Akiba Commercial Bank
| Private | |
| Industry | Financial Services |
| Founded | 1997 |
| Headquarters | Dar es Salaam, Tanzania |
Key people |
Elizabeth Minde Chairperson John Lwande Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Total assets | US$79.35 million (2013) |
Number of employees | 487 (2013) |
| Website | Homepage |
Akiba Commercial Bank (ACB) is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the central bank and national banking regulator.[1]
Overview
The bank is a small commercial bank that focuses on serving the poorest of poor Tanzanians and their enterprises. It operates as a microfinance bank. As of December 2013, its total asset base was estimated at US$79.35 million. At that time the bank maintained over 240,850 deposit accounts with an average of US$335 per account. Loan accounts stood at over 28,950, with an average loan balance of US$1,576 per account.[2] In 2013, Akiba Commercial Bank was ranked "the best customer-focused bank in Tanzania" based on convenience, customer care and pricing.[3]
History
Akiba Commercial Bank was established in 1997 by Tanzanian businesspeople with the objective of serving the banking needs of the poorest of Tanzanians, who were hitherto unbanked and not served by the large commercial banks.
Ownership
The stock of Akiba Commercial Bank is privately owned by individuals and corporate entities including the following
| Akiba Commercial Bank Stock Ownership | |||||||||||||||||||||||||||||||||
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Branch Network
As of November 2014, Akiba Commercial Bank operates a network of 17 branches, in Dar es Salaam, Arusha, Dodoma, Mwanza[5] and other urban centers in the country.
Governance
The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The Managing Director and Chief Executive Officer (CEO), is answerable to the Board. The current CEO is John Lwande, appointed in 2008.[6]
See also
References
- ↑ BOT, . "Directory of Banks Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 7 November 2014.
- ↑ "Akiba Commercial Bank Limited: Financial & Performance Data, December 2013". MixMarket.Org. Retrieved 7 November 2014.
- ↑ Daily News Reporter, . (29 November 2013). "Tanzania: Akiba Commercial Bank Ranked Best in Customer Focused". Tanzania Daily News (Dar es Salaam). Retrieved 7 November 2014.
- ↑ "Akiba Commercial Bank: Background". Accion.Org. July 2014. Retrieved 7 November 2014.
- ↑ Masare, Alawi (23 May 2014). "ACB To Open New Branch In Mwanza". The Citizen (Tanzania). Retrieved 8 November 2014.
- ↑ Pesatimes, Correspondent (18 February 2013). "AKIBA Targets 47 Percent Profit Increase for 2013". PesaTimes.Com. Retrieved 8 November 2014.