Advans Bank Tanzania
|Headquarters||Dar es Salaam, Tanzania|
|Products||Loans, Checking, Savings, Investments, Debit Cards|
|Total assets||US$8.7 million (TZS:15.3 billion) (March 2014)|
Number of employees
Advans Bank Tanzania Limited, commonly known as Advans Bank Tanzania is a commercial bank in Tanzania. It is one of the commercial banks licensed by Bank of Tanzania, the central bank and national banking regulator.
Advans Bank Tanzania is a commercial bank regulated by the Bank of Tanzania. Its social mission is to provide suitable and sustainable financial services to micro, small, and medium-sized entrepreneurs, and to low and medium income employees. It operates as a microfinance bank. As of March 2014[update], the shareholders equity was valued at about €5.2 million (US $6.5 million or TZS:11.4 billion). At that time, customer deposits totaled approximately €1.8 million (US $2.23 million or TZS:3.9 billion). It is estimated that the bank's total assets in March 2014 totaled €7.0 million (US $8.7 million or TZS:15.3 billion).
Advans Bank Tanzania received a commercial banking license from the Bank of Tanzania in May 2010. In June 2010, the bank incorporated in its present form. In February 2011, the bank opened its first branch in Dar es Salaam, the commercial capital city of Tanzania, and the largest city in that east African country. Opening with a staff of eighteen, the bank planned to open more branches in Dar es Salaam and other areas of the country.
Advans Bank Tanzania is a joint venture between Advans SA, a venture capital firm registered in Luxembourg as majority shareholder (70 percent), and Netherlands Development Finance Company (FMO) (30 percent). Advans SA aims to establish microfinance financial institutions in emerging economies. Founded in 2005, Advans SA owns microfinance institutions in the Democratic Republic of the Congo, Cameroon, Ghana, Cambodia, Pakistan, Cote d'Ivoire, and Tanzania. As of March 2011[update], Advans SA had invested in excess of US $76 million (EUR:55 million) in the countries where they operate. The table below depicts the shareholding within Advans Bank Tanzania, as of March 2014:
|Advans Bank Tanzania Stock Ownership|
Advans Bank Tanzania maintains a network of branches at the following locations:
- Manzese Branch - 93 Morogoro Road, Manzese Darajani, Dar es Salaam (Main Branch)
- Kariakoo Branch - Kariakoo Street at Lumumba Street, Kariakoo, Dar es Salaam
- Temeke Branch - Opposite Temeke Primary Court, Temeke, Dar es Salaam
- Mwanza Branch - Lumumba Road, Opposite Mayi Hotel, Mwanza
- Mbeya Branch - Soweto, Opposite Kiwira Motel, Mbeya.
- List of banks in Tanzania
- List of banks in Africa
- Bank of Tanzania
- Economy of Tanzania
- Advans Banque Congo
- BOT, . "Directory of Commercial Banks Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 8 November 2014.
- Advans SA, . (March 2014). "Advans Bank Tanzania Annual Report April 2013 - March 2014" (PDF). AdvansBankTanzania.Com. Retrieved 8 November 2014.
- MFF, . (24 February 2011). "Advans SA Opens Fourth Greenfield Microfinance Institution In Tanzania". MicroFinanceFocus.Com (MFF). Retrieved 8 November 2014.
- ABT, . (April 2014). "Shareholders In Advans Bank Tanzania". Advans Bank Tanzania. Retrieved 8 November 2014.
- ABT, . "The Branch Network of Advans Bank Tanzania". Advans Bank Tanzania (ABT). Retrieved 8 November 2014.
- Website of Advans Bank Tanzania
- Website of Bank of Tanzania
- Website of the Advans SA Group
- CRDB Bank, NMB Top List of Hiring Lenders