People's Bank of Zanzibar

People's Bank of Zanzibar
People's Bank of Zanzibar
Government Owned
Industry Financial services
Founded 1966
Headquarters Zanzibar, Tanzania
Key people
 AbdulRahman M. Jumbe
Chairman
Juma Amour Mohamed
Managing Director
Products Loans, savings, checking, investments, debit cards, credit cards, mortgages
Revenue Increase Aftertax: US$2.91 million (TZS:4.931 billion) (2013)
Total assets US$170 million (TZS:287.75 billion) (2013)
Number of employees
 236 (2013)
Website Homepage

People's Bank of Zanzibar (PBZ), is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator.[1]

Overview

As of December 2013, PBZ was a medium-sized financial institution, with total assets valued at approximately US$170 million (TZS:287.75 billion). At that time, the bank's shareholders' equity was about US$15.65 million (TZS:26.51 billion).The bank employed 236 full-time staff, as at 31 December 2013.[2]

History

The bank was founded in 1966 by the Government of Zanzibar. It functions as a retail bank, serving individuals, small and medium enterprises (SMEs), as well as large corporate clients. Initially its service area was limited to the islands of Zanzibar and Pemba. In April 2011, the bank opened a branch in Dar es Salaam on the mainland. It now plans new branches in Mwanza, Arusha, Mtwara and Mbeya.[3] In December 2011, the bank launched an Islamic bank window, in addition to the conventional banking services that it offers.[4]

Ownership

Peoples Bank of Zanzibar is 100% owned by the Government of Zanzibar.

Branch network

As of November 2014, PBZ maintains branches at the following locations:

  1. Malindi Branch - Near Ministry of Agriculture, Zanzibar Main Branch
  2. Chake Chake Branch - Chake-Chake, Pemba
  3. Forodhani Branch - Forodhani Park, Zanzibar
  4. Mwanakwerekwe Branch - Mwanakwerekwe, Zanzibar
  5. Mkoani Branch - Zanzibar Port Authority Building, Zanzibar
  6. Wete Branch - Ground Floor, Zanzibar Electricity Corporation Building, Zanzibar
  7. Mlandege Branch - Muzammil Building, Mlandege
  8. Kariakoo Branch - Opposite Kariakoo Main Market, Zanzibar
  9. Dar es Salaam Branch I - Mbagala, Dar es Salaam[5]
  10. Dar es Salaam Branch II - Dar es Salaam (In development)
  11. Mwanza Branch - Mwanza (In development)
  12. Arusha Branch - Arusha (In development)
  13. Mtwara Branch - Mtwara (In development))[6]
  14. Mbeya Branch - Mbeya (In development)

See also

References

  1. ↑ BOT, . "Directory of Commercial Banks Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 21 November 2014.
  2. ↑ PBZ, . (29 March 2014). "Audited 31 December 2013 Annual Report & Financial Statements". People's Bank f Zanzibar (PBZ). Retrieved 21 November 2014.
  3. ↑ Tongo, Michelle (1 May 2012). "People’s Bank of Zanzibar To Roll Out Mobile Money Transfers". ItNewsAfrica.Com. Retrieved 21 November 2014.
  4. ↑ Mbogo, Steve (21 December 2011). "Zanzibar’s People’s Bank Opens Islamic Window". TheIslamicGlobe.Com. Retrieved 21 November 2014.
  5. ↑ PBZ, . (March 2012). "Audited 31 December 2011 Financial Report: Future Development Plans" (PDF). People's Bank of Zanzibar (PBZ). Retrieved 21 November 2014.
  6. ↑ Philemon, Beatrice (13 November 2014). "People's Bank of Zanzibar Targets Dar es Salaam, Mtwara". IPP Media (Dar es Salaam). Retrieved 21 November 2014.

External links