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Exim Bank (Tanzania)

From Wikipedia, the free encyclopedia

Exim Bank (Tanzania)
TypePrivate
IndustryFinancial Services
Founded1997; 24 years ago (1997)
HeadquartersExim Tower, Plot Number 1404, Block Number 05, Ghana Avenue, Dar es Salaam, Tanzania
Key people
Ambassador Juma Mwapachu
Chairman
Jaffari Matundu
Chief Executive Officer
Shani Kinswaga
Chief Financial Officer
ProductsLoans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
RevenueIncrease Aftertax:TZS:3.37 billion (US$1.484 million) (2017)[1]
Total assetsTZS:1.604 trillion (US$706.5 million) (2017)[1]
Number of employees
924 (2017)[1]
WebsiteCompany website

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]

Overview

EBT is a large banking institution, providing commercial banking services to individuals, small-to-medium-sized businesses (SMEs), and large corporate clients. As of December 2017, according to its annual report, published on the bank's website, the bank's total assets were valued at TZS 1.604 trillion (US$706.5 million), assuming an exchange rate of TZS 2,270 per US dollar, with shareholders' equity of TZS 231.454 billion (US$102 million).[1]

EBT was the fifth largest commercial bank in the country, by assets, as of April 2014.[3] By June 2016, the bank's total assets had grown to TZS: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]

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.[6] As of November 2019, 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]

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):[9]

  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.[10]

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: [11]

Exim Bank Tanzania Stock Ownership
Rank Name of Owner Percentage Ownership
1 Yogesh Manek 20.0
2 Hanif Jaffer 20.0
3 Shaffin Jamal 20.0
4 Azim Kassam 20.0
5 Azim Virjee 20.0
TOTAL 100.0

Branch network

As of October 2017, EBT maintains 33 branches at the following locations inside Tanzania:[12]

  1. Clock Tower Branch - Samora Avenue, Dar es Salaam
  2. Exim Tower Branch - Exim Tower, Dar es Salaam
  3. Hill Park 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. Mkwepu Branch - Mkwepu Street, Dar es Salaam
  7. Namanga Branch - Namanga, Dar es Salaam
  8. Nyerere Road Branch - Nyerere Road, Dar es Salaam
  9. Temeke Branch - Chang'ombe, Dar es Salaam
  10. Mwanza Branch - Kenyatta Road, Mwanza
  11. Arusha Branch - Goliondoi Road, Arusha
  12. Mount Meru Branch - Uhuru Road, Arusha
  13. Moshi Branch - Boma Road, Moshi
  14. Tanga Branch - Independence Avenue, Tanga
  15. Zanzibar Branch - Mlandege Street, Zanzibar
  16. Morogoro Branch - Lumumba Road, Morogoro
  17. Mbeya Branch - Industrial Area, Mbeya
  18. Mtwara Branch - Tanu Road, Mtwara
  19. Iringa Branch - Iringa
  20. Shinyanga Branch - Shinyanga
  21. Tabora Branch - Tabora
  22. Karatu Branch - Karatu
  23. Kigoma Branch - Kigoma
  24. Mwanakwerekwe Branch- Zanzibar
  25. Lumumba Branch - Ushirika Towers, Lumumba Street, Dar es Salaam
  26. Udom Branch - UDOM College of Informatics, Dodoma[13]

Governance

The Chairman of the Board is Ambassador Juma Mwapachu, a non-Executive Director. The Chief Executive Officer is Mr. Jaffari Matundu, who is a non-shareholder.

See also

References

  1. ^ a b c d Exim Bank (26 April 2018). "Exim Bank Group Audited Accounts for the Year Ended 31 December 2017" (PDF). Dar es Salaam: Exim Bank Tanzania. Retrieved 18 May 2018.
  2. ^ Bank of Tanzania (30 June 2017). "Directory of Financial Institutions Operating In Tanzania As of 30 June 2017" (PDF). Dar es Salaam: Bank of Tanzania. Retrieved 18 May 2018.
  3. ^ 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.
  4. ^ Kasumuni, Ludger (16 August 2016). "Tanzania: Exim Bank Marks 19th Anniversary". The Citizen (Tanzania) via AllAfrica.com. Dar es Salaam. Retrieved 16 August 2016.
  5. ^ a b Beatrice Materu (14 November 2019). "Exim Expands, Buys All of UBL Business". The EastAfrican. Nairobi. Retrieved 15 November 2019.
  6. ^ "Exim Bank Tanzania: Company Profile and History". Ide.Go.Jp. Retrieved 7 November 2014.
  7. ^ EBT (18 April 2013). "Exim Bank Approaches The Trillion Shilling Milestone". Dar es Salaam: Exim Bank Tanzania (EBT). Retrieved 7 March 2016.[permanent dead link]
  8. ^ Emmanuel Tumusiime-Mutebile (7 March 2016). "Exim Bank Uganda takes over Imperial Bank Uganda" (PDF). Kampala: Bank of Uganda. Retrieved 16 August 2016.
  9. ^ Daily News Reporter (18 April 2013). "Exim Bank Group Assets Approach TSh1 Trillion (US$600 Million) Mark". Tanzania Daily News. Dar es Salaam. Archived from the original on 7 November 2014. Retrieved 7 November 2014.
  10. ^ Coutinho, Brian (12 March 2016). "Tanzanian bank goes after Ugandan clients". East African Business Week. Kampala. Retrieved 14 March 2016.
  11. ^ EBT (4 April 2013). "Shareholders of The Company" (PDF). Exim Bank Tanzania. Archived from the original (PDF) on 25 November 2013. Retrieved 7 November 2014.
  12. ^ EBT. "The Branches of Exim Bank Tanzania". Exim Bank Tanzania. Archived from the original on 12 January 2016. Retrieved 4 March 2016.
  13. ^ Oforo, Valentine (12 October 2017). "Tanzania: Exim Bank Tanzania Opens New Branch in Dodoma". The Citizen via AllAfrica.com. Dar es Salaam. Retrieved 13 October 2017.

External links

This page was last edited on 20 October 2020, at 13:02
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