania. The coordinates of its headquarters are -6.7867°S, 39.2708°E (-6°47’48″S 39°16’15″E).
The bank was established in 2000 with funding from investors from United States, Japan and South Africa among others. In February 2014, it became a public company when it listed on the Dar es Salaam Stock Exchange at TZS 12 per share with an initial offering size of 33% or TZS 3 billion shares worth TZS 2 billion which did not include treasury stock held by founders and management team members who were expected to sell some shares during listing process that was carried out through private placement comprising direct sale as well as secondary market transactions.
Equity Bank
8. Exim Bank Tanzania Ltd.
Exim Bank Tanzania Ltd. is a commercial bank in Tanzania. It is a subsidiary of Exim Bank Limited, a commercial bank in India. The headquarters of the bank are located in Dar es Salaam, Tanzania.
The company was established in June 1980 as an overseas branch of Indian Overseas Bank (IOB) with an authorised capital of Tshs 3 million and paid-up capital of Tshs 1 million. In 2002 it was converted into a local banking institution with the name Exim Bank Tanzania Limited and promoted by IOB under its expertise scheme for expanding operations abroad.
In April 2015 Exim Bank acquired 100% shares from Deveshwar Holdings Limited which held 49% shares while IOB holds 51%.
9. Guaranty Trust Bank Tanzania Ltd.
Guaranty Trust Bank Tanzania Ltd. (GTB) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
The headquarters of the bank are located at 39 Maktaba Street, Dar es Salaam. The geographical coordinates of the headquarters of this company are -6.89639 (Latitude), 39.73861 (Longitude).
10. Habib African Bank Tanzania Ltd.
- Habib African Bank Tanzania Ltd. (HABT) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
- The bank offers banking services to corporate, small and medium enterprises (SMEs) and individuals.
- HABT was established in 1995 as a subsidiary of the Dubai-based Habib Bank Ltd.. In 2006, it became an independent entity following its acquisition by Euraffine Investment Holding Co., Ltd., based in Hong Kong.
11. International Commercial Bank of China (ICBC)
ICBC is a Chinese state-owned commercial bank that is the largest bank in the world in term of assets, profits, market capitalization, and number of employees.
ICBC was founded on November 10th, 1984 by signing a joint venture agreement with China’s Ministry of Finance and Bank of China. It has been listed on the Hong Kong Stock Exchange since June 2nd 1993 and has become one of four leading banks in this city over time.
The Bank provides various financial services such as retail banking; investment banking; treasury products; life insurance products; fund management services; leasing finance services etc .
12. National Microfinance Bank (NMB) Tanzania Ltd.
National Microfinance Bank (NMB) Tanzania Ltd. is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
The company provides loans to small and medium-sized enterprises, including agribusinesses, manufacturers and retailers using both fixed assets as collateral and personal guarantee from directors or owners of businesses as collateral. The firm also offers personal loans to individuals who have shown good repayment history with other financial institutions; credit cards; payment services for bill payments through mobile phones; overdraft facilities for clients with good credit ratings; SMS banking; internet banking services; insurance products such as life insurance policies, group term life insurance policies (GTLIPs) and health insurance policies among others.
NMB has over 140 branches across Tanzania Mainland serving customers in Dar es Salaam city center, Morogoro Region including Msalato Town Council Ward & Lugalo Township which are predominantly working class Central Business Districts where most of its customers are based on daily basis along with many other urban areas such as Dar Es Salaam City Center
and Morogoro Region’s townships – Ruvu Buzwagi Village Council Ward & Njombe Municipality along with Tanga Region’s coastal town centers like Ukonga Market Center (Chang’ombe Urban), Lipudi Urban Market Center where majority population lives below poverty line hence visit banks frequently looking for credit facility/loan which helps them run business operations smoothly without any hassle from cash flow problems caused due
13. NCBA Group Limited (formerly NIC group limited)
NCBA Group Limited (formerly NIC group limited) is a commercial bank in Tanzania. It is a subsidiary of NIC Bank Group Limited. The bank maintains its headquarters in Dar Es Salaam, the largest city and former capital of Tanzania.
The bank started operations on 1st November 2003 as National Insurance Company Botswana (NIC Botswana) and was licensed as a commercial bank by Bank of Tanzania on 6th June 2014.
The shareholders are:
- The Government of the United Kingdom through UK Department for International Development;
- Barclays Africa Group Limited;
- Industrial Development Corporation (IDC);
- African Development Bank Group;
- International Finance Corporation (IFC); and
- IFC-Africa Region Advisory Committee.
How many foreign banks are there in Tanzania?
There are more than 20 foreign banks in Tanzania. They include Barclays Bank Tanzania Limited, Standard Chartered Bank Tanzania Limited, Stanbic Bank Tanzania Limited, Ecobank Tanzania Plc and Equity Bank Plc.
Which bank is best for international?
The answer to the question of which bank is best for international is a bit of an oversimplification. There are many factors to consider when deciding on a bank, and different people have different needs. However, in general it’s best to choose an international bank that has branches conveniently located near you, offers good exchange rates, and allows you access through ATMs or mobile device payments.
In terms of convenience, Bank of Tanzania is the best option because it has over 70 branches across all major cities in Tanzania (Dar es Salaam included). Access Bank also has a high number of branches—over 70—across Tanzania; whereas Barclays only has eight branches throughout the country. The number of ATMs available at each branch will also affect how convenient your options are. In this case, there’s no contest: Barclays wins hands down with more than 500 ATMs spread across Africa while Access Bank only offers 128 machines total!
Which bank is International bank?
- Which is the biggest bank in Tanzania?
- How many foreign banks are there in Tanzania?
- Which bank is best for international?
- Which is the most reliable bank in Tanzania?
Which is the biggest bank in Tanzania?
- Access Bank Plc
- Bank of India (BOI)
- Barclays Bank Tanzania Limited
- Citibank N.A
- Commercial Bank of Africa (CBA)
- Credit Agricole Indosuez (CAI)
- Equity Bank Tanzania Ltd., The
- Exim Bank Tanzania Ltd
There are many international banks in Tanzania. They offer a wide range of products and services that can help you manage your finances more effectively. You can also get cash from any of these banks at any time of the day or night.
