Exim Bank (Tanzania)

Exim Bank (Tanzania)
Private
Industry Financial Services
Founded 1997
Headquarters Dar es Salaam, Tanzania
Key people
 Yogesh Manek
Chairman
Anthony Grant
Managing Director
Selemani Ponda
Chief Financial Officer
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue Increase Aftertax: US$12.6 million (TZS:20 billion) (2013
Total assets US$715.4 million (TZS:1.14 trillion) (2013)
Number of employees
 680 (2012)
Slogan An Edge Above The Rest
Website Homepage

Exim Bank (Tanzania) (EBT), is a commercial bank in Tanzania, the second-largest economy in the East African Community. The bank is one of the commercial banks licensed by the Bank of Tanzania, which is the country's central bank and national banking regulator.[1]

Overview

EBT is a large banking institution, providing commercial banking services to individuals, small-to-medium sized businesses, and large corporate clients. As of December 2013, the bank's total assets were valued at 1.14 trillion Tanzanian shillings (TZS) (US $715.4 million assuming an exchange rate of TZS 1,594 per US dollar) with shareholders' equity of TZS 157 billion (US $98.53 million).[2] At that time, EBT was the fifth largest commercial bank in the country, by assets.[2] In December 2010, EBT was the winner for the Best Presented Financial Statement for 2009 at an event in Arusha hosted by the National Board of Accountants and Auditors.[3]

History

EBT was formed in 1997 by a group of Tanzanian business people, following the liberalization of the Tanzanian economy. It reportedly broke even within the first five months of operation.[4] As of November 2014, EBT maintains a wholly owned banking subsidiary in the Comoros (Exim Bank (Comores)). EBT is the only indigenous Tanzanian bank with outside subsidiaries. In April 2010, the bank was authorized by the Bank of Tanzania to establish subsidiaries in Djibouti and Zambia, thus setting up the Exim Bank Group, a regional banking financial services organization.[5] EBT also owns a minority interest (5.8 percent of shares) in the National Microfinance Bank.[6]

Subsidiaries

As of November 2014, the bank maintains headquarters in Dar es Salaam, Tanzania's largest city. It maintains the following subsidiaries, which together form the Exim Bank Group:[7]

  1. Exim Bank (Tanzania) - Dar-es-Salaam, Tanzania
  2. Exim Bank (Comoros) - Moroni, Comoros
  3. Exim Bank (Djibouti) - Djibouti City, Djibouti.

Ownership

The stock of Exim Bank (Tanzania) is owned by private individuals and corporate entities. The current shareholding in the bank is summarized in the table below: [8]

Exim Bank Tanzania Stock Ownership
Rank Name of OwnerPercentage Ownership
1Yogesh Manek20.0
2Hanif Jaffer20.0
3Shaffin Jamal20.0
4Azim Kassam20.0
5Azim Virjee15.0
6Alawa Investments Limited2.5
7Alawa Investments Limited2.5
TOTAL100.0

Branch Network

As of November 2014, EBT maintains branches at the following locations inside Tanzania:[9]

  1. Clock Tower Branch - Samora Avenue, Dar es Salaam
  2. Main Branch - Exim Tower, Dar es Salaam
  3. Mlimani Branch - Mlimani City, Dar es Salaam
  4. Samora Avenue Branch - 9 Samora Avenue, Dar-es-Salaam
  5. Kariakoo Branch - Morogoro Road, Dar es Salaam
  6. Namanga Branch - Namanga, Dar es Salaam
  7. Nyerere Road Branch - Nyerere Road, Dar es Salaam
  8. Temeke Branch - Chang'ombe, Dar es Salaam
  9. Ubungo Branch - Ubungo, Dar es Salaam
  10. Mwanza Branch - Kenyatta Road, Mwanza
  11. Arusha Branch - Goliondoi Road, Arusha
  12. Mount Meru Branch - Uhuru Road, Arusha
  13. Manyara Branch - Karatu, Arusha
  14. Moshi Branch - Boma Road, Moshi
  15. Tanga Branch - Independence Avenue, Tanga
  16. Zanzibar Branch - Mlandege Street, Zanzibar
  17. Morogoro Branch - Lumumba Road, Morogoro
  18. Mbeya Branch - Industrial Area, Mbeya
  19. Mtwara Branch - Tanu Road, Mtwara
  20. Babati Branch - Babati
  21. Iringa Branch - Iringa
  22. Karatu Branch - Karatu
  23. Kigoma Branch - Kigoma[10]
  24. Ushirika Branch - Ushirika Towers, Lumumba Street, Dar es Salaam[11]

Governance

The Chairman of the Board is Yogesh Manek, a non-Executive Director, and a shareholder in the bank. The Managing Director and Chief Executive Officer is Anthony Grant, who is a non-shareholder.

See also

References

  1. ↑ Bank of Tanzania. "Banking Supervision: Directory of Banks Operating In Tanzania". Bank of Tanzania. Retrieved 7 November 2014.
  2. ↑ 2.0 2.1 TDN., Reporter (9 April 2014). "Tanzania: Exim Bank Hits TSh20 Billion Profit Mark". Tanzania Daily News (Dar es Salaam) via AllAfrica.com. Retrieved 10 November 2014.
  3. ↑ Tanzania Daily News, Reporter (12 December 2010). "Exim Bank Claims Top NBAA Honours". Tanzania Daily News (Dar es Salaam) via AllAfrica.com. Retrieved 7 November 2014.
  4. ↑ "Exim Bank Tanzania: Company Profile and History". Ide.Go.Jp. Retrieved 7 November 2014.
  5. ↑ Karega, Victor (22 April 2010). "Tanzania: Exim To Open Branches In Zambia And Djibouti". The Citizen (Tanzania) via AllAfrica.com. Retrieved 7 November 2014.
  6. ↑ NMBTZ. "Shareholders of National Microfinance Bank". National Microfinance Bank (NMBTZ). Retrieved 7 November 2014.
  7. ↑ Daily News Reporter (18 April 2013). "Exim Bank Group Assets Approach TSh1 Trillion (US$600 Million) Mark". Tanzania Daily News (Dar es Salaam). Retrieved 7 November 2014.
  8. ↑ EBT, . (4 April 2013). "Shareholders of The Company" (PDF). Exim Bank Tanzania. Retrieved 7 November 2014.
  9. ↑ EBT, . "The Branches of Exim Bank Tanzania". Exim Bank Tanzania. Retrieved 7 November 2014.
  10. ↑ Daily News Reporter, . (12 October 2012). "Tanzania: Exim Bank Extends Wings to Kigoma". Tanzania Daily News (Dar es Salaam) via AllAfrica.com. Retrieved 7 November 2014.
  11. ↑ Tanzania Daily News (Dar es Salaam) via AllAfrica.com, . (18 November 2014). "Tanzania: Exim Bank Opens New Branch in Dar es Salaam". Retrieved 18 November 2014.

External links