Advans Bank Tanzania

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Advans Bank Tanzania
Type Private
Industry Financial Services
Founded 2011
Headquarters Dar es Salaam, Tanzania
Key people Brigette Laydeker
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Employees 70 (2012)
Website Homepage

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 national banking regulator.[1]

Overview[edit]

Advans Bank Tanzania is a commercial bank regulated by Bank of Tanzania (BOT) with social mission: Providing suitable and sustainable financial services (loans,deposit,payment means) to micro,small,and medium entrepreneurs as well as low and medium income employees. It operates as a microfinance bank.[2] In February 2011, the shareholders' equity was valued at about US$4.62 million (TZS:7.2 billion).[3]

History[edit]

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 capital city of Tanzania. Opening with a staff of eighteen, the bank plans to increase its staff numbers to sixty-nine by the end of 2011 and to open a second branch at another location in Dar es Salaam by 2012.[4][5]

Ownership[edit]

Advans Bank Tanzania is a joint venture between Advans SA, a venture capital firm registered in Luxembourg as majority shareholder and Netherlands Development Finance Company (FMO). 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, Advans SA has invested in excess of US$76 million (EUR:55 million), in the countries where they operate.[6] The table below depicts the shareholding within Advans Bank Tanzania:[7]

Advans Bank Tanzania Stock Ownership
Rank Name of Owner Percentage Ownership
1 Advans SA of Luxembourg 70.00
2 Netherlands Development Finance Company of Netherlands 30.00
Total 100.00

Branch Network[edit]

Advans Bank Tanzania maintains a network of branches at the following locations:[8]

  1. Main Branch - 93 Morogoro Road, Manzese, Dar es Salaam
  2. Kariakoo Branch - Kariakoo Street, Kariakoo, Dar es Salaam
  3. Temeke Branch - opposite Temeke primary court, [(Temeke,Dar es Salaam)]
  4. Mwanza Branch - Lumumba street ,[(Mwanza)]

Governance[edit]

The Chief Executive Officer (CEO) of Advans Bank Tanzania, is Mr Frank Snieders.

See also[edit]

References[edit]

External links[edit]