Exim Bank (Tanzania)
Company type | Private |
---|---|
Industry | Financial Services |
Founded | 1997 |
Headquarters | Exim Tower, Plot Number 1404, Block Number 05, Ghana Avenue, Dar es Salaam, Tanzania |
Key people | Said Ally Mwema Chairman Dinesh Arora Chief Executive Officer Selemani Ponda Chief Financial Officer |
Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
Revenue | Aftertax:TZS:3.37 billion (US$1.484 million) (2017)[1] |
Total assets | TZS:1.604 trillion (US$706.5 million) (2017)[1] |
Number of employees | 924 (2017)[1] |
Website | Company 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[update], 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[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]
Subsidiaries
As of March 2016[update], 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]
- Exim Bank (Tanzania) - Dar-es-Salaam, Tanzania
- Exim Bank (Comoros) - Moroni, Comoros
- Exim Bank (Djibouti) - Djibouti City, Djibouti.
- 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]
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[update], EBT maintains 33 branches at the following locations inside Tanzania:[12]
- Clock Tower Branch - Samora Avenue, Dar es Salaam
- Main Branch - Exim Tower, Dar es Salaam
- Mlimani Branch - Mlimani City, Dar es Salaam
- Samora Avenue Branch - 9 Samora Avenue, Dar-es-Salaam
- Kariakoo Branch - Morogoro Road, Dar es Salaam
- Namanga Branch - Namanga, Dar es Salaam
- Nyerere Road Branch - Nyerere Road, Dar es Salaam
- Temeke Branch - Chang'ombe, Dar es Salaam
- Ubungo Branch - Ubungo, Dar es Salaam
- Mwanza Branch - Kenyatta Road, Mwanza
- Arusha Branch - Goliondoi Road, Arusha
- Mount Meru Branch - Uhuru Road, Arusha
- Manyara Branch - Karatu, Arusha
- Moshi Branch - Boma Road, Moshi
- Tanga Branch - Independence Avenue, Tanga
- Zanzibar Branch - Mlandege Street, Zanzibar
- Morogoro Branch - Lumumba Road, Morogoro
- Mbeya Branch - Industrial Area, Mbeya
- Mtwara Branch - Tanu Road, Mtwara
- Iringa Branch - Iringa
- Shinyanga Branch - Shinyanga
- Tabora Branch - Tabora
- Karatu Branch - Karatu
- Kigoma Branch - Kigoma
- Kilimanjaro Branch - Moshi, Kilimanjaro
- Buguruni Branch - Buguruni, Dar es Salaam
- Babati Branch - Manyara
- Babati Mini Branch -Arusha
- Mwanakwerekwe Mini Branch- Zanzibar
- Ushirika Mini Branch - Ushirika Towers, Lumumba Street, Dar es Salaam
- Airport Branch - Julius Kambarage Nyerere International Airport, Dar es Salaam
- Dodoma Branch 1 - Dodoma[13]
- Dodoma Branch 2 - UDOM College of Informatics, Dodoma[13]
Governance
The Chairman of the Board is Mr. Said Ally Mwema, a non-Executive Director. The Chief Executive Officer is Mr. Dinesh Arora, who is a non-shareholder.
See also
References
- ^ 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.
- ^ 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.
- ^ 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.
- ^ Kasumuni, Ludger (16 August 2016). "Tanzania: Exim Bank Marks 19th Anniversary". The Citizen (Tanzania) via AllAfrica.com. Dar es Salaam. Retrieved 16 August 2016.
- ^ a b Beatrice Materu (14 November 2019). "Exim Expands, Buys All of UBL Business". The EastAfrican. Nairobi. Retrieved 15 November 2019.
- ^ "Exim Bank Tanzania: Company Profile and History". Ide.Go.Jp. Retrieved 7 November 2014.
- ^ 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]
- ^ Emmanuel Tumusiime-Mutebile (7 March 2016). "Exim Bank Uganda takes over Imperial Bank Uganda" (PDF). Kampala: Bank of Uganda. Retrieved 16 August 2016.
- ^ 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.
- ^ Coutinho, Brian (12 March 2016). "Tanzanian bank goes after Ugandan clients". East African Business Week. Kampala. Retrieved 14 March 2016.
- ^ 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.
- ^ EBT. "The Branches of Exim Bank Tanzania". Exim Bank Tanzania. Archived from the original on 12 January 2016. Retrieved 4 March 2016.
- ^ a b 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.