|
Exim Bank (Tanzania)
Exim Bank (Tanzania) (EBT), is a commercial bank in Tanzania, the second-largest economy in the East African Community. The bank is licensed by the Bank of Tanzania, which is the country's central bank and national banking regulator.[2] OverviewEBT is a large banking institution, providing commercial banking services to individuals, small-to-medium-sized businesses (SMEs), and large corporate clients. As of December 2021[update], according to its annual report, published on the bank's website, the bank's total assets were valued at TSh 1.372 trillion (US$590.3 million), assuming an exchange rate of 2,322/45 per US dollar, with shareholders' equity of TSh 170.843 billion (US$73.6 million).[1] The Exim Bank Group was the fifth largest commercial bank group in the country, by assets, as of April 2014.[3] By June 2016, the bank's total assets had grown to TSh 1.5 trillion (approx. US$700.8 million).[4] Following the acquisition of the business and assets of United Bank Tanzania Limited, in November 2019, Exim Bank (Tanzania), increased its assets to US$732.4 million.[5] HistoryEBT 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.[6] As of November 2019[update], EBT maintained 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.[7] 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) Limited and changed its name to Exim Bank (Uganda) Limited.[8] In November 2019, Exim Bank Tanzania acquired the businesses and assets of United Bank Tanzania Limited, a subsidiary of the Pakistan bank, United Bank Limited.[5] In July 2022, Exim Bank Tanzania acquired First National Bank of Tanzania, bringing total group assets to TSh 2.4 trillion (US$1.033+ billion).[9] Exim Bank Group (East Africa)Exim Bank Tanzania, is the largest subsidiary of the Exim Bank Group (East Africa), a large financial services conglomerate, that maintains its headquarters in Dar es Salaam, Tanzania's largest city. Members of the banking group include:[10]
OwnershipThe 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:[1]
Branch networkAs of October 2017[update], EBT maintains 33 branches at the following locations inside Tanzania:[12]
GovernanceThe chairman of the board is Ambassador Juma Mwapachu, a non-executive director. The chief executive officer is Jaffari Matundu, who is a non-shareholder.[1] See alsoReferences
External links
|
|||||||||||||||||||||||||||||||||||||||||
