Exim Bank (Tanzania)

Exim Bank (Tanzania)
Private
Industry Financial Services
Founded 1997
Headquarters Dar es Salaam, Tanzania
Key people
 Said Ally Mwema
Chairman
Dinesh Arora
Chief Executive Officer
Selemani Ponda
Chief Financial Officer
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue Increase Aftertax: US$14 million (TZS:30.67 billion) (2015)
Total assets US$700.8 million (TZS:1.5 trillion) (H1:2016)[1]
Number of employees
 800+ (2015)
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.[2]

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 2015, according to its website, the bank's total assets were valued at 1.25 trillion Tanzanian shillings (TZS) (US $584.7 million, assuming an exchange rate of TZS 2,138 per US dollar) with shareholders' equity of TZS 192 billion (US $90 million).[3] EBT is the fifth largest commercial bank in the country, by assets.[4] By June 2016, the bank's total assets had grown to TZS:1.5 trillion (approx. US$700.8 million).[1]

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.[5] As of November 2014, EBT maintains a wholly owned banking subsidiaries in the Comoros, Djibouti and Uganda. It is the first indigenous Tanzanian bank to own subsidiaries outside the country, as at March 2016.[6] 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 (East Africa) Group, a regional banking financial services organization. In March 2016, EBT acquired 58.6% of Imperial Bank (Uganda) Ltd and changed its name to Exim Bank (Uganda) Limited.[7]

Subsidiaries

As of March 2016, the bank maintains headquarters in Dar es Salaam, Tanzania's largest city. It maintains the following subsidiaries, which together form the Exim Bank Group (East Africa):[8]

  1. Exim Bank (Tanzania) - Dar-es-Salaam, Tanzania
  2. Exim Bank (Comoros) - Moroni, Comoros
  3. Exim Bank (Djibouti) - Djibouti City, Djibouti.
  4. Exim Bank (Uganda) - Kampala, Uganda.[9]

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: [10]

Exim Bank Tanzania Stock Ownership
Rank Name of OwnerPercentage Ownership
1Yogesh Manek20.0
2Hanif Jaffer20.0
3Shaffin Jamal20.0
4Azim Kassam20.0
5Azim Virjee20.0
TOTAL100.0

Branch Network

As of March 2016, EBT maintains branches 30 Branches and Mini branches at the following locations inside Tanzania:[11]

  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. Iringa Branch - Iringa
  21. Shinyanga Branch - Shinyanga
  22. Tabora Branch - Tabora
  23. Karatu Branch - Karatu
  24. Kigoma Branch - Kigoma
  25. Kilimanjaro Branch - Moshi, Kilimanjaro
  26. Buguruni Branch - Buguruni, Dar es Salaam
  27. Babati Branch - Manyara
  28. Babati Mini Branch -Arusha
  29. Mwanakwerekwe Mini Branch- Zanzibar
  30. Ushirika Min Branch - Ushirika Towers, Lumumba Street, Dar es Salaam

Governance

The Chairman of the Board is Mr. Said Ally Mwema, a non-Executive Director. The Chief Executive Officer is Mr. Dinesh Arora, who is a non-shareholder.

See also

References

  1. 1 2 Kasumuni, Ludger (16 August 2016). "Tanzania: Exim Bank Marks 19th Anniversary". The Citizen (Tanzania). Retrieved 16 August 2016.
  2. ↑ Bank of Tanzania. "Banking Supervision: Directory of Banks Operating In Tanzania". Bank of Tanzania. Retrieved 7 November 2014.
  3. ↑ Press Release (7 March 2016). "Exim Bank now in 'Uganda'". Dar es Salaam: Exim Bank. Retrieved 7 March 2016.
  4. ↑ TDN Reporter (9 April 2014). "Tanzania: Exim Bank Hits TSh20 Billion Profit Mark". Dar es Salaam: Tanzania Daily News via AllAfrica.com. Retrieved 10 November 2014.
  5. ↑ "Exim Bank Tanzania: Company Profile and History". Ide.Go.Jp. Retrieved 7 November 2014.
  6. ↑ EBT (18 April 2013). "Exim Bank Approaches The Trillion Shilling Milestone". Dar es Salaam: Exim Bank Tanzania (EBT). Retrieved 7 March 2016.
  7. ↑ Emmanuel Tumusiime-Mutebile (7 March 2016). "Exim Bank Uganda takes over Imperial Bank Uganda" (PDF). Kampala: Bank of Uganda. Retrieved 16 August 2016.
  8. ↑ 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.
  9. ↑ Coutinho, Brian (12 March 2016). "Tanzanian bank goes after Ugandan clients". East African Business Week. Kampala. Retrieved 14 March 2016.
  10. ↑ EBT (4 April 2013). "Shareholders of The Company" (PDF). Exim Bank Tanzania. Retrieved 7 November 2014.
  11. ↑ EBT. "The Branches of Exim Bank Tanzania". Exim Bank Tanzania. Retrieved 4 March 2016.

External links

This article is issued from Wikipedia - version of the 9/29/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.