Commercial Bank of Africa (Tanzania)

Commercial Bank of Africa (Tanzania)

Company type	Subsidiary
Industry	Banking
Founded	1962; 63 years ago (1962)
Headquarters	Amani Place, Ohio Street, Dar es Salaam, Tanzania
Key people	Muhoho Kenyatta Chairman Gift Shoko Managing Director & CEO[1]
Products	Loans, Savings, Transaction accounts, Investments, Debit Cards, Credit Cards, Mortgages
Revenue	Aftertax:TZS:23.236 billion (US$10.234+ million) (2015)[2]
Total assets	TZS:462.2 billion (US$204 million) (2015)[2]
Number of employees	160 (2018)[3] 181 (2017)[3]
Parent	Commercial Bank of Africa Group
Website	Bank website

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.[1] The bank is a subsidiary of the Commercial Bank of Africa Group and has its headquarters in Nairobi, Kenya.[4]

Location

The headquarters and main branch of CBA Tanzania Limited are located at Amani Place, along Ohio Street, in Dar es Salaam, Tanzania's largest city and financial capital.[5] The geographical coordinates of the bank's headquarters are: 06°48'42.0"S, 39°17'15.0"E (Latitude:-6.811667; Longitude:39.287500).[6]

Overview

CBAT serves the banking needs of individuals and businesses in Tanzania. The bank focuses on meeting the banking needs of large corporations, diplomatic missions, non-governmental organizations, and high-end private clients. As of December 2015^[update], the bank's total assets were valued at TZS:462.2 billion (approximately US$204 million), with shareholders equity of TZS:43 billion (US$19 million).[2]

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.[7] 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.[8]

Branch network

As of May 2018^[update], CBAT maintained branches at the following locations:[5]

1. Ohio Street Branch: Amani Place, Ohio Street, Dar es Salaam Main Branch
2. Kariakoo Branch: Tropical Hotel, Narung'ombe Street, Dar es Salaam
3. Kijitonyama Branch: Tanzania Telecommunications Company Limited Building, Plot no 717, Block number 6, Kijitonyama, Dar es Salaam
4. Samora Branch: PPF House, Corner of Samora Machel Avenue & Morogoro Road, Dar es Salaam
5. Nyerere Branch: Jamana House, Julius K. Nyerere Road, Dar es Salaam
6. Mtwara Branch: Tanu Road, Mtwara
7. Moshi Branch: Tanzania Telecommunications Company Limited Building, Moshi
8. Arusha Branch: TFA Building, Fire Road, Arusha
9. Mbeya Branch: 41 Soweto Area, Block ‘O, Mbeya
10. Tunduma Branch: Tanzania Telecommunications Company Limited Building , Plot no 56/2, Block I, Tunduma, Mbeya
11. Mwanza Branch: Kenyatta Road, Mwanza.

See also

• CBA Group
• Bank of Tanzania
• Economy of Tanzania
• List of banks in Tanzania

References

1. Bank of Tanzania (30 June 2017). "Directory of Licensed Banks And Financial Institutions Operating in Tanzania As of 30 June 2017" (PDF). Dar es Salaam: Bank of Tanzania. Retrieved 10 May 2018.
2. CBA Tanzania (12 April 2016). "CBA Tanzania Annual Report And Financial Statement for the Year Ended 31 December 2015" (PDF). Dar es Salaam: Commercial Bank of Africa (Tanzania). Retrieved 10 May 2018.
3. Halili Letea, and Gladys Mbwiga (1 August 2018). "Tanzania banks cut jobs in face of new realities". The Citizen (Tanzania). Dar es Salaam. Retrieved 5 August 2018.
4. TanzaniaInvest (20 December 2016). "Interview with Gift Shoko CEO of CBA Bank Tanzania". Dar es Salaam: TanzaniaInvest.com. Retrieved 10 May 2018.
5. CBA Tanzania (10 May 2018). "The Branch Network of Commercial Bank of Africa (Tanzania)". Dar es Salaam: Commercial Bank of Africa (Tanzania). Retrieved 10 May 2018.
6. "Location of the Headquarters of Commercial Bank of Africa (Tanzania)" (Map). Google Maps. Retrieved 10 May 2018.
7. CBA Tanzania (10 May 2018). "The History of Commercial Bank of Africa (Tanzania)". Dar es Salaam: Commercial Bank of Africa (Tanzania). Archived from the original on 30 June 2018. Retrieved 10 May 2018.
8. Herbling, David (2 February 2014). "CBA Becomes Ninth Kenyan Bank To Open Shop In Uganda". Business Daily Africa. Nairobi. Retrieved 9 November 2014.