Commercial Bank of Africa (Tanzania)

Commercial Bank of Africa (Tanzania)
Private Subsidiary
Industry Financial Services
Founded 1962
Headquarters Dar es Salaam, Tanzania
Key people
 Julius Mcharo
Acting Managing Director and Acting CEO[1]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax:US $1.56+ million (TZS:2.42+ billion) (2010)
Total assets US $152.6 million (TZS:236.7 billion) (2010)
Number of employees
 105 (2010)
Website Homepage

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.[2] The bank is a member of the Commercial Bank of Africa Group, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, and Uganda.

Overview

CBAT serves the banking needs of individuals and businesses in Tanzania. Like its parent company in Kenya, the Commercial Bank of Africa, CBAT focuses on meeting the banking needs of large corporations, diplomatic missions, non-governmental organizations, and high-end private clients. As of September 2013, the bank's total assets were valued at approximately US $152.6 million (TZS:236.7 billion), with shareholders' equity of about US $11.24 million (TZS:17.43 billion).[3]

History

The bank was founded in 1962 in Dar es Salaam. Branches were soon opened in Nairobi and Mombasa, Kenya and in Kampala, Uganda. 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 Tanzanian subsidiary called United Bank of Africa.[4] In 2007, United Bank of Africa rebranded to Commercial Bank of Africa (Tanzania), returning the brand to the country since 1967. In January 2014, CBA opened its first branch in Uganda.[5]

Ownership

CBAT is a wholly owned subsidiary of Commercial Bank of Africa, a large, privately owned commercial bank based in Nairobi, Kenya.

Branch network

As of November 2014, CBAT maintains branches at the following locations:[6]

  1. Ohio Street Branch - Amani Place, Ohio Street, Dar es Salaam - Main Branch
  2. Samora Avenue Branch - PPF House, Samora Avenue at Morogoro Road, Dar es Salaam
  3. Nyerere Road Branch - Jamana House, Nyerere Road, Dar es Salaam
  4. Kariakoo Branch - Tropical Hotel, Narung'ombe Street, Dar es Salaam
  5. Kijitonyama Branch - 717-6 TTCL Building, Kijitonyama, Dar es Salaam
  6. Mbeya Branch - Soweto Area, Plot 41, Block O, Mbeya
  7. Mwanza Branch - Kenyatta Road, Mwanza
  8. Mtwara Branch - Tanu Road, Mtwara
  9. Arusha Branch - TFA Building, Fire Road, Arusha
  10. Moshi Branch - TTCL Building, Block A, Plot 96, Moshi
  11. Tunduma Branch - TTCL Building, Block I, Plot 56-2, Tunduma, Mbeya

Governance

Yohani Kaduma (spelling needs to checked) is the managing director and chief executive officer of CBAT.

See also

References

  1. ↑ Africa Recruit, . (2006). "Profile of Nehemiah Kyando Mchechu". AfricaRecruit.Com. Retrieved 9 November 2014.
  2. ↑ Bank of Tanzania, . "Directory of Commercial Banks Operating In Tanzania". Bank of Tanzania. Retrieved 9 November 2014.
  3. ↑ Pesatimes Correspondent, . (4 April 2013). "CBA Partners With ESAMI To Train Entrepreneurs". Pesa Times. Retrieved 9 November 2014.
  4. ↑ BIDN, . "History of Commercial Bank of Africa Group". BidNetwork.Org. Retrieved 9 November 2014.
  5. ↑ Herbling, David (2 February 2014). "CBA Becomes Ninth Kenyan Bank To Open Shop In Uganda". Business Daily Africa (Nairobi). Retrieved 9 November 2014.
  6. ↑ CBAT, . "Locations of Branches of CBA Tanzania". Commercial Bank of Africa Tanzania. Retrieved 9 November 2014.

External links