Tanzania Banking Survey 2011 FINAL April 2011

This report’s cover is a visualisation of the 850 headlines about banking that appeared in Tanzania’s
newspapers between January and December 2010. The size of the word represents how often that word
appeared in the headlines in 2010.
Published by Serengeti Advisers Limited
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Tanzania Banking Survey 2011 iii
Serengeti Advisers Limited
Serengeti Advisers is a consultancy firm based in Dar es Salaam with expertise

in corporate finance, economic and public policy analysis, and media and
communications. We seek to be the advisor of choice for wide range of clients,
include business, governments, NGOs and development agencies by drawing
on our significant local and international experience and networks. We provide
advisory services in three main areas:
Economic and Public Policy Analysis

Equipped with over a decade of experience and participation in East Africa’s economic and
public policy debates, Serengeti Advisers is deeply engaged in the region’s policy discourse
and strategising about economic growth, investment climate and private sector development.
Corporate Finance
Serengeti Advisers identifies, structures and executes diverse and innovative transactions for
corporations and other organizations, often working alongside financial institutions. These
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economies, industries and cultures, serve to help us deliver consistently high quality advice
and service.
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Serengeti Advisers’ understanding of the local economic, social and political landscape
has been acquired through years of professional experience across a wide-range of sectors
that include banking, investment and public relations. This unique perspective ensures an
unparalleled service offering in media monitoring, media analysis and communications in the
Tanzanian market.
iv Serengeti Advisers
Tanzania Banking Survey 2011 v
Acknowledgments
Serengeti Advisers Limited (SAL) wishes to acknowledge the contribution of all the various
individuals and organizations who made this publication possible.
We are especially grateful to the bank executives and staff who responded to our requests
for clarification. The excellent research and editorial support from the following colleagues
is gratefully acknowledged: John Bakilana, Salim Ally, Godfrey Lwakatare, Aloyce Msuri,
Paulsen Mrina, Victoria Massawe and Naima Sykes.
We also appreciate the technical brilliance of our website team: Arnold Minde for the motion
chart, Omar Mohammed for content oversight, Eneza Mnzava for strategic advice and Michael
Zaun for overall design and execution.
Finally, we thank the select group of banks who displayed their confidence in this publication
by supporting it through advertising.
While we have made every effort to ensure the accuracy of the facts contained in this report,
we regret any and all errors and omissions.
Aidan Eyakuze Bertram Eyakuze Abdu Simba

Director Director Director
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Contents
1 Introducing the Tanzania Banking Survey Report
3 Part One
5 Overview of Tanzania’s banking sector trends (2006-2010)
7 Part Two
9 Market share overview and ranking
10 Total Assets
11 Deposits
12 Loans
13 Investment in Government Securities
14 Total Revenue for the quarter ending December 31, 2010
15 Net profits for the quarter ending December 31, 2010
16 Provisions for bad and doubtful debts for the quarter ending Dec 31, 2010
17 Shareholders’ Funds (capital)
18 Number of Employees
19 Number of branches
21 Part Three
Individual Bank Profiles
Tanzania Banking Survey 2011 ix

x Serengeti Advisers
Introducing the Tanzania
Banking Survey Report
Since 2006, Serengeti Advisers has been collecting the quarterly financial
statements that are published by all regulated banks and non-bank financial
institutions as required by the Bank of Tanzania. At the heart of this report is the
presentation and analysis of these financial statements over the five-year period
between January 2006 and December 2010.
Objectives PART TWO: The second part ranks the banks across the following ten
indicators of size and performance as at December 31, 2010:
This report is motivated by Serengeti Advisers’ desire to provide: i total assets
• Information by compiling, packaging and presenting the facts and ii customer deposits
figures on Tanzania’s banking industry in one easily accessible iii total loans
reference document. iv investment in government securities
• Insight by identifying, highlighting and describing the trends v total revenue
that emerge from an analysis of the data, and suggest new and vi net profits
interesting interpretations of what these might mean for the banking vii provision for bad and doubtful debts
sector. viii shareholders’ funds (capital)
• Imagination by catalysing critical and creative thinking about how ix number of employees
these trends could shape the future of the Tanzania’s banking x number of bank branches
industry.
PART THREE: The third part presents the profiles and selected financial
This report will be of interest and value to, among trends for each of the 41 banks that had reported financial statements
others: by December 31, 2010. The profiles include information on shareholders,
directors, senior management. This information was gathered from the
i Shareholders, directors and senior banking industry executives who bank’s websites and published reports and were verified for accuracy by
want to compare their performance with that of their competitors. contacting individual banks for confirmation and clarification. The selected
ii Bank and other financial services regulators as a complement to financial trends analysis looks at,
their own analysis,
iii Legal, financial and investment professionals as well as students i Income and profit trends as a basic measure of performance,
and researchers who need to understand the structure and ii Customer deposits, loans and the ratio of non-performing
dynamics of Tanzania’s banking industry. loans to show how the heart of the bank’s business – financial
iv Domestic and foreign investors in Tanzania who want to know how intermediation between savers and borrowers – is performing, and
their bankers are performing relative to others. the
v General public who want to understand the industry and decide iii Structure of shareholders’ funds to highlight the depth and quality
where to keep their savings. of the banks’ capital.
vi Embassies, diplomatic and trade representatives who advise
investors about Tanzania’s banking sector. The report online
Structure of the report Finally, this report has an active and dynamic life online at
www.serengetiadvisers.com One of its key features is an interactive motion
The report is structured into three main parts. chart that brings the data to life by inviting visitors to explore and compare
the performance of any individual bank or group of banks across time. The
PART ONE: The first part presents a consolidated picture of Tanzania’s website is updated on a monthly basis with reports and analysis of the most
banking sector, and illuminates the trends in its size and performance. recent banking sector developments, and on a quarterly basis after all banks
have published their financial statements.
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PART ONE
Overview of Tanzania’s
banking sector trends (2006-2010)

4 Serengeti Advisers
Tanzania’s
banking sector
trends
Tanzania’s banking sector has grown significantly between The banking sector’s pool of shareholders funds (capital)
January 2006 and December 2010, starting with the number tripled from TZS 476 billion to TZS 1.7 trillion. Seven new
of reporting banks increasing from 33 to 41. entrants injected TZS 43 billion of capital during the period.
Two existing banks, which had not been publishing financial
The banking sector’s total assets have expanded 2.8 times statements in 2006, accounted for an additional TZS 40 billion
from TZS 5.5 trillion to TZS 15.3 trillion. Deposits also grew of capital. However collectively, these nine ‘new’ banks
2.8 times from TZS 4.4 trillion to TZS 12.4 trillion. Loans accounted for just 4.8% of the total pool of shareholders funds
expanded almost 3½ times to 5.9 trillion from TZS 1.7 trillion by December 2010.
while investments in government securities doubled from TZS
1.2 trillion in 2006 to 2.37 trillion in 2010.
Tanzania’s banking sector - comparing two quarters

March 31, 2006 December 31, 2010
Indicator TZS (million) USD (million) TZS (million) USD (million) % change
1. Assets 5,517,593 4,507 15,376,742 10,461 179
2. Deposits 4,452,116 3,637 12,476,064 8,488 180
3. Loans 1,758,578 1,436 5,924,008 4,030 237
4. Government securities 1,257,903 1,027 2,378,963 1,619 89
5. Shareholders’ funds 476,502 389 1,708,188 1,162 258
6. Total Revenue* 119,910 98 328,042 223 174
7. Net Profit* 42,023 34 28,950 20 (31)
8. Bad debt provision* 3,427 3 51,847 35 1413
9. Number of Employees 5,828 11,208 92
10. Number of (reporting) banks 33 41 24
Exchange rate TZS/USD (Weighted Average Rate) 1,224.25 1,469.85
Source: Serengeti Advisers analysis of bank financial statements. Exchange rate data is from the Bank of Tanzania website (www bot-tz.org). * Figure is for the relevant quarter only
The industry’s quarterly revenues have

grown from TZS 119 billion in Q1 2006 to
TZS 328 billion in Q4 2010.

Quarterly net profits have ranged from a low
of TZS 29 billion in Q4 2006 to a peak of TZS
86 billion in Q4 2008, the latter figure being
achieved at a time when the global financial
markets were in very deep trouble.
The industry’s profit margins have trended

downwards, suggesting an atmosphere of
increasingly robust competition.
Selected Industry Ratios

March 31, 2006 December 31, 2010
Loans/deposits 39.5% 47.5%
Govt securities/total deposits 28.3% 19.1%
Capital/total assets (capital adequacy) 8.6% 11.1%
Bad debt provision/total loans 0.2% 0.9%
Net profit/total revenue 35.0% 8.8%
The selected industry ratios reveal an interesting picture. First, The industry’s capital adequacy - measured as the ratio of
more deposits are being used to lend to the private sector in capital to total assets - strengthened from 8.6% in March
2010 (48%) compared to 2006 (40%). Associated with this is the 2006 to 11.1% in December 2010 and bad debt provision has
decline in the share of deposits used to invest in government remained low at less than 1%.
securities from 28% to 19%.
PART TWO
Market share overview and ranking
Market
share overview
and ranking
As the chart shows, Tanzania’s three largest banks by assets– seven largest banks only challenge the top three on industry
FBME Bank, CRDB Bank Plc and National Microfinance Bank capital with a 41% share. The remaining 31 banks share less
Plc - account for 40% of industry capital, 45% of its loans, 48% of than 20% of the market across all but one of these indicators,
its assets, half of its employees, 52% of deposits and 54% of its namely employee numbers where they account for 24% of the
branches and investments in government securities. The next 11,208 bank staff.
The market share

rankings are presented
in the following pages

Total Assets
Rank Bank TZS (million) USD Market share

1. FBME Bank 2,970,091 2,020,676,259 19.3%
2. CRDB Bank Plc 2,316,885 1,576,273,089 15.1%
3. National Microfinance Bank Plc 2,107,078 1,433,532,673 13.7%
4. National Bank of Commerce 1,471,220 1,000,932,068 9.6%
5. Standard Chartered Bank 1,077,901 733,340,817 7.0%
6. Exim Bank 691,646 470,555,499 4.5%
7. Stanbic Bank Tanzania 652,565 443,967,071 4.2%
8. Citibank Tanzania 551,570 375,255,979 3.6%
9. Barclays Bank Tanzania 526,831 358,425,009 3.4%
10. Diamond Trust Bank Tanzania 269,721 183,502,398 1.8%
11. Tanzania Investment Bank 246,248 167,532,741 1.6%
12. Commercial Bank of Africa 237,787 161,776,372 1.5%
13. Bank of Africa Tanzania 233,362 158,765,860 1.5%
14. BancABC Tanzania 222,195 151,168,487 1.4%
15. KCB Bank Tanzania 201,313 136,961,595 1.3%
16. Bank M 193,174 131,424,295 1.3%
17. Azania Bank 178,215 121,247,066 1.2%
18. The Peoples’ Bank of Zanzibar 141,350 96,166,275 0.9%
19. I&M Bank Tanzania 138,986 94,557,669 0.9%
20. Tanzania Postal Bank 121,594 82,725,448 0.8%
21. Dar es Salaam Community Bank 98,132 66,763,411 0.6%
22. Habib African Bank 97,134 66,084,294 0.6%
23. NIC Bank Tanzania 94,142 64,048,712 0.6%
24. Bank of Baroda Tanzania 91,631 62,340,375 0.6%
25. Akiba Commercial Bank 89,438 60,848,386 0.6%
26. International Commercial Bank 73,930 50,297,649 0.5%
27. Twiga Bancorp 59,552 40,515,699 0.4%
28. Bank of India Tanzania 39,257 26,708,168 0.3%
29. United Bank for Africa Tanzania 38,495 26,189,747 0.3%
30. AccessBank Tanzania 29,787 20,265,333 0.2%
31. Ecobank Tanzania 27,225 18,522,298 0.2%
32. Mkombozi Commercial Bank 24,980 16,994,931 0.2%
33. Tanzania Women Bank 16,938 11,523,313 0.1%
34. Uchumi Commercial Bank 9,856 6,705,446 0.1%
35. Mufindi Community Bank 6,792 4,620,880 0.0%
36. Mwanga Rural Community Bank 6,387 4,345,008 0.0%
37. Efatha Bank 6,340 4,313,365 0.0%
38. Kilimanjaro Co-operative Bank 6,059 4,122,299 0.0%
39. Mbinga Community Bank 5,253 3,574,079 0.0%
40. Kagera Farmers Co-operative Bank 5,175 3,521,053 0.0%
41. Tandahimba Community Bank 507 345,260 0.0%
Total 15,376,742 10,461,436,380 100.0%
*on December 31, 2010
Deposits

1. FBME Bank 2,664,090 1,812,491,071 21%
2. CRDB Bank Plc 2,014,453 1,370,516,039 16%
3. National Microfinance Bank Plc 1,820,137 1,238,314,794 15%
4. National Bank of Commerce 1,218,298 828,858,727 10%
5. Standard Chartered Bank 818,785 557,053,441 7%
6. Exim Bank 529,601 360,309,555 4%
7. Stanbic Bank Tanzania 479,556 326,261,863 4%
8. Barclays Bank Tanzania 395,511 269,082,559 3%
9. Citibank Tanzania 361,895 246,212,199 3%
10. Diamond Trust Bank Tanzania 220,952 150,322,822 2%
11. Bank of Africa Tanzania 202,521 137,783,447 2%
12. KCB Bank Tanzania 158,282 107,685,818 1%
13. Bank M 151,641 103,167,670 1%
14. Azania Bank 148,894 101,298,772 1%
15. Commercial Bank of Africa 130,623 88,868,252 1%
16. BancABC Tanzania 122,828 83,564,990 1%
17. The Peoples’ Bank of Zanzibar 117,702 80,077,559 1%
18. Tanzania Investment Bank 113,225 77,031,670 1%
19. Tanzania Postal Bank 107,797 73,338,776 1%
20. I&M Bank Tanzania 101,846 69,290,281 1%
21. Habib African Bank 84,516 57,499,745 1%
22. Akiba Commercial Bank 74,684 50,810,627 1%
23. Bank of Baroda Tanzania 71,346 48,539,647 1%
24. Dar es Salaam Community Bank 62,827 42,743,511 1%
25. International Commercial Bank 59,750 40,650,407 0%
26. NIC Bank Tanzania 55,436 37,715,413 0%
27. Twiga Bancorp 48,168 32,770,691 0%
28. Bank of India Tanzania 23,019 15,660,782 0%
29. United Bank for Africa Tanzania 20,589 14,007,552 0%
30. Ecobank Tanzania 16,589 11,286,186 0%
31. Mkombozi Commercial Bank 16,420 11,171,208 0%
32. AccessBank Tanzania 15,048 10,237,779 0%
33. Tanzania Women Bank 13,035 8,867,977 0%
34. Uchumi Commercial Bank 8,777 5,971,358 0%
35. Efatha Bank 5,812 3,954,145 0%
36. Kilimanjaro Co-operative Bank 5,568 3,788,142 0%
37. Mufindi Community Bank 4,963 3,376,535 0%
38. Kagera Farmers Co-operative Bank 3,877 2,637,963 0%
39. Mwanga Rural Community Bank 3,398 2,311,467 0%
40. Mbinga Community Bank 3,143 2,138,633 0%
41. Tandahimba Community Bank 463 314,658 0%
Total 12,476,064 8,487,984,731 100%

Loans

1. CRDB Bank Plc 1,123,292 764,222,200 19.3%
2. National Microfinance Bank Plc 857,784 583,586,080 12.8%
3. National Bank of Commerce 711,287 483,918,087 12.8%
4. Standard Chartered Bank 464,494 316,014,559 8.4%
5. FBME Bank 442,946 301,354,560 8.0%
6. Exim Bank 328,872 223,745,280 5.4%
10. Bank M 117,759 80,116,338 1.9%
13. Azania Bank 101,990 69,388,033 1.8%
18. I&M Bank Tanzania 76,032 51,727,448 1.1%
26. Twiga Bancorp 31,110 21,165,425 0.5%
33. Uchumi Commercial Bank 5,593 3,805,150 0.1%
34. Mwanga Rural Community Bank 3,966 2,698,132 0.1%
35. Mufindi Community Bank 3,640 2,476,443 0.1%
36. Kagera Farmers Co-operative Bank 3,011 2,048,590 0.1%
38. Efatha Bank 2,425 1,649,828 0.0%
39. Mbinga Community Bank 2,201 1,497,663 0.0%
40. Kilimanjaro Co-operative Bank 1,554 1,056,943 0.0%
Total 5,924,008 4,030,348,715 100.0%
Investment in
Government Securities
2. CRDB Bank Plc 426,829 290,389,496 17.9%
5. Exim Bank 134,452 91,473,280 5.7%
16. United Bank of Africa Tanzania 23,340 15,879,171 1.0%
19. FBME Bank 17,621 11,988,298 0.7%
20. I&M Bank Tanzania 16,925 11,514,821 0.7%
25. Azania Bank 7,572 5,151,546 0.3%
29. Bank M 2,466 1,677,722 0.1%
30. Efatha Bank 561 381,672 0.0%
31. Twiga Bancorp 297 202,061 0.0%
32. AccessBank Tanzania - - 0.0%
33. Kagera Farmers Co-operative Bank - - 0.0%
34. Kilimanjaro Co-operative Bank - - 0.0%
35. Mbinga Community Bank - - 0.0%
36. Mkombozi Commercial Bank - - 0.0%
37. Mufindi Community Bank - - 0.0%
38. Mwanga Rural Community Bank - - 0.0%
39. Tandahimba Community Bank - - 0.0%
40. Tanzania Women Bank - - 0.0%
41. Uchumi Commercial Bank - - 0.0%
Total 2,378,963 1,618,507,569 100.0%

Total Revenue

1. CRDB Bank Plc 54,191 36,868,388 16.5%
4. FBME Bank 37,089 25,233,187 11.3%
5. Barclays 19,121 13,008,810 5.8%
6. Exim Bank 16,050 10,919,482 4.9%
17. Bank M 4,299 2,924,788 1.3%
19. Azania Bank 3,545 2,411,811 1.1%
21. The Peoples Bank of Zanzibar 2,569 1,747,797 0.8%
22. I&M Bank Tanzania 2,288 1,556,907 0.7%
23. Twiga Bancorp 2,106 1,432,799 0.6%
28. Habib African Bank 1,411 959,962 0.4%
29. Mwanga Rural Community Bank 815 554,614 0.2%
30. Bank of India Tanzania 529 359,901 0.2%
31. Tanzania Women Bank 494 335,833 0.2%
32. Mufindi Community Bank 389 264,653 0.1%
33. Kagera Farmers Co-operative Bank 349 237,337 0.1%
34. Uchumi Commercial Bank 343 233,357 0.1%
35. Mkombozi Commercial Bank 342 232,677 0.1%
36. Ecobank Tanzania 305 207,504 0.1%
37. Mbinga Community Bank 193 131,571 0.1%
38. Kilimanjaro Co-operative Bank 181 122,928 0.1%
39. Efatha Bank 154 104,773 0.0%
41. United Bank for Africa Tanzania (708) (481,682) -0.2%
Total 328,042 223,180,767 100.0%
*for the quarter ending December 31, 2010
Net profits

2. CRDB Bank Plc 11,063 7,526,618 38.2%
3. FBME Bank 10,915 7,425,928 37.7%
4. Exim Bank 4,843 3,294,894 16.7%
8. Diamond Trust Bank Tanzania 1,210 823,213 4.2%
9. Dar es Salaam Community Bank 951 646,692 3.3%
10. International Commercial Bank 813 553,118 2.8%
11. BancABC Tanzania 652 443,583 2.3%
12. I&M Bank Tanzania 588 399,986 2.0%
13. NIC Bank Tanzania 346 235,398 1.2%
14. Akiba Commercial Bank 291 197,979 1.0%
15. Bank of Baroda Tanzania 283 192,537 1.0%
16. Bank M 261 177,569 0.9%
17. The Peoples’ Bank of Zanzibar 241 163,962 0.8%
18. Tanzania Investment Bank 236 160,561 0.8%
19. Commercial Bank of Africa 211 143,552 0.7%
20. Habib African Bank 203 138,109 0.7%
21. Twiga Bancorp 197 134,027 0.7%
22. Tanzania Postal Bank 196 133,347 0.7%
23. Bank of India Tanzania 157 106,814 0.5%
24. Bank of Africa Tanzania 148 100,691 0.5%
29. AccessBank Tanzania (2) (1,361) 0.0%
30. Stanbic Bank Tanzania (17) (11,566) -0.1%
31. Mbinga Community Bank (21) (14,546) -0.1%
32. Kilimanjaro Co-operative Bank (34) (22,950) -0.1%
33. Tandahimba Community Bank (83) (56,468) -0.3%
34. Azania Bancorp (105) (71,436) -0.4%
35. Efatha Bank (130) (88,444) -0.4%
36. Tanzania Women Bank (134) (91,020) -0.5%
37. Mkombozi Commercial Bank (237) (161,241) -0.8%
38. KCB Bank Tanzania (526) (357,860) -1.8%
39. United Bank for Africa Tanzania (2,502) (1,702,215) -8.6%
40. Ecobank Tanzania (4,141) (2,817,294) -14.3%
41. National Bank of Commerce (20,053) (13,642,889) -69.3%
Total 28,950 19,695,895 100.0%

Provisions for bad
and doubtful debts
1. KCB Bank Tanzania 815 554,478 -1.6%
2. Bank of Baroda Tanzania 568 386,434 -1.1%
3. Bank M 139 94,567 -0.3%
4. Tanzania Women Bank 132 89,851 -0.3%
5. National Microfinance Bank Plc 86 58,509 -0.2%
6. Kagera Farmers Co-operative Bank 78 53,053 -0.2%
7. NIC Bank Tanzania 63 42,862 -0.1%
8. The Peoples’ Bank of Zanzibar 56 38,099 -0.1%
9. Efatha Bank 43 29,255 -0.1%
10. AccessBank Tanzania 24 16,328 0.0%
11. Ecobank Tanzania 20 13,607 0.0%
12. Dar es Salaam Community Bank 10 6,627 0.0%
15. Mwanga Rural Community Bank 1 884 0.0%
16. Azania Bank - - 0.0%
17. Bank of India Tanzania - - 0.0%
18. Citibank Tanzania - - 0.0%
19. Mufindi Community Bank - - 0.0%
20. Standard Chartered Bank - - 0.0%
21. Twiga Bancorp - - 0.0%
22. Uchumi Commercial Bank - - 0.0%
23. United Bank for Africa Tanzania - - 0.0%
24. Mkombozi Commercial Bank (18) (12,246) 0.0%
25. Habib African Bank (34) (23,132) 0.1%
26. Mbinga Community Bank (45) (30,513) 0.1%
27. Tanzania Postal Bank (55) (37,419) 0.1%
28. Bank of Africa (83) (56,468) 0.2%
29. Tanzania Investment Bank (126) (85,723) 0.2%
30. I&M Bank Tanzania (262) (178,113) 0.5%
31. Akiba Commercial Bank (323) (219,750) 0.6%
32. Diamond Trust Bank Tanzania (346) (235,398) 0.7%
33. International Commercial Bank (401) (272,817) 0.8%
34. Commercial Bank of Africa (452) (307,514) 0.9%
35. Exim Bank (468) (318,400) 0.9%
36. Barclays Bank Tanzania (795) (540,872) 1.5%
37. Stanbic Bank Tanzania (1,225) (833,418) 2.4%
38. BancABC (1,667) (1,134,129) 3.2%
39. CRDB Bank Plc (7,745) (5,269,245) 14.9%
40. FBME Bank (8,289) (5,639,351) 16.0%
41. National Bank of Commerce (31,558) (21,470,218) 60.9%
Total (51,847) (35,273,911) 100%
Shareholders’ Funds (capital)

1. CRDB Bank Plc 242,282 164,834,507 14.2%
3. FBME Bank 205,343 139,703,371 12.0%
8. Exim Bank 77,333 52,612,852 4.5%
13. Azania Bank 21,757 14,802,191 1.3%
14. I&M Bank Tanzania 20,205 13,746,137 1.2%
16. The Peoples Bank of Zanzibar 18,530 12,606,729 1.1%
20. Bank M 15,492 10,539,851 0.9%
30. Twiga Bancorp 7,227 4,916,828 0.4%
40. Efatha Bank 414 281,661 0.0%
41. Mbinga Community Bank 402 273,191 0.0%
Total 1,708,188 1,137,296,195 100.0%

Number of Employees
Rank Bank Number Market share

1. National Microfinance Bank Plc 2,610 23.3%
2. National Bank of Commerce 1,496 13.3%
3. CRDB Bank Plc 1,437 12.8%
4. Barclays Bank Tanzania 668 6.0%
5. Exim Bank 477 4.3%
6. Stanbic Bank Tanzania 402 3.6%
7. Tanzania Postal Bank 392 3.5%
8. Akiba Commercial Bank 360 3.2%
9. Standard Chartered Bank 337 3.0%
10. FBME Bank 308 2.7%
11. KCB Bank Tanzania 246 2.2%
12. AccessBank Tanzania 210 1.9%
13. Diamond Trust Bank Tanzania 207 1.8%
14. Bank of Africa Tanzania 201 1.8%
15. Azania Bank 181 1.6%
16. The Peoples’ Bank of Zanzibar 163 1.5%
17. Tanzania Investment Bank 154 1.4%
18. Dar es Salaam Community Bank 132 1.2%
19. Bank M 127 1.1%
20. Twiga Bancorp 106 0.9%
21. Commercial Bank of Africa 104 0.9%
22. NIC Bank Tanzania 84 0.7%
23. International Commercial Bank 83 0.7%
24. Habib African Bank 82 0.7%
25. African Banking Corporation 80 0.7%
26. I&M Bank Tanzania 66 0.6%
27. Citibank Tanzania 58 0.5%
28. Ecobank Tanzania 52 0.5%
29. United Bank for Africa Tanzania 49 0.4%
30. Tanzania Women Bank 45 0.4%
31. Mkombozi Commercial Bank 37 0.3%
32. Mbinga Community Bank 37 0.3%
33. Bank of Baroda Tanzania 35 0.3%
34. Kilimanjaro Co-operative Bank 30 0.3%
35. Mufindi Community Bank 29 0.3%
36. Mwanga Rural Community Bank 29 0.3%
37. Kagera Farmers Co-operative Bank 23 0.2%
38. Uchumi Commercial Bank 23 0.2%
39. Efatha Bank 22 0.2%
40. Bank of India Tanzania 18 0.2%
41. Tandahimba Community Bank 8 0.1%
Total 11,208 100.0%
Number of branches
Rank Bank Number Market share

1. National Microfinance Bank Plc 138 29.4%
2. CRDB Bank Plc 60 12.8%
3. National Bank of Commerce 53 11.3%
4. Barclays Bank Tanzania 32 6.8%
5. Tanzania Postal Bank 27 5.8%
6. Exim Bank 19 4.1%
7. Akiba Commercial Bank 14 3.0%
8. Bank of Africa Tanzania 14 3.0%
9. KCB Bank Tanzania 11 2.3%
10. Stanbic Bank Tanzania 11 2.3%
11. Diamond Trust Bank Tanzania 10 2.1%
12. Azania Bank 7 1.5%
13. Standard Chartered Bank 7 1.5%
14. International Commercial Bank 6 1.3%
15. AccessBank Tanzania 5 1.1%
16. Commercial Bank of Africa 5 1.1%
17. Bank M 4 0.9%
18. Dar es Salaam Community Bank 4 0.9%
19. FBME Bank 4 0.9%
20. The Peoples’ Bank of Zanzibar 4 0.9%
21. Twiga Bancorp 4 0.9%
22. I&M Bank Tanzania 3 0.6%
23. NIC Bank Tanzania 3 0.6%
24. Tanzania Investment Bank 3 0.6%
25. BancABC Tanzania 2 0.4%
26. Bank of Baroda Tanzania 2 0.4%
27. Habib African Bank 2 0.4%
28. United Bank for Africa Tanzania 2 0.4%
29. Bank of India Tanzania 1 0.2%
30. Citibank Tanzania 1 0.2%
31. Ecobank Tanzania 1 0.2%
32. Efatha Bank 1 0.2%
33. Kagera Farmers Cooperative Bank 1 0.2%
34. Kilimanjaro Cooperative Bank 1 0.2%
35. Mbinga Community Bank 1 0.2%
36. Mkombozi Commercial Bank 1 0.2%
37. Mufindi Community Bank 1 0.2%
38. Mwanga Community Bank 1 0.2%
39. Tandahimba Community Bank 1 0.2%
40. Tanzania Women Bank 1 0.2%
41. Uchumi Commercial Bank 1 0.2%
TOTAL 469 100%

PART THREE
Individual Bank Profiles
33 Access Bank Tanzania 61 Ecobank Tanzania 89 National Bank of Commerce

35 Akiba Commercial Bank 63 Efatha Bank Limited 91 National Microfinance Bank Plc
37 Azania Bank 65 Exim Bank 93 NIC Bank Tanzania
39 BancABC Tanzania 67 FBME Bank 95 Stanbic Bank Tanzania
41 Bank M 69 Habib African Bank 97 Standard Chartered Bank Tanzania
43 Bank of Africa Tanzania 71 International Commercial Bank 99 Tandahimba Community Bank
45 Bank of Baroda Tanzania 73 I&M Bank Tanzania 101 Tanzania Investment Bank
47 Bank of India Tanzania 75 Kagera Farmers Co-operative Bank 103 Tanzania Postal Bank
49 Barclays Bank Tanzania 77 KCB Bank Tanzania 105 Tanzania Women Bank
51 Citibank Tanzania 79 Kilimanjaro Co-operative Bank 107 The People’s Bank of Zanzibar
53 Commercial Bank of Africa 81 Mbinga Community Bank 109 Twiga Bancorp
55 CRDB Bank Plc 83 Mkombozi Commercial Bank 111 Uchumi Commercial Bank
57 Dar es Salaam Community Bank 85 Mufindi Community Bank 113 United Bank For Africa
59 Diamond Trust Bank Tanzania 87 Mwanga Rural Community Bank Tanzania
Asset Ranking
30
as of December 31st 2010
Access Bank
Azania
Tanzania
Bancorp
Founded August 2007

Chairperson Mr. Dan Balke
Chief Executive Patrick Schoeneborn, Chief Executive Officer
Auditors PricewaterhouseCoopers
No. of Employees 210 Share Capital as of 31st December 2010
No. of Branches 5
No. of ATMs
Web Address
5; Member of Umoja ATM Network
www.accessbank.co.tz
TZS 10.00 bn
I
ncorporated in August 2007 by a nancial Services from Manchester Busi- ABT is a commercial
group of private and public inves- ness School, UK bank with a special focus
tors, AccessBank Tanzania Ltd • Mohamed Dahir Alin on microfinance. ABT
(ABT) is a commercial bank with a • Christoph Diehl provides financial services
special focus on microfinance. ABT • Karl-Heinz Fleischhacker to the many Tanzanians
provides financial services to the many • Stéphane Ryelandt who have not had access
Tanzanians who have not had access to to them
them. ABT has designed a set of core prod- Senior Management
ucts, notably Micro and SME loans, cur- • Patrick Schoeneborn, Chief Executive
rent and savings accounts, term deposits, Officer. Mr. Schoeneborn has been work-
money transfers and foreign exchange. In ing in the microfinance industry for the
three years of operation more than 45,000 past 7 years. Having joined AccessBank
accounts have been opened and 15,000 mi- Tanzania as Head of Credit and Deputy
cro and small business loans worth TZS 50 Chairperson of the Management Team,
Billion (USD 33.5 Million) have been dis- he took over the CEO post from Mr. Dav-
bursed. id James in April 2010. Before joining the
Bank October in 2008, he was the princi-
Shareholders
The largest shareholder, Access Microfi-
nance Holding AG, is the holding company
of a network of commercially oriented mi-
crofinance banks. ABT belongs to the fam-
ily of AccessBanks, which in addition to
Tanzania comprises microfinance banks
in Azerbaijan, Madagascar, Nigeria, Li-
beria and Zambia. Other shareholders in-
clude the International Finance Corpora-
tion (IFC), KfW (the German Development
Bank), the African Development Bank and
the Belgian Investment Company for De-
veloping Countries.
Board of Directors
• Dan Balke, Chairperson. Mr. Balke is one
of the Managing Directors of LFS Finan-
cial Systems GmbH. He holds a Masters
in Economics from Freie Universität Ber-
lin and an MBA with specialisation in Fi-

pal Investment Officer of ABT’s lead shareholder Access- come, which has been essentially flat, ticked up by almost 50%
Holding in Germany, and was closely involved in the es- between Q3 2010 and Q4 2010 driven by commissions and fees.
tablishment and licensing process of ABT and its network Since the start of operations, AccessBank has grown
banks in Madagascar, Nigeria and Liberia its loan portfolio fairly aggressively, from TZS 268 million in
• Julius Msikela, Chief Financial Officer Q4 2007 to TZS 13.9 billion by Q1 2010. This trend, however,
• Peter Konopka, Credit Manager flattened after Q1 2010. Deposits have increased from TZS
136 million to over TZS 17 billion. As the loan portfolio has
Selected Financial Trends grown, the share of non-performing loans climbed to 3.5% by
AccessBank Tanzania made losses during the first five quar- Q3 2010 before falling to 2.8% in Q4 2010.
ters of operations between Q4 2007 and Q4 2008. A substan- Paid-up share capital made up 100% of shareholders
tial jump in profit was recorded in Q1 2009. This was followed funds in Q4 2007. The losses incurred during AccessBank’s
by a loss-making Q2 2009 before a gradual rise in profits in first nine quarters reduced paid-up capital to just under 80%
the last two quarters of 2009. The profits remained constant by Q4 2009. Profits in Q1 and Q2 2010, driven by growth in
during the first two quarters of 2010, but fell into negative ter- interest income have helped stabilize the share of paid-up
ritory in the second half of the year. Interest income has been capital at around 80%, while accumulated losses made up al-
increasing significantly, especially in 2009. Non-interest in- most 20% of total capital.
Asset Ranking
25
as of December 31st 2010 Akiba
Commercial
Bank
Founded Founded 1993; Registered August 1997

Chairperson Professor Joseph Semboja
Chief Executive Mr. John Lwande, Managing Director
No. of Branches 14
No. of ATMs
Web Address
17 ATMs; Member of Umoja ATM Network
www.acbtz.com
TZS 8.17 bn
A
CB began operations in August 1997 as an ini- Board of Directors
tiative of over 300 Tanzanian entrepreneurs. • Professor Joseph Semboja, Acting Chairperson; Chief Ex-
The group’s vision and mission was to sup- ecutive Officer, Uongozi Institute
port the emergence of Tanzanian businesses • Mr. David M. Mosha, Chairperson, Inter Consult Ltd.
through the provision of financial services at • Mr. Patrice Mwaigomole, Associate Accountant/Consult-
all levels, by a Tanzanian-owned commercial bank that under- ant, Business Care Limited
stood Tanzanians and was committed to Tanzania. ACB’s vi- • Mrs. Carina Wangwe, Director of Information Technol-
sion is to be the Tanzanian bank of choice in the provision of ogy, Parastatal Pension Fund
financial services to micro-, small- and medium-sized enter- • Ms. Rita Van den Abbeel, Chief Financial Officer, Incofin c.v.s.o
prises. To realize this vision, the bank’s mission is to provide • Mr. Frank Streppel, Deputy Managing Director, Triodos
appropriate microfinance services in the most efficient and Investment Management B.V.
sustainable manner possible while simultaneously embracing • John Fischer, Vice President, ACCION Investments
the social and environmental interests of all its stakeholders. • Elizabeth Maro Minde, Managing Director, Kilimanjaro
ACB’s key target market is the low-income entrepre- Women Information Exchange Consultancy
neurs and salaried workers of Tanzania. It offers both indi- • Mr. Enrique Ferraro, Managing Director, ACCION Investments
vidual and solidarity group loan products catering to a broad
range of client income levels. The bank also provides other Senior Management
product offerings, including overdraft facilities, corporate • John Lwande, Managing Director. Mr. Lwande has more
loans and savings products. than 19 years of leadership, management skills and prod-
uct expertise to the post, having directed operations for
Shareholders microfinance institutions and commercial banks in Tanza-
ACCION Investments has complimented
the technical assistance with an invest-
ment of up to $2.5 million as part of a new
capitalization program. The investment
represents a 20% stake in the bank. Incofin,
FMO, Stichting Hivos-Triodos Fonds and
Stichting Triodos-Doen, and Tanzanian in-
vestors such as InterConsult Ltd., Parastatal
Pensions Fund and almost 70 private Tan-
zanian individuals, have invested a total of
$2.7 million in the capitalization.
ACCION supports the management
of ACB through the provision of key person-
nel in the management team, training and
short-term consultancies in other key areas
to build institutional capacity and expand
the bank’s portfolio. These areas include
technology, risk management, marketing
and human resources management systems.

nia, Zimbabwe, Kenya, Malawi and Zambia TZS 0.48 billion to TZS 1.43 billion in 2010.
• Ms. Juliana Swai, General Manager – Operations In the past 20 quarters, ACB’s deposits and loans have
• Mr. Anantapur Muralidhar, General Manager – Commerce shown steady growth. Deposits expanded 2.6 times from
• Mr. Lefani Yakobe, General Manager – Finance TZS 28.4 billion to TZS 74.6 billion, while lending expanded
• Mr. Hanshell Mwansa, General Manager – ICT 2.9 times from TZS 16.6 billion to TZS 47.8 billion. Non-per-
• Mr. Paul Mlay, Chief Internal Auditor forming loans have stayed within a 5-10% range during the
• Mr. David Rwiza, Head of Human Resources period from Q3 2006 to Q4 2010.
• Ms. Mary Mbelle, Head of Marketing and Communications The structure of ACB’s shareholder funds seems to re-
• Mr. Abel Tuntufye, Head of Risk and Compliance veal a significant amount of investor and regulatory activity on
• Mr. Ayoub Omary, Acting Company Secretary the bank’s capital structure. The amount of paid-up share capi-
tal started at TZS 2.79 billion in 2006, increased to a peak of
Selected Financial Trends TZS 9.57 billion in Q3 2008, before reducing to TZS 8.1 billion
With the exception of Q4 2007, ACB’s quarterly net income in Q2 2009. The share premium was a significant proportion
has been positive since 2006. Net interest income growth ac- of ACB’s capital structure in 2006, and between Q1 2008 to Q2
celerated from TZS 2.2 billion in Q4 2009 to reach just under 2009. Capital and regulatory reserves have taken on signifi-
TZS 3.0 billion a year later. Non-interest income tripled from cant importance in the five quarters from Q3 2009 to Q4 2010.
Asset Ranking
17
Azania Bancorp
Founded May 95; Fully licensed commercial bank Oct 04

Chairperson Mr. William E. Erio
Chief Executive Mr. Charles G. Singili, Managing Director
Auditors TAC ASSOCIATES Certified Public Accountants (T)
18.90
No. of Branches 7
No. of ATMs Member of Umoja ATM Network
Web Address www.azaniabank.co.tz TZS bn
A
zania Bank Ltd (formally • Mr. Nathan Mnyawami – Representing PPF Azania Bank has embarked
1st Adili Bancorp Ltd) was • Mr. Andulile J. Mwakalyelye, Represent- on branch expansion to
established in 1995 when ing EADB widen its footprint in the
individual Tanzanians to- • Mr. Eliud Sanga, representing LAPF country and reach to its
gether with two social • Mr. J.D. Minja, Representing Minority target market of SMEs,
security funds – National Social Security Shareholders individuals and NGOs
Fund (NSSF) and Parastatal Pension Fund • Mr. C.G. Singili, Managing Director
(PPF) – created the Bank. EADB joined the
shareholders in 2000 when the Bank was Senior Management
restructured and reorganized; and on Sep- • Charles G. Singili, Managing Director
tember 18, 2000 with a new board and man- • Mr. Singili is a Certified Public Account-
agement, Azania Bancorp came into being. ant (CPA-T)
In October 2004 Azania Bank was li- • Mr. R. Senkoro, Director of Finance
censed by the Bank of Tanzania to operate • Mr. B.K. Haule, Director of HR & Admin-
as a fully-fledged commercial bank with istration
the ability to operate current accounts. • Ms. Esther Mang’enya, Director of Credit
Since 2004 Azania Bank has embarked on • Mr. D.M. Rugaimukamu, Director of MIS
branch expansion to widen its footprint in
the country and reach to its target market of
SMEs, individuals and NGOs.
Shareholders
• National Social Security Fund (NSSF) – 35%
• Parastatal Pension Fund (PPF) – 30%
• Local Authorities Pension Fund (LAPF) – 14%
• Public Service Pension Fund (PSPF) – 12%
• East African Development Bank – 6%
• Individual Tanzanians – 3%
Board of Directors
• William E. Erio, Chairperson. Mr. Erio
is a lawyer and an Advocate of the High
Court of Tanzania. He is the Director
General of the PPF
• Ms. Kate D. Bandawe, Vice Chairperson,
Representing NSSF
• Mr. Yacuob M. Kidula, Representing NSSF
• Mr. Gabriel J. Silayo, Representing PSPF

• Mr. T.E. Mramba, Director of Banking Operations suming growth to TZS just under 149 billion by Q4 2010.
• Mr. G.N. Dimoso, Director of Legal Services Loan growth tracked deposits until Q4 2009, when the two
• Mr. G.E. Seiya, Director in MD’s Office trends uncoupled, as loan growth flattened for the following
four quarters. The share of non-performing loans declined
Selected Financial Trends1 from 5% to 2% by Q3 2008. After that the trend reversed
Azania Bank’s net interest income has shown fairly steady itself to peak at 8% a year later in Q3 2009. It stayed at 2%
growth since 2006, while non-interest income has hovered through most of 2010 before rising to 4% in the final quarter.
around the TZS 500 million level since Q3 2007. Profitability The structure of Azania Bank’s shareholders funds is
has remained volatile, with three of the ensuing twelve quar- composed overwhelmingly of paid-up share capital. It ac-
ters dipping into loss-making territory (Q2 2008, Q3 2009 counted for 80% of the bank’s capital in 2006, and with ad-
and Q4 2010). However, in four of the twelve quarters, Aza- ditional injection of TZS 10.5 billion between 2009 and 2010
nia achieved profits of TZS 500 million and more. its share increased to almost 90%. The bank’s accumulated
Deposits expanded from TZS 30 billion in Q2 2006 to losses were eliminated by 2009 after which retained earn-
about TZS 110 billion in Q3 2009, dipped slightly before re- ings and quarterly profits have been mostly positive.
1
Financial data for Q1 2006 was not available.
Asset Ranking
14
BancABC
Azania
Tanzania
Bancorp
Founded 1996; Fully licensed commercial bank – 2002

Chairperson Dr. Jonas Kipokola
Chief Executive Mr. Israel Chasosa, Managing Director
21.76
No. of Branches 3
No. of ATMs 0
Web Address www.africanbankingcorp.com TZS bn
T
he African Banking Corpo- velopment Finance Company Ltd (TDFL) BancABC offers tailored
ration of Tanzania Limited from the existing international shareholders banking services to a
(ABC Tanzania), which was (IFC, CDC, DEG, FMO and EIB). The Gov- wide range of customers,
renamed BancABC as of April ernment of Tanzania has remained a key from multi-national
2010, commenced operations shareholder (32%) in TDFL. organizations, to small
in Tanzania in 1996 as an asset financing in- and medium-sized
stitution under the joint ownership of CDC Board of Directors corporates, parastatals,
Capital Partners (CDC), International Fi- • Dr. Jonas Kipokola, Chairperson. Dr. educational institutions,
nance Corporation (IFC), Tanzania Devel- Kipokola is an Economist. He holds a PhD non-governmental
opment Finance Company Ltd (TDFL), and in Economics from Boston University. He organizations,
the Union Dominions Corporation (UDC). It is a retired senior civil servant who held professional bodies and
was granted full commercial banking status various positions in the Government of private individuals seeking
by the Bank of Tanzania in 2002. Tanzania. investment advice, wealth
BancABC offers tailored banking • Wilfred Nyachia, Director creation and management
services to a wide range of customers, from • Mr. Oliver Chidawu services
multi-national organizations, to small and • Mr. Douglas Munatsi
medium-sized corporates, parastatals, edu- • Mr. Israel Chasosa, Managing Director
cational institutions, non-governmental
organizations, professional bodies and pri-
vate individuals seeking investment advice,
wealth creation and management services.
Product offerings include Treasury Servic-
es, Investment Banking, Corporate Banking
and Structured Trade Finance.
Shareholders
ABC Holdings Limited is registered and
listed in Botswana, with a secondary listing
on the Zimbabwe Stock Exchange in 2000.
The Group’s shareholders include among
others Old Mutual Life Assurance of Zimba-
bwe, the International Finance Corporation
(IFC), Botswana Insurance Fund Managers
(BIFM), Botswana Public Officers Pension
Fund and Citi Venture Capital Investments
- the investment arm of Citibank. In 2004,
the Group successfully concluded the ac-
quisition of a 68% interest in Tanzania De-

Senior Management since 2006. Deposits grew 4½ times from TZS 27 billion to
• Mr. Israel Chasosa, Managing Director (Tanzania) TZS 123 billion. Loans expanded five times from TZS 18 bil-
• M. Zubery, Country Head of Finance lion to TZS 98 billion in Q4 2008, after which the loan book
• J. Kimori, Head of Internal Audit remained quite flat. The share of non-performing loans de-
clined from 14% in Q1 2006 to around 2% in Q1 2009. This
Selected Financial Trends positive trend seems to have reversed with the rate returning
Banc ABC’s quarterly interest and non-interest income have to just over 12% in Q4 2010.
tracked steadily upwards since 2006. Banc ABC has been The structure of the bank’s shareholders funds has
profitable on a quarterly basis since Q3 2007 and the first evolved significantly from Q1 2006, when retained losses ac-
three quarters of 2010 have seen profits increase steadily to counted for 40% and paid up share capital for just under 60%.
TZS 1.2 billion by September 2010, matching the level last By Q4 2010 retained losses were less than 10% and paid-up
reached eleven quarters earlier in Q4 2007. A TZS 1.7 billion share capital accounted for about 80% of shareholders funds.
provision for bad debts reduced net profits to TZS 652 mil- Banc ABC shored up its capital base by injecting a total TZS
lion in Q4 2010. 12.18 billion in new paid-up share capital, increasing it from
Banc ABC’s deposits and loans have been growing TZS 9.6 billion in 2006 to TZS 21.8 billion in Q3 2008.
Asset Ranking
16
Azania
BankBancorp
M
Founded February 2007

Chairperson Hon. Nimrod Mkono (MP)
Chief Executive Mr. Sanjeev Kumar, Chief Executive Officer
Auditors Deloitte & Touche
12.77
No. of Branches 4
No. of ATMs 0
Web Address www.bankm.co.tz
TZS bn
B
ank M Tanzania Limited of the Negus Group of Companies. The bank offers services
(Bank M) is a fully-fledged • Sean Patrick Breslin. Mr. Breslin is the in corporate banking
commercial bank regulated founder director of Gissings Limited with special emphasis
by the Bank of Tanzania. The • Ramesh Patel. Mr. Patel is Chairperson of on debt and foreign
Bank was issued a license to the Automech Group of Companies exchange business. It
undertake banking business in the United has investment banking
Republic of Tanzania by the Bank of Tanza- Management capabilities and offers
nia in February 2007 and opened its doors • Sanjeev Kumar, Chief Executive Of- advisory services in debt
for business in July 2007. Bank M is a fo- ficer. Mr. Kumar is a career banker, with or equity capital-raising,
cused corporate and investment Bank, tar- more than 25 years of work experience in debt syndication and
geting Tanzania’s mid-market companies South Asia, United Kingdom and Africa mergers and acquisitions
engaged in manufacturing and trading. The with State Bank of India (SBI), BNP Pari-
bank offers services in corporate banking bas, Strategic Capital Corporation and
with special emphasis on debt and foreign Diamond Trust Bank
exchange business. It has investment bank- • Ganpath Pillai, Chief Operating Officer
ing capabilities and offers advisory services • Yahaya Mbanka, Financial Controller
in debt or equity capital-raising, debt syndi- • Ravikumar Devareddy, Chief Risk Officer
cation and mergers and acquisitions.
Shareholders
Bank M’s investors are three business groups
based in Tanzania, with wide ranging trad-
ing, manufacturing and real estate business
interests in the East African region. PRIDE,
the largest microfinance institution in East
Africa, is also a shareholder of the bank.
Board of Directors
• Hon. Nimrod Mkono (MP), Chairperson.
Hon. Mkono is the founding partner of
Mkono & Co., a prominent law firm in the
country. He is the Member of Parliament
for Musoma Rural
• Iddi Simba. Mr. Simba is Chairperson of
PRIDE Tanzania
• Fidahussein Rashid. Mr. Rashid is Chair-
person of the Africarriers Group
• Vimal Mehta. Mr. Mehta is Chairperson

• Abdul Bandawe, Head of IT positive territory from Q1 2009 to reach about TZS 1.5 billion
• Waseem Arain, Head of Corporate Banking in Q3 2010. It dropped to TZS 261 million in Q4 2010 due to a
• Jacqueline Woiso, Head of Transaction Banking TZS 1.34 billion income tax provision.
• Godfrey Utouh, Head of Internal Audit Bank M started with just TZS 8.9 billion in deposits
• Sammy Lwendo, Acting Treasurer but this has grown to TZS 152 billion by Q4 2010. Loans have
• Johnson Mshana, Communications Director also grown steadily from TZS 1.4 billion to TZS 118 billion
• Ambrose Nshala, Head of Corporate Affairs during the same period. After being reported at a flat rate of
0.0%, the rate of non-performing loans increased in 2010 to
Selected Financial Trends reach 5% in Q3 2010, before dropping to 3% in Q4 2010.
Bank M’s income has been trending upwards from the out- Bank M’s early losses ate into the paid-up share capi-
set. Net interest income has increased from less than TZS tal to the point where it represented less than 80% of capital
150 million to over 2.5 billion in three years. Non-interest for all of 2008. The balance of more than 20% was in accu-
income has tracked the same growth pattern – from TZS 75 mulated losses. Since Q1 2008, TZS 8.251 billion in new share
million to TZS 1.9 billion in Q3 2010, before dropping slightly capital has been injected by shareholders. Accumulated loss-
to TZS 1.7 billion in Q4 2010. After net losses during the first es have declined as quarterly profits grew and increased the
six quarters of operation, Bank M’s net profit has remained in total volume of shareholders funds.
Asset Ranking
13
Bank of Africa
Azania
Tanzania
Bancorp
Founded September 1995 as Eurafrican Bank, acquired in
2007 by Bank of Africa Group
Chairperson Ambassador Fulgence Kazaura
Chief Executive Mr. Kobena Andah, Managing Director
15.25
No. of Branches 14
No. of ATMs 16; Member of the Umoja Switch Consortium
Web Address www.boatanzania.com
TZS bn
B
ank of Africa (Tanzania) began operations in • Mr. Emmanuel Ole Naiko, Director
Tanzania in June 2007 after acquiring Euraf- • Mr. Vincent De Brouwer
rican Bank which had been operating in Tan- • Mr. Shakir Merali
zania since September 1995. The customer base • Mr. Peter Lock
ranges from multinational companies, govern- • Mr. Henri Laloux
ment institutions, non-governmental organizations, small
businesses and individuals. It offers a range of corporate and Senior Management
retail banking products and services through a network of • Kobena Andah, Managing Director is a member of Insti-
14 branches in Dar es Salaam, Mwanza, Arusha, Moshi, Mo- tute of Chartered Accountants Ghana. He holds an MBA in
rogoro, Mbeya and Tunduma. Banking from University of Wales and a second one from
Manchester Business School
Shareholders • Eric Tenie Ouattara, Deputy General Manager – Risk
• Bank of Africa Group – 34.15% Management
• Belgian Investment Company for Developing Countries – 22.07% • Wasia Mushi, Deputy General Manager - Commercial Banking
• AUREOS East Africa Fund LLC (AEAF) – 18.59% • Mbajo Pius Mchomvu, Assistant General Manager - Inter-
• Tanzania Development Finance Company Ltd (TDFL) – 11.00% national & Institutional Banking
• AFH-Ocean Indien – 6.42% • Mussa Mwachaga (CPA-T) – Acting Financial Controller
• Netherlands Development Finance Corporation (FMO) – 2.56% • Patrick Malewo, Assistant General Manager (AGM) - Le-
• Others – 5.21% gal, Compliance & Recovery
The bank’s major shareholder - Bank of Africa Group • Willington Munyaga, AGM - ICT
- is a Pan-African private bank founded in Mali in 1982. It • Jeromin Kimario, AGM - Retail Banking
has about 250 operating and support offices
in 13 countries employing more 3,000 peo-
ple. The Bank of Africa Group operates in
twelve other African countries.
Board of Directors
• Ambassador Fulgence Kazaura, Chair-
person. Ambassador Kazaura holds a
Bachelors degree in Economics and a
Masters of Arts from St. Johns College,
Cambridge University in the United
Kingdom. He is currently the Chancellor
of the University of Dar es Salaam.
• Paul Derreumaux, Chairperson, Bank of
Africa Group. Mr. Derreumaux, a French
national, holds a Masters degree in Eco-
nomics. Mr. Derreumaux is the found-
ing member of the Bank of Africa Group,
which started as BOA – Mali in 1982.

• Rose Mbonea, AGM - Audit & Investigation 15.4 billion to TZS 103 billion during the same period. The ra-
• Mercy Msuya, AGM - Human Resources & Administration tio of non-performing loans has been brought under control,
• Mariaconsolata Wapalila, AGM – Operations falling from around 16% in Q1 2006 to 2.6% in Q4 2010, de-
spite a reversal between Q3 2008 and Q1 2009.
Selected Financial Trends Prior to 2006, the bank had accumulated significant
Profits at Bank of Africa (T) have been positive since 2006, retained losses of TZS 3.3 billion, which accounted for over
except in Q4 2008 when it dipped into loss-making territory. 20% of shareholders funds. The trend shows a consistent re-
Since then, profits have recovered to reach TZS 855 million duction in these accumulated losses to the point where by Q1
in Q3 2010, only to drop to TZS 148 million in Q4 2010. The 2010, they were no longer a feature of the capital structure.
drop in profits was the result of a drop in non-interest in- To achieve this, in addition to the bank’s profitability, share-
come, coupled by an increase in non-interest expenses. Prof- holders have come in with fresh injections of capital. The
itability has been driven by the steady growth in quarterly bank’s paid up share capital increased by more than TZS 8.77
interest and non-interest income. billion during this period (from TZS 6.47 billion to TZS 15.25
The bank’s deposits have increased almost five times billion) by converting TZS 4.428 billion from share premium
from TZS 42 billion in Q1 2006 to TZS 203 billion by Q4 2010. into share capital, injecting TZS 3.263 billion in new share
Loans have grown even faster, by over six times from TZS capital and an additional TZS 1.08 billion in other funds.
Asset Ranking
24
Bank of Baroda
Azania
Tanzania
Bancorp
Founded 1956 then nationalized; Reopened branch 2004

Chairperson Mr. Rajiv K. Bakshi
Chief Executive Deba Prasad Gayan, Managing Director
Auditors Baker Tilly DGP and Company
No. of Branches 2
No. of ATMs
Web Address
2
www.bankofbaroda.com
TZS 10.00 bn
B
ank of Baroda (BoB) is the Selected Financial Trends Bank of Baroda (BoB) is
third largest public sector In the 20 quarters, Bank of Baroda’s net in- the third largest public
bank in India, after the State terest income and non-interest income have sector bank in India, after
Bank of India and the Pun- shown a fairly unsettled pattern since Q1 the State Bank of India
jab National Bank. BoB has a 2006. Net interest income increased from and the Punjab National
network of over 3000 branches and offices, TZS 377 million in Q1 2006, peaked at over Bank. BoB has a network
and about 1,100 ATMs. In 1956, Bank of Bar- TZS 1.0 billion in Q4 2007, declined to the of over 3000 branches and
oda opened a branch in Dar es Salaam. Over lowest point of TZS 346 million in Q2 2010 offices, and about 1,100
the next several years, the Bank’s presence before rebounding to the best recorded per- ATMs
grew to three branches. However, in 1967, formance of just under TZS 1.2 billion in Q4
the Tanzanian government nationalized 2010. Quarterly non-interest income stayed
the bank’s three branches and transferred in the TZS 200-400 million range while
their operations to the government-owned profits fluctuated quite widely, ranging
National Bank of Commerce. In 2004, Bank from a loss of TZS 256 million in Q3 2007 to
of Baroda returned to Tanzania and it cur- a profit of over TZS 1.0 billion in Q2 2010.
rently operates branches in Dar es Salaam Bank of Baroda’s deposits grew
and Arusha. strongly from TZS 21.5 billion in Q1 2006, to
Shareholders
• Bank of Baroda (India) – 100%
Board of Directors
• Mr. Rajiv K. Bakshi, Chairperson
• Mr. Umaknat K. S. Bijapur
• Mr. Anil K. Gaindhar
• Mr. Krishan N. Manvi
• Mr. Rajenda K. Garg
• Mr. Piyush Nag
• Mr. Matthew L. Luhanga
• Mr. N.R. Badrinarayanan
Senior Management
• Deba Prasad Gayan, Managing Director
• Mr. Anil Gaindhar, Chief Manager
• Mr. Tuntufye L. Mwaiteleke, Finance
Manager
• Ms. Enna V. Mwakipesile, Internal
Auditor

TZS 71.3 billion by Q4 2010. Loan expansion has been equally bank that is posting profits and growing the share of retained
robust, increasing three-fold from TZS 9.8 billion to over TZS earnings in the capital structure, while that of the paid-up
36 billion. The ratio of non-performing loans shows a sharp share capital declines from 90% in Q1 2006 to just over 50%
increase to over 12% from 0% within four quarters from Q3 by Q4 2010. Shareholders have injected capital just once - in
2006 to Q3 2007. Since then it has declined to 3% by Q4 2010. Q2 2006 - which raised the paid up capital from TZS 6.5 bil-
The structure of BoB’s shareholders funds shows a lion to TZS 10 billion.
Asset Ranking
28
Bank of India
Azania
Tanzania
Bancorp
Founded Incorporated July 16, 2007

Chairperson Mr. B.A. Prabhakar
Chief Executive Mr. Ramesh Kadam, Chief Executive Officer
Auditors Baker Tilly DGP and Company
No. of Branches 1
No. of ATMs
Web Address
0
www.bankofindia.com
TZS 10.00 bn
B
ank of India (BoI) opened a TZS 100–200 million range since 2009. In 2008, BoI established
branch in Tanganyika in 1955. After posting positive profits in Q1 2008, a subsidiary in Dar es
In 1967, the Government of losses were experienced by Q3 and Q4 2008, Salaam, marking its return
Tanzania nationalized BoI’s and then again in Q4 2009. 2010 was a con- to Tanzania after 37 years
operations and folded them sistently profitable year.
into the government-owned National Bank Deposits have been steadily grow-
of Commerce. In 2008, BoI established a ing since 2008, surpassing the TZS 20 bil-
subsidiary in Dar es Salaam, marking its re- lion level in Q3, 2010. Loans increased from
turn to Tanzania after 37 years. TZS 2.26 billion in Q3 2008 peaked at al-
The parent company is the Bank of most TZS 15 billion in Q1 2010. Lending
India (BoI), which was established on 7 Sep- scaled back to TZS 12.5 billion by Q3 2010,
tember 1906. It was nationalized in 1969 and before ending up at TZS 14.7 billion in Q4
is one of India’s leading banks, with over 2010. BoI’s non-performing loans ratio has
3,400 branches including 29 branches out- stayed below 0.2% during the entire re-
side India. It is headquartered in Mumbai. porting period.
In 2008, about 96% of BoI’s share-
Shareholders holders fund was made up of paid-up share
• Bank of India Mumbai (India) – 100%
Board of Directors
• Mr. B.A. Prabhakar, Chairperson
• Mr. Hashim M. Kihwelo
• Mr. Suresh Gajjar
• Mr. Kothanandraman Swaminathan
• Mr. M.B. Dhodia
• Mr. Ramesh Kadam
Management
• Ramesh Kadam, Chief Executive Officer
• G.V. Sridharan, Chief Manager
• H.N. Ayoh, Internal Auditor. Mr. Ayoh is a
Certified Public Accountant (CPA-T)
Selected Financial Trends

Bank of India’s net interest income has been
on a steady positive trend since Q2 2008 and
reached almost TZS 400 million by Q2 2010.
Non-interest income has stayed within the

capital of TZS 6.5 billion. In 2009, TZS 3.5 billion of share tion of paid up capital in shareholders funds. In Q1 2010, a
capital was injected and TZS 210 million was capitalized as further TZS 232 million in profits was capitalized as retained
retained earnings. The profit performance for the first three earnings and by Q4, profits made up almost 9% of the bank’s
quarters of that year are reflected in the declining propor- shareholders funds.
Asset Ranking
09
Barclays Bank
Azania
Tanzania
Bancorp
Founded 2000
Chairperson Dr. Ramadhani Dau
Chief Executive Mr. Kihara Maina, Managing Director
No. of Branches 32
No. of ATMs
Web Address
53
www.barclays.com
TZS 53.27 bn
S
ince the business was estab- Senior Management Barclays Bank Tanzania,
lished more than 300 years • Christopher Kihara Maina, Managing part of the global Barclays
ago, Barclays has grown to of- Director. Mr. Maina has an MBA from Group, offers retail
fer a range of products and the University of Chicago and is a mem- banking and corporate
services through more than ber of the Tanzania Bankers Association banking, merchant
144,000 employees in over 50 countries. and the Financial Markets Association of cards, small and medium
Barclays Bank Tanzania, part of the global Kenya (ACI Kenya) term financing, wealth
Barclays Group, offers retail banking and • Ajay Mathur, Chief Operating Officer management products and
corporate banking, merchant cards, small • Samuel Abwoga, Chief Finance Officer services.
and medium term financing, wealth man- • Aziz Chacha, Country Treasurer
agement products and services. • Zahid Mustafa, Director of Consumer
Barclays first entered the Tanza- Banking
nia market in 1925 and continued to oper- • David Lubira, Commercial Director
ate until 1967 when its operations in the • Paul Russo, Head of Human Resource
country were nationalized and folded into • Kati Kerenge, Head of Corporate Affairs
the National Bank of Commerce. The bank • Kenneth Kamurasi, Country Head of In-
re-entered Tanzania in 2000 after the lib- ternal Audit
eralization of the economy. Barclays Bank
Tanzania serves more than 114,300 custom-
ers and clients across the country through a
network of 53 ATM’s and 32 branches.
Shareholders
• Barclays Bank Plc – 100%
Board of Directors
• Dr. Ramadhani Dau, Chairperson. He is
also the Director General of the National
Social Security Fund (NSSF).
• Christopher Kihara Maina, Managing
Director
• Samuel Abwoga, Executive Director
(Chief Financial Officer)
• Aazar Khwaja, Non- executive Director
• Murtaza Nasser, Non-executive Director
• Simon Mponji, Non-executive Director
• Elizabeth Willilo, Company Secretary

Selected Financial Indicators to reach TZS 396 billion in Q4 2010. Loan growth trended
Barclays’ quarterly net interest income grew strongly to Q4 closely with deposits but it has flattened out in the eight
2008, after which growth slowed to a plateau of about TZS 7.0 quarters since Q1 2009. Following a sharp increase in early
billion per quarter through 2010. Non-interest income was ro- 2006, Barclays’ non-performing loans ratio declined from
bust, until it posted a TZS 929 million loss in Q3 2008, push- 15% in Q3 2006 to 5% by Q3 2008. This trend reversed itself
ing overall profitability into deep negative territory that quar- from Q4 2008 and has risen to over 20% by Q4 2010.
ter. Profits rebounded in the next two quarters, after which The share of paid up share capital in Barclays’ capital
the trend turned negative until Q3 2010. In Q4 2010, a healthy structure has been increasing, signaling significant injec-
profit of TZS 2.97 billion was achieved, helped by a 136% in- tions of shareholder support during the past twenty quarters
crease in non-interest income. to offset the quarterly losses. Paid-up share capital increased
Barclays’ deposits grew steadily from TZS 194 billion from TZS 18.75 billion to TZS 53.2 billion, a change of TZS
in Q1 2006 to peak at TZS 414 billion in Q4 2008. After dip- 34.5 billion. Its share of the capital structure expanded from
ping between Q4 2008 and Q4 2009, deposit growth resumed under 60% to just under 80% during the same period.
Asset Ranking
08
Citibank
Azania
Tanzania
Bancorp
Founded May 1995

Chairperson
Chief Executive Mr. Jamal Ali Hussein, Managing Director
Auditors KPMG
9.66
No. of Branches 1
No. of ATMs 0
Web Address www.citibank.com TZS bn
C
itigroup is a leading global Senior Management Citigroup is a leading
financial services company. • Jamal Ali Hussein, Managing Director. global financial services
It has approximately 200 Mr. Hussein is an international banker company. It has
million customer accounts who holds an MBA from Harvard Uni- approximately 200 million
and does business in more versity customer accounts and
than 140 countries. Citibank Tanzania was • Gasper Njuu, Head of Corporate Banking does business in more than
formally opened on May 8, 1995 as a fully • Iddi Msonga, Director of Finance 140 countries
owned subsidiary of Citibank NA. It is a • Agipinus Tax, Chief Internal Auditor
full commercial service bank with a well-
defined emphasis on providing facilities and Selected Financial Trends
services to the public and private sector cor- Citibank’s profitability has remained high
porations, airlines, embassies pension funds but fairly volatile, ranging between TZS
and non-governmental organisations. Since 2.3 billion and TZS 8.4 billion per quar-
its establishment, Citibank Tanzania has ter since 2006. In Q2 2008, something in-
been an important participant in the devel- teresting happened. In a complete switch
opment of Tanzania’s financial market.
It acted as the Lead Advisor for the
Initial Public Offering for the first company
to be listed on the Dar es Salaam Stock Ex-
change and was the first bank to issue com-
mercial paper, forward sale and purchase of
foreign exchange in the market.
Shareholders
• Citibank NA – 100%
Board of Directors
• Ade Ayeyemi. Mr. Ayeyemi is Citibank’s
Regional Head for East Africa
• Kellen Kariuki. Ms. Kariuki is Citibank’s
Senior Vice President for Middle East and
Africa
• Wilson Chola
• Victor Onyango
• Kennedy Mubita

from the previous nine quarters, Citibank started earning book has shrunk since then to TZS 96 billion. Citibank has
more from non-interest income than from interest income, reported no non-performing loans in its books since 2006.
and the gap between the two has widened since then. Citibank’s shareholder funds are founded on the
Profits, which had previously been loosely determined by bank’s strong profitability. Retained earnings and quar-
interest income, are now driven by non-interest income. terly profits accounted for just under 80% of the sharehold-
Citibank’s deposits seemed to follow a cyclical pat- ers funds. This share has grown to 92% by Q4 2010. The
tern, fluctuating between TZS 200-250 billion and TZS 350 amount of paid-up share capital has remained unchanged
billion. The highest point was in Q2 2010 when the deposits at TZS 9.66 billion throughout the period. Citibank has paid
reached TZS 388 Billion. Lending grew between 2006 and Q2 almost TZS 15.8 billion in cash dividends to its shareholder
2009 to reach a peak of TZS 157 billion in Q2 2009. The loan in Q1 2007 and Q1 2008.
Asset Ranking
12
Commercial
Bank of Africa
Founded 2002 (then United Bank of Africa)

Chairperson Mr. Ndewirwa N. Kitomari
Chief Executive Mr. Yohane Kaduma, Chief Executive Officer
11.98
No. of Branches 5
No. of ATMs Member of the Umoja Switch
Web Address www.cba.co.tz TZS bn
C
ommercial Bank of Africa Limited (CBA) is politician in Tanzania, a former Cabinet Minister and has
the largest privately owned Kenyan bank. served many boards, including that of Tanzania Harbours
CBA was founded in 1962 in Dar-es-Salaam, Authority in the 1970s and 1980s
Tanzania and quickly established branches in • Isaac O. Awuondo
Nairobi and Mombasa in Kenya, and also in • Muhoho Kenyatta
Kampala, Uganda. With the nationalization of banks in Tan- • Stuart Armitage
zania, CBA reincorporated itself in Kenya in 1967. In light of
developments in Uganda in 1971 it sold the Kampala branch. Management
CBA originally commenced business as a subsidiary • Yohane Kaduma, Chief Executive Officer. Mr. Kaduma
of Societe Financiere pour les pays D`Outre Mer (SFOM), a joined CBA from NBC Bank, where he was the Head of
Swiss-based consortium bank with interests in financial in- Corporate Banking. He has worked in different capacities
stitutions throughout Africa. Original consortium members for Stanbic Bank Tanzania, Citibank Tanzania and Stand-
included Bank of America, Commerz Bank (later on sold to ard Chartered Bank Tanzania
Dresdner Bank), Bank Bruxelles Lambert, and Banque Nation- • Julius Mcharo, Head of Treasury
al de Paris. In 1980, Bank of America acquired all the shares • Ernest Mtokoma, Head of Finance
of the other SFOM partners, and CBA became a subsidiary of • Frank Nyabundege, Head of Corporate & Institutional
Bank of America, with 16% of shares held by Kenyan investors. Banking
Between 1980 and 1984, Bank of America reorganized • Gilbert Bonaventure, Head of Risk Management
CBA, developing and installing its global
systems and processes. Bank of America
eventually sold the remainder of its shares
- and CBA is now wholly Kenyan-owned.
CBA (Tanzania), formerly United Bank of
Africa, was incorporated in Tanzania in
2002.
Shareholders
CBA (T) is a subsidiary of CBA (Kenya),
which owns 100% of the bank.
Board of Directors
• Ndewirwa N. Kitomari, Chairperson.
Mr. Kitomari was the Deputy Governor
of the Bank of Tanzania in the 1990s, af-
ter which he served as a senior official
for several years in the African Develop-
ment Bank
• Peter Kisumo. Mr. Kisumo is a veteran

• Collins Rutenge, Head of Operations and Service Delivery spurts noticeable in the last quarters of 2007 and 2008.
• Crispin Kweka, Head of Internal Audit CBA (T)’s deposits have grown more than 12-fold from
• Zainab Mushi, Head of Human Resource TZS 10.4 Billion in Q1 2006 to TZS 130.6 billion by Q4 2010.
• Nurdin Semnangwa, Head of Projects Loans have increased more than tenfold from TZS 7.3 Billion
• Aron Luhanga, Head of Marketing respectively in 2006 to TZS 80 billion in Q4 2010. At the same
• Benedict Hamisi, Head of Credit Risk time, the bank has significantly reduced the rate of non-per-
• Hyasinta Mwimanzi, Head of Personal Banking forming loans from over 15% in Q4 2006 to 8% in Q4 2010.
CBA (T) has been reducing a significant level of accu-
Selected Financial Trends mulated losses, which accounted for almost 40% of share-
CBA (T)’s interest and non-interest income have shown holders funds in 2006 and 2007. The bank’s capital structure
steady growth, with some volatility evident in non-interest was shored up entirely by a TZS 8.2 billion capital injection
income from 2008. The bank made losses in 2006, but since by shareholders in Q1 and Q3 2009. Profitability in the first
then profits have been positive, with significant growth four quarters of 2010 have strengthened the capital base.
Asset Ranking
02
Azania
CRDB Bank
Bancorp
Plc
Founded 1996
Chairperson Mr. Martin J. Mmari
Chief Executive Dr. Charles Kimei, Managing Director
54.40
No. of Branches 61
No. of ATMs 131
Web Address www.crdbbank.com TZS bn
C
RDB Bank Plc is a private commercial bank • Bede Lyimo
in Tanzania. It was established in 1996. It has • Boniface Muhegi
been profitable every year since its founda- • Ally Laay
tion. CRDB offers a range of corporate, retail, • Joyce Nyanza
business, treasury, premier, wholesale and mi- • Juma Abdulrahman
crofinance services through a network of 60 branches, over
100 ATMs, 17 depository ATMs, five mobile branches, almost Senior Management
700 post terminals, 400 microfinance partners, as well inter- • Charles Kimei, Managing Director. Dr. Kimei is an econ-
net and mobile phone banking. It was listed on the Dar es Sa- omist. He obtained his doctorate in Money and Finance
laam Stock Exchange on June 17, 2009. from Uppsala University in Sweden
• Jens Ole Pedersen, Deputy Managing Director
Shareholders • Tully Mwambapa, Director of Marketing and Research
• DANIDA Investment Fund –21.5% • Anderson Mlabwa, Director of Credit
• Parastatal Pension Fund –10.0% • J. Rugambo, Director of Secretariat (Company Secretary)
• IPP Limited –5.4% • Izengo Soka, Director of Internal Audit
• Public Services Pension Fund (PSPF) – 3.3% • Mr. Soka is a Certified Public Accountant (CPA-T)
• LAPF – 1.7%
• Western Tobacco Coop. Union – 1.7%
• Hans Macha – 1.3%
• CMG Investment Limited – 1.2%
• SHIRECU – 1.2%
• EPACK Investment Fund – 1.1%
• Lindi Development Fund – 1.0%
• Kagera Cooperative Union (1990) Ltd. – 1.0%
• Others (less than 1%) – 49.7%
Board of Directors
• Martin Mmari, Chairperson. Mr. Mmari
is a Director of Finance at the Parastatal
Pension Fund, one of the bank’s major
shareholders. He is a Certified Public Ac-
countant (CPA-T) and holds an MBA in
International Banking and Finance
• Dr. Sylvia Temu
• Joyce Luhanga
• Lydia Joachim
• Joseph Machange
• Kai Kristoffersen

Selected Financial Indicators 5.4% of total advances, but by Q4 2010 that rate had increased
CRDB’s quarterly net interest income has grown from TZS 12 to 11% of the total lending book.
billion to over TZS 35 billion between Q1 2006 and Q4 2010. The structure of CRDB’s capital is founded on the bank’s
Non-interest income has grown from TZS 5.5 billion to over strong historical and contemporary profitability. Paid-up share
TZS 18 billion during the same time. The bank’s net interest capital accounts for about 20% of total shareholder funds, while
income levels are sufficient to cover all of CRDB’s expenses the balance is made up significant quarterly profits which are
and income tax obligations - the volume of the bank’s quar- then converted to retained earnings in the first quarter of the
terly non-interest income and its net profits were an almost following year. CRDB’s paid-up share capital doubled from TZS
perfect match between Q1 2006 and Q1 2009. 12.3 billion to TZS 24.73 billion in Q3 2007 by converting TZS
CRDB’s deposits expanded threefold from TZS 652 bil- 12.366 billion of retained earnings into share capital. It was in-
lion to over TZS 2.0 trillion between Q1 2006 and Q4 2010. creased again to TZS 53.75 billion in Q1 2009, this time by con-
The bank’s lending has grown even faster than the deposits, verting TZS 29 billion of the profit from 2008 into paid-up share
increasing by more than 4½ times from TZS 241 billion to capital. Most of the TZS 23 billion raised in the 2009 public of-
over TZS 1.1 trillion. With the growth of lending, non-per- fering seems to have bought fixed assets. CRDB has paid more
forming loans have also trended upwards, despite some peri- than TZS 13.5 billion in cash dividends since 2006, TZS 10.5 bil-
odic improvements. In Q1 2006, bad loans accounted for only lion of which was paid since Q3 2009.
Asset Ranking
Dar es Salaam Community Bank PLC

21
Dar es Salaam
Community
Azania Bancorp
Bank
Founded October 2001

Chairperson Ambassador Paul Milyango Rupia
Chief Executive Mr. Edmund P. Mkwawa, Managing Director
Auditors Ernst & Young
8.09
No. of Branches 4
Web Address www.dcb.co.tz TZS bn
T
he Dar es Salaam Community Bank Limited gree in Public Administration from New York University.
(DCB) is a private microfinance bank dedicat- • Professor Lucian Ambrose Msambichaka
ed to uplifting the living standards of low-in- • Samuel John Ezekiel
come residents in Dar es Salaam. The bank was • Bakari Kingobi
initially granted a banking license on October • Zedekia Ntulu
16, 2001, to carry out the banking business as a regional fi- • Makinya Migetto
nancial institution. This license was upgraded to a full bank- • Sophia Mjasiri Emesu
ing license on June 12, 2003. It opened its doors to the public • Mr. Richard T. Mfugale
on April 15, 2002. DCB started with one branch at the head • Leonard Kitoka Chacha
office at Mnazi Mmoja in Ilala, but has since expanded with
three more branches at Tabata within Ilala District, at Mago- Senior Management
meni in Kinondoni, and at Temeke District. • Edmund P. Mkwawa, Managing Director. Mr. Mkwawa
In June 2008, DCB completed an Initial Public Offer- has been DCB’s Managing Director since its establish-
ing. TZS 5.2 billion was raised, representing an oversubscrip- ment in 2000. He holds a Masters Degree in Community
tion of 247% over the targeted subscription of TZS 1.5 billion. Economic Development from Southern New Hampshire
As a result and in consideration of the bank’s capital needs, University (USA), a Certificate in Banking from the Insti-
the Board of Directors, after consultation with major share- tute of Bankers, London (UK) and a Certificate in Micro-
holders, accepted the full amount collected in the Initial Pub- finance from the Economic Institute of Colorado in the
lic Offer. DCB Limited was listed on the Dar
es Salaam Stock Exchange on September 16,
2008.
Shareholders
• Dar es Salaam City Council – 8.9%
• Kinondoni Municipal Council – 8.1%
• Ilala Municipal Council – 8.3%
• Temeke Municipal Council – 7.4%
• Unit Trust of Tanzania – 9.0%
• Private individuals and companies –
58.3%
Board of Directors
• Ambassador Paul Milyango Rupia, Chair-
person. Ambassador Rupia is a retired
Civil Servant. He has held different posi-
tions in the Government of Tanzania, in-
cluding the Chief Secretary in the Office
of the President. He holds a Masters De-

USA. He is a member of the Tanzania Institute of Bankers. DCB’s deposits have grown fourfold from TZS 15 bil-
• Consolata Lalika, Chief Finance Manager lion in Q1 2006 to TZS 63 billion by Q4 2010. Lending vol-
• Gray M. Ndandika, Chief Operations Manager umes matched deposit growth by also expanding fourfold
• Nathan D. L. Nyabenda, Finance Manager from TZS 13 billion to TZS 56 billion during the same period.
• Peter Tarimo, Risk Manager As loans grew, the rate of non-performing also increased.
• Caroline M. Mduma, Corporation Secretary The rate increased to its highest point of 6% in Q4 of 2009
from its lowest of 1.7% in Q2 of 2006.
Selected Financial Trends DCB’s capital structure has been mostly founded on
Apart from a small loss in Q3 2006, DCB’s net income has paid-up share capital. Even between Q3 2006 and Q2 2007,
been positive and growing steadily to reach a peak of TZS when its contribution dropped sharply from almost 80% to
951 million in Q4 2010. Profits have been driven by robust under 40%, this was due to TZS 1.4 billion being injected as
growth in quarterly net interest income, which increased an advance towards share capital. Added to this was the TZS
from TZS 406 million in Q1 2006 to over TZS 2.6 billion by 5.2 billion raised in the IPO in 2008 to bring DCB’s share cap-
Q4 2010. Quarterly non-interest income was flat at around ital to its current level of TZS 8.1 billion. The bank’s quarterly
TZS 150 million, before increasing significantly in 2009 and profitability and growing retained earnings continue to ex-
2010 to an average of TZS 410 million. pand their share of the capital structure.
Asset Ranking
10
Diamond Trust
Azania
Bank Tanzania
Bancorp
Founded 1990 (as a non-banking financial institution)

and 1997 (as a commercial bank)
Chairperson Mr. Abdul Samji
Chief Executive Mr. Viju Cherian (CEO & Country Manager)
Auditors RSM Ashvir
1.55
No. of Branches 12
No. of ATMs 12
Web Address www.dtbafrica.com TZS bn
T
he bank was incorporated in 1946 as the Dia- rector of the Kenya Tourist Board
mond Jubilee Investment Trust (DJIT) to com- • Nasim Devji
memorate the Diamond Jubilee of the ascen- • Hassan Dhalla
sion to the Imamat by the late Aga Khan III. Its • Mehboob Champsi
head office was in Dar es Salaam (Tanzania) • Fayaz Bhojani
with branches in Mombasa, Kampala, Nairobi and Kisumu.
DJIT’s shares were subscribed by the Ismaili Community Senior Management
as well as the Aga Khan. It operated as a community-based • Viju Cherian, Chief Executive Office & Country Manager.
finance house, canvassing savings and extending credit to Mr. Cherian joined DTB Tanzania in September 2008. Pri-
members of the Ismaili community. In 1965, DJIT was split or to joining DTBT, he was Managing Director of a bank in
into three companies, DJIT Tanzania, DJIT Uganda and Kenya and treasurer of a commercial organization in New
DJIT Kenya, with offices in Dar es Salaam, Kampala and York. He held management positions with one of the larger
Nairobi respectively. banks in India for almost three decades. Mr. Cherian holds
In 1990, DJIT changed its name to Diamond Trust a Bachelor of Laws Degree (LL.B) and a Bachelor of Arts
Bank of Tanzania (DTT), transforming from a communi- (Economics) degree from the University of Bangalore. He
ty based finance house to a non-bank financial institution was also trained in commercial banking at Bank of New
(NBFI), serving the wider Tanzanian public. In 1997, it was York and is a Certified Associate of the Indian Institute of
licensed as a full commercial bank and changed its name to Bankers (CAIIB)
Diamond Trust Bank Tanzania Limited. • Rita Akena, Head of Legal
Shareholders
• Diamond Trust Bank Kenya Limited – 55%
• Agakhan Fund for Economic Develop-
ment (AKFED) – 22.3%
• Others – 23.3%
Board of Directors
• Mr. Abdul Samji, Chairperson. Mr. Samji
is a Rotarian and a Certified Public Ac-
countant and Management Consultant
by profession, and a former Managing
Partner of PKF Kenya, a firm of Certified
Public Accountants. He was appointed to
the DTB Kenya Board in 1997 and DTB
Tanzania in 2010. He is a B.Com (Hons.)
graduate, Fellow of the Association of
Chartered Certified Accountants, and a
member of the Institute of Certified Pub-
lic Accountants of Kenya. He is also a di-

• Rajan Kollatt, Head of Risk slightly to TZS 1.2 billion in Q4 2010 as a result of a drop in non-
• Muthusamy Venkatramani, Head of Treasury & Interna- interest income between the third and fourth quarters of 2010.
tional Banking DTB Tanzania’s deposit base has expanded almost
• Joseph Mabusi, Head of Finance & Administration five-fold from TZS 47.7 billion to TZS 221 billion by Q4 2010.
• Robert Masala, Head of Human Resources The bank’s loan book has followed the same path, also grow-
• Stella Masha, Head of ICT ing five-fold from TZS 32.6 billion to TZS 148 billion. As lend-
• Thomas Otieno, Head of Compliance ing has grown, the ratio of non-perfoming loans has been
• Pramodh Menon, Head of Retail Banking managed downwards from 3.3% in 2006 to 0.6% in Q4 2010.
• Sosthenes Biseko, Head of Internal Audit DTB Tanzania’s capital structure is dominated by a
large volume of retained earnings and quarterly profits. It is
Selected Financial Trends also noteworthy in that paid-up share capital has remained at
DTB Tanzania’s net interest and non-interest income have TZS 1.551 billion during the entire period, although the share
grown steadily since 2006, with some acceleration evident premium provided since Q2 2007 boosted capital to between
during most of 2010. Quarterly profits have also been positive TZS 6.3 billion and TZS 7.0 billion. DTB Tanzania paid cash
throughout the period. In 2010 profits grew from TZS 934 mil- dividends six times between Q4 2006 and Q4 2010, worth a
lion in Q1 to over TZS 1.5 billion by Q3 2010, before dropping total of TZS 1.1 billion.
Asset Ranking
31
Azania Bancorp
Ecobank Tanzania
Founded Incorporated 5 February 2009, operations

started in January 2010
Chairperson Mrs. Rukia D. Shamte
Chief Executive Mr. James Cantamantu-Koomson, Chief
Executive Officer
No. of Employees 52
Share Capital as of 31st December 2010
No. of Branches 2
No. of ATMs
Web Address
None
www.ecobank.com
TZS 12.82 bn
E
cobank Tanzania Limited • Isaack Chahe, Financial Controller Ecobank is targeting
opened its doors in Janu- • Baraka Thomas, Head of Internal Audit business clients with
ary 2010. It is a subsidiary • Ms. Doxa Mbapila, Head of Legal its expertise in regional
of Ecobank Transnational trade, cards and payment
Incorporated (ETI), a pub- Selected Financial Trends products in Tanzania and
lic limited liability bank holding company. As a new entrant in Tanzania’s banking in- in the region
Headquartered in Lome, Togo ETI has op- dustry, Ecobank (T)’s net income for the
erations in 29 African countries including first four quarters of 2010 were negative as
all five countries of the East African Com- operating expenses exceeded income. While
munity. quarterly non-interest income grew robust-
In Tanzania, the bank is targeting ly from TZS 90 million to TZS 930 million
business clients with its expertise in re- during the first three quarters, it dropped
gional trade, cards and payment products in to TZS 166 million in the last quarter of the
Tanzania and in the region. It offers a wide year. A 73% increase in the bank’s non-inter-
range of retail and commercial banking est expenses in Q4 2010 contributed to its
products, including foreign exchange and recording a quarterly loss of TZS 4.1 billion.
capital markets. Ecobank (T) more than tripled its de-
posit base from TZS 5.2 billion in Q1 2010 to
Shareholders
• Ecobank Transnational Incorporated
(ETI) – 19,999,999 shares
• Robert Kwami – 1 Share
ETI’s largest shareholder is ECOWAS Fund

for Cooperation, Compensation and Devel-
opment (ECOWAS Fund), which is the De-
velopment Finance arm of ECOWAS.
Board of Directors
• Mrs. Rukia D. Shamte, Chairperson
• Mrs. Mary T. Munisi
• Mr. Albert K. Essien
• Mr. Robert T. Kwami, Executive Director
• Mr. Peter Machunde
Senior Management
• James Cantamantu-Koomson, Chief Ex-
ecutive Officer

TZS 16.6 billion by Q4 2010. The bank’s loan book expanded Ecobank (T)’s paid-up share capital accounts for the
33-fold from TZS 208 million to about TZS 6.9 billion. No lion’s share of the bank’s capital. The early quarterly losses
non-performing loans have been reported. have eroded the share capital, prompting an injection of TZS
2.975 billion in capital in Q3 2010.
Asset Ranking
37
Efatha Bank
Azania
Limited
Bancorp
Founded August 12, 2009

Chairperson Mrs. Thabitha Ijumba Siwale
Chief Executive Mr. Gothalm C.K Mbele, Managing Director
Auditors Mhasibu Consultants
1.45
No. of Branches 1
Web Address www.efathabnk.co.tz TZS bn
E
fatha Bank Limited was of- Home Economics from the University of Efatha Bank aims to
ficially opened on August 17, Nairobi empower Tanzanians
2009. It has been licensed to • Julian Machange – Vice Chairperson. Mr. by offering customized
operate as a community bank Machange is a zoologist and currently financial solutions to small
in Dar es Salaam, but plans to lectures at the College of African Wildlife and medium enterprises
expand across Tanzania within five years. Management, Mweka. that have demonstrated
Efatha Bank aims to empower Tanzanians • Finnie Amen Urasa strong growth potential
by offering customized financial solutions • Martha Mulumba
to small and medium enterprises that have • Beatha Obed Swai
demonstrated strong growth potential. • Devangwa Kivaria Mmari
• Nicholaus Obednego
Shareholders
• Efatha Ministry – 16.4% Senior Management
• Efatha Foundation Ltd – 6.7% • Gothalm C.K. Mbele, Managing Director.
• Individual shareholders (29) – 76.9% Mr. Mbele is a former Director of Finance
with Azania Bank Limited for nine years.
Efatha Ministry is an independent He also worked with the Bank of Tanza-
spiritual, interdenominational NGO found- nia as a bank examiner for six years. He
ed by Apostle and Prophet Josephat Mwin-
gira in 1995. The Ministry has centers in all
the regions of Tanzania. Efatha Foundation
Limited is the economic wing of the Efatha
Ministry. It is a limited liability company
incorporated under the Companies Act. Its
shareholders are Efatha Ministry and more
than 1,800 individual church members.
Board of Directors
• Thabitha Ijumba Siwale, Chairperson.
Mrs. Siwale is a former Cabinet Minister
and Member of Parliament. She is CEO of
Women Advancement Trust (WAT), an
NGO which promotes effective participa-
tion of low-income women in economic
development. She is also a board mem-
ber of the National Investment Company
(NICO) and Chairperson of the Ardhi
University Council. She is a graduate of

is a Certified Public Accountant (CPA) and a professional levels have yet to cover the bank’s expenses. The result has
banker (holding an Associateship Banking Diploma from been five quarters of steadily declining losses.
the Tanzania Institute of Bankers). He also holds an MBA Efatha’s deposits have increased five-fold from TZS
from the University of Dar Es Salaam 1.15 billion to TZS 5.8 billion in five quarters. Its lend-
• Justine S. Makero, Director of Finance and Administration ing has grown twenty three times, from TZS 104 mil-
• Mary M. Msimbira, Director of Operations lion to TZS 2.4 billion. Non-performing loans, which had
• Chemo Mutani, Internal Auditor not been reported in the first four quarters of operations,
stood at 7% in Q4 2010.
Selected Financial Trends Paid-up share capital accounts for the majority of
Since it started operations, Efatha’s net interest and non- Ephata’s capital structure. The erosion of this capital through
interest income levels have increased from TZS 24 million early losses has begun to be addressed by shareholder sup-
in Q4 2009 to TZS 154 million by Q4 2010. But these income port worth TZS 209 million in Q3 2010.
Asset Ranking
06
Azania
EximBancorp
Bank
Founded August 1997

Chairperson Mr. Yogesh Manek
Chief Executive Mr Dinesh Arora, General Manager
12.90
No. of Branches 21
No. of ATMs 45
Web Address www.eximbank-tz.com TZS bn
E
xim Bank (Tanzania) Lim- Senior Management Exim Bank also offers
ited is a locally established, • Dinesh Arora, General Manager. Mr. Arora international credit
privately owned, commercial joined Exim in December 2007 after work- card services through
bank. The bank started opera- ing with India’s leading public sector banks MasterCard and is an
tions in August 1997 and has for 26 years. He holds a B Com. degree from agent of the international
enjoyed steady growth in profits, assets and Delhi University, a Post-Graduate Diploma money transfer service,
deposits. in Financial Advising and has been award- Moneygram. It owns a
It offers a range of deposit, credit and ed with CISA & CIA certifications. subsidiary in Comoros and
financial services to clients including busi- • Ganesh Kumar Iyer Sankara, Assistant plans to establish more in
nesses, parastatals, financial institutions, General Manager Zambia and Djibouti
public sector companies, NGOs, govern- • Sreekumar Vamadevan, Assistant Gener-
ment departments, SACCOS and others. al Manager, North Region (Mt Meru)
Exim Bank also offers international credit • Neralla Rao, Assistant General Manager,
card services through MasterCard and is an Dar es Salaam Region (Exim Tower)
agent of the international money transfer • Eugen Massawe, Senior Operations Manager
service, Moneygram. It owns a subsidiary • Jacquline Kweka, Senior Branch Manag-
in Comoros and plans to establish more in er, Clock Tower
Zambia and Djibouti. • Rose Kanijo, Sr. Branch Manager, Hill Park
• Bimal Gondalia, Sr. Branch Manager, Arusha
Shareholders
The bank is owned by private individuals
and corporate entities. Key shareholders
are Yogesh Manek, Hanif Jaffer and Shaf-
fin Jamal, who own 20% each. Other share-
holders have a 40% stake in the Exim Bank.
Board of Directors
• Yogesh Manek. Mr. Manek is the founder
Chairperson of Mac Group Limited and
Alliance Insurance. He is also the Chair-
person of Kinondoni Community Fund
and Trauma Centre Limited.
• Hanif Jaffer
• Shaffin Jamal
• Pascal L. Kamuzora.
• Ambassador Juma Mwapachu
• Thom Wescott

Loans, deposits (TZS million) and non-performing loans (%)
Selected Financial Trends 329 billion. The rate of non-performing loans has remained
Exim Bank’s quarterly net interest income has grown from TZS relatively, averaging around 4.3% between Q1 2008 and Q4
3.1 billion to over TZS 10 billion since Q1 2006. Non-interest in- 2010, after an increase from the 3.5% ratio that was recorded
come increased from TZS 1.2 billion to just under TZS 6 billion in Q4 2007.
during the same period. There was a major spike in non-interest A large volume of retained earnings and strong quar-
income in Q4 2009 of TZS 7.6 billion, which exceeded that quarterly profits are making up a growing share of Exim Bank’s
ters interest income of TZS 5.7 billion. Exim Bank’s quarterly shareholders funds. A total of TZS 7.55 billion in retained
profit performance has also been strong, trending around the earnings and quarterly profits in Q1 2006 represented about
TZS 2.3 billion level between Q1 2006 and Q4 2008. In 2009 and 55% of shareholders funds. By Q4 2010, they had increased
2010, net profits have averaged TZS 3.4 billion per quarter (ex- to TZS 52.4 billion, representing almost 70% of shareholders
cluding the major income spike in Q4 2009) funds. The paid-up share capital has remained at TZS 12.9
Exim Bank’s deposits have grown 2.7 times from TZS billion but its contibution to the bank’s capital declined from
195 billion to TZS 530 billion. Lending volumes more than 60% in Q2 2006 to less than 20% by Q4 2010. A total of TZS
tripled during the same period from TZS 96 billion to TZS 7.6 billion has been paid out in cash dividends since 2006.
Asset Ranking
01
Azania
FBMEBancorp
Bank
Founded 1982 Globally; 2003 in Tanzania

Chairperson Ayoub Farid Michel Saab
Chief Executive John N.B. Lister, General Manager
Auditors Tanna Sreekumar & Company
46.00
No. of Branches 4 in Tanzania
No. of ATMs 5
Web Address www.fbme.com TZS bn
F
ederal Bank of Lebanon SAL, Senior Management The bank offers a wide
former parent company of • John N. B. Lister, General Manager range of deposit and credit
FBME Bank Limited was es- • Nassor Rajab Dachi, Head of Operations services to its personal
tablished in Lebanon in 1953. • Abron R.N Mahenge, Head of Finance and corporate clients,
As a result of political insta- • Albert Ngusaru, Head of Treasury FBME debit and prepaid
bility in Lebanon, FBME was established • Lucie Qorro, Head of Human Resources card services, money
in Cyprus in 1982 as a subsidiary of Federal • Marwa Moherai, Head of Credit transfer and an online
Bank of Lebanon SAL. In 1986, the bank banking service called
changed its country of incorporation to the Selected Financial Trends FBME Direct
Cayman Islands. The Cyprus operations FBME’s quarterly net interest income has
(offshore) became a branch of the Cayman grown from TZS 4.6 billion to TZS 19 bil-
Islands entity. In 2008, the bank ended its lion, while non-interest income expanded
banking presence in the Cayman Islands from TZS 4.3 billion to TZS 18 billion by Q4
and established itself as a legal entity in 2010. The bank’s net profits have tracked
Tanzania. As a result of this move, the Cy- this trend, except in the last quarters of
prus operations became a branch of FBME 2007 and 2009 when losses were reported.
Tanzania. The bank has a wholly owned In 2007, the loss was due to a TZS 8.59 bil-
subsidiary FBME Card Services based in lion provision for bad debts and a TZS 1.8
Cyprus.
The bank offers a wide range of de-
posit and credit services to its personal and
corporate clients, FBME debit and prepaid
card services, money transfer and an online
banking service called FBME Direct.
Shareholders
The bank is privately owned. Details of its
shareholders were not immediately available.
Board of Directors
• Ayoub Farid Michel Saab, Chairman. Mr.
Saab is also the Chairman of the FBME
Group
• Gunnar Ljungdahl
• Dominic G.S. Dreyfus
• Alemu T. Abbera
• Michael N. Rowihab

billion income tax provision. In 2009, the loss was caused by Q3 2006 to 27% in Q2 2007. It has since declined but remains
a large TZS 13.8 billion bad debt provision, and another TZS within the 15-22% range.
1.3 billion income tax provision. FBME’s shareholders funds are increasingly domi-
FBME’s deposits have expanded almost three times nated by the bank’s large volume of quarterly profits and
from just under TZS 900 billion in Q1 2006 to TZS 2.7 trillion retained earnings. The bank’s paid-up share capital has re-
by Q4 2010. Lending has increased almost two times, from mained at TZS 46 billion throughout the period, while re-
TZS 232 billion to TZS 443 billion in the same period. The tained earnings have grown from TZS 8.3 billion to over TZS
rate of non-performing loans rose dramatically from 3% in 78 billion. FBME has not paid any cash dividends.
Asset Ranking
22
Habib African
Azania Bancorp
Bank
Founded 1998 (in Tanzania)

Chairperson Mr. Habib Mohamed D. Habib
Chief Executive Mr. S.S. Hassan Rizvi, Chief Executive Officer
2.60
No. of Branches 2
No. of ATMs 0
Web Address www.habibsons.co.uk TZS bn
H
abib Bank Limited is a where he is Chairperson. He is also the Habib Bank opened its
family-owned bank which Chairperson of Habib Overseas Bank in doors in Tanzania in
started as a merchant bank South Africa and Habib African Bank in 1998. Its main clients are
in Pakistan in 1941. It grew Tanzania corporate and private
to 875 branches in Pakistan • Zain Habib, Vice Chairperson. The sec- businesses. Based in
and 44 globally (including 20 in the United ond son of H.M.D. Habib, Mr. Zain Ha- Dar es Salaam, the bank
Kingdom) by the time bank nationaliza- bib holds a business degree from Bentley offers various banking and
tion took place in Pakistan in 1974. It rees- College, USA. He started his banking financial services focusing
tablished itself in Switzerland, the UK and career with Union Bank of Switzerland, on businesses involved in
Pakistan in the 1980s. Habib Bank opened Zurich in 1990 and joined Habibsons international banking
its doors in Tanzania in 1998. Its main cli- Bank in 1993
ents are corporate and private businesses. • Asghar D. Habib
Based in Dar es Salaam, the bank offers • Asger N. Bharwani, Director
various banking and financial services fo-
cusing on businesses involved in interna- Senior Management
tional banking. • S.S Hasan Rizvi, Managing Director. Mr.
Rizvi, a Kenyan, joined Habib African
Shareholders Bank in June 2008 and has over 40 years
• Mr. Habib Mohamed D. Habib – 20%
• Mr. Wolfgang E. Seegar – 20%
• Mr. Bruno Fellinger – 20%
• Mr. V.A. Bukhari – 20%
• Mr. S.M. Hayder – 20%
Board of Directors
• Habib Mohamed D. Habib, Chairperson.
Mr. Habib (H.M.D.) is the grandson of
Habib Esmail, founder of the Habib fam-
ily. In 1954, Mr. Habib joined Habib Bank
Limited in Karachi, Pakistan, and later
held a position there as Joint President.
After nationalisation, he moved to Swit-
zerland in 1975 where he acquired the po-
sition of General Manager and Joint Pres-
ident at Habib Bank AG Zurich. In 1984,
Mr. Habib moved to London and founded
Habibsons Trust and Finance Limited,
now known as Habibsons Bank Limited,

of experience in banking, holding key positions in local from about TZS 30 billion in 2006 to almost TZS 90 billion
and international banks in 2010, with acceleration in deposit growth evident since Q4
• Mukhtar Sibtain, Chief Manager 2009. Lending has also increased by almost the same magni-
• Sajjad H. Baluch, Branch Manager tude as deposit growth, rising from TZS 11.5 billion to TZS
• George E. Msimbazi, Finance Manager 32.8 billion. The rate of non-performing loans dropped to al-
• Hassan Twaha Ally, Internal Auditor most 0% in Q3 2007 from 1.3% in Q1 2006. It increased sharp-
ly to 5.7% in Q1 2009, declined for the following four quarters
Selected Financial Trends before trending back upwards to reach 5.2% in Q3 2010, be-
Habib African Bank’s quarterly net interest income has fore dropping again to 3.4% in Q4 2010.
grown steadily since Q1 2006 from TZS 445 million to peak Habib African Bank’s shareholders funds are made up
at TZS 803 million in Q2 2010. However, non-interest income of retained earnings and quarterly profits as a result of which
seems to be driving the bank’s profit performance, particu- the contribution of paid-up share capital is declining. Share
larly since Q3 2008, as both trends follow an almost identical capital was increased by TZS 975 million to TZS 2.6 billion in
trajectory. Q4 2006, by converting a portion of retained earnings. Share-
Habib African Bank’s deposits expanded three-fold holders enjoyed a cash dividend of TZS 1.47 billion in Q4 2009.
Asset Ranking
26
International
Commercial
Azania Bancorp
Bank
Founded 1997 (in Tanzania) as International Bank of

Malaysia
Chairperson Ms. Josephine Premla Sivaretnam
Chief Executive Mr. L.K. Ganapathiraman, Chief Executive Officer
11.79
No. of Branches 6
No. of ATMs 6
Web Address www.icbank-tz.com TZS bn
I
nternational Bank of Malaysia (T) • Charles Rwechungura The bank’s largest
Limited changed its name to Inter- • B.S. Sreekumar shareholder (57.68%) is
national Commercial Bank Limited • Sashi Nair, Director the ICB Financial Group
in 2004. By December 31, 2010 ICB • Hashimah Ismail, Director Holdings AG, a holding
had 6 branches, all located in Dar es company for several banks
Salaam. The bank offers deposit, credit and Senior Management operating in Africa, Europe
international banking services, targeting in- • L.K. Ganapathiraman, Chief Executive and Asia
ternational business people and housing fi- Officer
nancing for urban residents. • Mr. K. Srinivasan, General Manager
• Mr. Ajith G., Senior Manager (Risk)
Key Shareholder • Christine Mboya, Internal Audit Man-
The bank’s largest shareholder (57.68%) is ager. Ms. Mboya is a Certified Public Ac-
the ICB Financial Group Holdings AG, a countant (CPA-T)
holding company for several banks operat- • Mr. William Makundi, Head of Credit
ing in Africa, Europe and Asia. While the • Mr. Goodchance Ngowi, Acting Finance
group is incorporated in Switzerland, its Manager
management arm, ICB Global Management • Mr. Pritesh Bakhrenia, Head of IT.
that is located in Kuala Lumpur, Malaysia
provides support services to the ICB Bank-
ing Group. Currently, the group operates
banks in 14 countries. ICB Financial Group
Holdings AG was listed on the AIM market
of the London Stock Exchange in May 2007.
The balance of the shares are held by four
individuals, each with a 10.58% stake.
Board of Directors
• Josephine Premla Sivaretnam, Chair. Ms.
Sivaretnam is a substantial shareholder of
ICB Financial Group Holdings through
Panhelligan Investments Limited. A law-
yer by profession, she was responsible for
the early establishment of the ICB Banks
in Europe and Africa, and for acquisitions
made by the Group. She graduated with
a LLB (Hons) from University of Malaya
and an LLM from the London School of
Economics and Political Science

Selected Financial Trends 14.6 billion in Q1 2009, before retreating to TZS 12.8 billion
ICB’s quarterly net interest income has remained essentially by Q4 2010. The bank’s rate of non-performing loans has
flat, averaging TZS 500 million, for the twenty quarters since been high. It hovered around the 30% level from 2006 to Q3
Q1 2006. It peaked at TZS 792 million in Q4 2007. The bank’s 2009 when it trended upwards to reach 54% in Q1 2010. It fell
quarterly non-interest income was also relatively flat until to 17% by Q4 2010.
some volatility was seen starting in Q4 2007. ICB’s quarterly ICB’s shareholders funds reflect a lengthy loss-making
profits have been positive but modest. Between Q3 2009 and history where retained earnings were negative throughout
Q2 2010, the bank posted significant losses, due primarily the period. In 2007, TZS 4.7 billion was injected as share
to provisions for bad loans. Profit recovery in 2010 has been capital. Other funds boosted capital in 2008, while signifi-
driven by the growth non-interest income. cant share premium injections shored it up in 2009. In Q3
ICB’s deposits expanded more than 3½ times from 2010, TZS 5.554 billion of the share premium was converted
TZS 16.6 billion to TZS 59.75 billion between 2006 and Q4 to paid-up share capital, increasing it to TZS 11.8 billion and
2010. Lending stayed flat during this period, peaking at TZS 80% (from 40%) of the bank’s shareholders funds.
Asset Ranking
19
I&M Bank
Azania
Tanzania
Bancorp
Founded 2001 as CF Union Bank and rebranded to I&M

Bank in 2010
Chairperson Mr. Sarit S. Raja Shah
Chief Executive Mr. Subramanian Gopalan, Managing Director
2.39
No. of Branches 3
No. of ATMs 0
Web Address www.imbank.com/TZ TZS bn
I
nvestment & Mortgage Bank Lim- Board of Directors The bank offers different
ited (T) – I&M Bank was formed • Sarit Shah. Mr. Shah was appointed Chair- depository, credit and
in January 2010 after I&M Bank person of CF Union Bank Ltd on January other financial services. It
(Group/Kenya) acquired a majority 14, 2010. He holds a Masters Degree from targets various clientele
stake in CF Union Bank Ltd. Also City University London. He is currently but most of its clients are
participating in this equity buy-out were an Executive Director of I&M Bank Lim- businesspeople in the two
PROPARCO-a French Development Insti- ited and also serves on the board of several urban centers where it has
tution, Kibo Fund (a private equity fund other companies, including GA Insurance branches
operating out of Mauritius) and Michael Limited & Coastal Bottlers Ltd. He is also
Shirima, a Tanzanian businessman. CF Un- currently serving as Chairperson of Bank
ion Bank had been operating in Tanzania One Ltd in Mauritius
since 2001. It has two branches, one each in • Michael Shirima
Dar es Salaam and Arusha. The bank offers • Thierry Hugnin
different depository, credit and other finan- • Arun Mathur
cial services. It targets various clientele but • Mrisho Sarakikya
most of its clients are businesspeople in the • Pratul Shah
two urban centers where it has branches.
Key Shareholder
I&M Bank is a privately owned bank. Start-
ed in 1974, it evolved from a community fi-
nancial institution to a commercial bank
offering a full range of corporate and retail
banking services. Proparco and DEG, two
leading European development financial
institutions own 22% of the Bank. The bal-
ance is owned by a consortium of Kenyan
investment companies.
I&M Bank is the flagship company of
the I&M Group of Companies an East Afri-
can corporate with a presence in banking,
insurance, manufacturing and real estate.
I&M Bank also owns 50% of Bank One Lim-
ited in Mauritius together with the CIEL
Group, one of the largest business groups in
Mauritius.

Senior Management by the drop in non-interest income.
• Subramanian Gopalan, Managing Director I&M Bank’s deposits expanded five-fold from TZS 20.1
• Poncian Katesigwa, Financial Controller billion to TZS 102 billion, while lending increased more than
• Aimtonga Adolph, Chief Internal Auditor. Ms. Adolph is a 7½ times from TZS 10 billion to TZS 76 billion. The non-per-
Certified Public Accountant (CPA-T) forming loan ratio started at less than 1.8%. As lending grew,
the rate has declined steadily to reach 0.08% by Q3 2010 be-
Selected Financial Trends fore ticking upwards to 1.14% in Q4 2010.
I&M Bank’s quarterly net interest income has grown from I&M Bank’s shareholders funds are dominated by the
TZS 338 million in Q1 2006 to almost TZS 1.8 billion by Q4 contribution of retained earnings and quarterly profitabil-
2010. Non-interest income also grew from TZS 170 million to ity. Paid-up share capital remained at TZS 1.75 billion until
over TZS 1.0 billion in Q3 2010, but retreated to TZS 534 mil- Q3 2010 when it was increased by TZS 645 million to TZS
lion due to a drop in foreign exchange profit. Quarterly net 2.395 billion. An additional TZS 7.48 billion was injected by
profits increased steadily from TZS 181 million to TZS 1.2 bil- new shareholders, as share premium, to boost the bank’s
lion in Q3, but dropped to TZS 588 million in Q4 2010, driven capital base.
Asset Ranking
40
as of December 31st 2010 Kagera Farmers
Co-operative
Azania Bancorp
Bank
Founded 2002
Chairperson Rweyongeza Bagyemu
Chief Executive Sylvester Katemana, General Manager
Auditors W.M. Kilele & Company
0.35
No. of Branches 1
No. of ATMs -
Web Address - TZS bn
K
agera Farmers Cooperative • Agripina Kalabamu, Ag. IT Manager KFCB’s primary goal is to
Bank Limited (KFCB )was provide financial services
incorporated in 2002 by a Selected Financial Trends to the residents of Kagera
group of cooperative socie- KFCB’s quarterly net interest income dis- region, most of who are
ties, cooperative Unions and plays a volatile but generally upward trend. engaged in agriculture,
SACCOS. It is a limited liability company It has grown from TZS 28 million in Q1 livestock keeping and
incorporated in Tanzania under the Coop- 2006 to TZS 142 million by Q4 2010. Quar- fishing
erative Societies Act No. 15 of 1991 and regu- terly non-interest income has also been
lated by the Bank of Tanzania as a regional very volatile and has ranged between TZS
unit bank. 40 million and TZS 50 million until it in-
KFCB’s primary goal is to provide fi- creased sharply to TZS 207 million in Q4
nancial services to the residents of Kagera 2010 due to foreign exchange profits and
region, most of who are engaged in agricul- ‘other’ sources. Quarterly profits have mir-
ture, livestock keeping and fishing. Most of rored revenue volatility. The losses in Q3
the loans are offered to groups and socie- 2007 and Q2 2008 were due to bad loan
ties. However, individuals also constitute provisions and write-offs, while that in Q4
a significant portion of the recipients. The 2009 was due to an increase in expenses.
bank also offers deposit and saving services. KFCB’s deposits have grown 2¼
Shareholders
Shareholders of the bank are primary coop-
erative societies, the Kagera Farmers’ Coop-
erative Union, SACCOS and other institu-
tional investors.
Board of Directors
• Rweyongeza Bagyemu, Chairperson of
the Board
• Andrea Bagayana, Vice Chairperson
• Pancras Mutahyabarwa, Member
• Oswald Mutaitina, Member
Senior Management
• Sylvester Katemana, General Manager
• Emmanuel Mashurano, Chief Accountant
• Elia Maruma, Credit Manager
• Reverian Mukulasi, Loans Follow Up
Manager

times from TZS 1.71 billion to TZS 3.88 billion. Lending has KFCB’s paid-up share capital contributed the most to
doubled during the period from TZS 1.488 billion to TZS 3.01 shareholders funds until 2009. Shareholders injected TZS
billion, and this after peaking at TZS 3.33 billion in Q3 2009. 20 million during the period. Another capital boost of TZS
Non-performing loans stayed below 10%, until Q1 2009 when 60 million in 2008 seems to have been funded by borrowing.
they jumped to 63%. The rate subsequently declined but it The ‘other’ component of shareholders funds has become a
has continued to show an upward trend since Q4 2009. crucial contributor to KFCB’s capital strength.
Asset Ranking
15
KCB Bank
Azania Bancorp
Tanzania
Founded April 1997

Chairperson Dr. Edmund Mndolwa
Chief Executive Mr. Joram Kiarie, Managing Director
24.35
No. of Branches 11
No. of ATMs 11
Web Address www.kcbbankgroup.com/tz/ TZS bn
I
ncorporated in April 1997, KCB he has served as a non-executive Direc- KCB Bank Tanzania
Bank Tanzania Limited offers a tor of NBC Bank and the Chairperson of Limited currently has
wide range of banking products and the Board of Directors of Tanzania Postal 11 branches, namely
tailor-made services for individual Bank Zanzibar, Mwanza, Arusha,
and corporate clients. KCB Bank • Peter Muthoka, KCB Group Chairperson Mlimani City, Samora
Tanzania Limited currently has 11 branches, • Dr. Martin Oduor-Otieno, KCB Group CEO Avenue, Uhuru, Msimbazi,
namely Zanzibar, Mwanza, Arusha, Mlima- • Joshua S. Muiru Buguruni, Moshi,
ni City, Samora Avenue, Uhuru, Msimbazi, • Catherine Kimura Morogoro and Oysterbay
Buguruni, Moshi, Morogoro and Oysterbay. • Philemon Nikubuka Shimwela
Key Shareholder Senior Management

KCB Bank Tanzania Limited is a subsidi- • Joram Kiarie, Managing Director. Mr.
ary of KCB Group, which also includes KCB Kiarie holds an MBA from the University
Bank Kenya Limited, S&L (a Mortgage sub- of Birmingham, a BA from the University
sidiary), KCB Bank Sudan Limited and KCB of Nairobi and a BSc from the University
Bank Rwanda Limited. Kenya Commercial of Manchester Institute of Science and
Bank was formed in 1896, when its prede- Technology. He is an Associate of the
cessor, National Bank of India (NBI) opened Chartered Institute of Bankers
a branch in Mombasa. In January 1958,
NBI merged with Grindlays Bank Limited,
which was acquired by the Government
of Kenya and renamed Kenya Commercial
Bank Limited in 1970.
Board of Directors
• Edmund B. Mndolwa, Chairperson of
the Board. Dr. Mndolwa joined KCB’s
board in April 2010. He holds an MBA
(Banking and Finance) from Mzumbe
University and a PhD in Finance. He is
a professional accountant and a gradu-
ate of the Commonwealth Association of
Corporate Governance. After working for
East African Community and Deloitte, he
joined Coopers and Lybrand (later Price-
waterhouse Coopers) as a partner in 1981,
where he served as senior partner until
his retirement in 2009. Over the years

• Selemani Ponda, Head of Finance TZS 23 billion to TZS 158 billion from Q1 2006 to Q4 2010.
• Dickson Hyera, Head of Internal Audit Lending expanded 5½ times to TZS 94 billion from TZS 17
• Edward Lyimo, Head of Legal billion during the same period. The rate of non-performing
• Christina Manyenye, Head of Marketing & Corporate Affairs loans has been variable. It climbed from 1.93% to 7.42% be-
tween Q1 2006 and Q4 2007, retreated to 3.45% by Q4 2008,
Selected Financial Trends before trending upward to reach 14.07% in Q4 2010.
KCB (T)’s quarterly net interest and non-interest income Paid-up share capital dominates KCB (T)’s sharehold-
grew steadily up until Q3 2008, when their trajectories sepa- er funds structure, contributing about 80% of total capital.
rated and non-interest income became rather volatile. The Share capital was increased seven times during the period,
bank’s profitability has struggled to establish itself. It posted first by TZS 6.295 billion in Q4 2006, and six more times by
losses in 12 out of the 20 quarters, with a particularly chal- a total of TZS 12.052 billion between Q2 2009 and Q4 2010.
lenging year evident in 2009 when it provided about TZS 2.7 KCB (T) has found it difficult to shake of the burden of ac-
billion for non-performing loans. cumulated losses, and the continuing quarterly losses, espe-
KCB’s deposit base expanded almost seven-fold from cially since Q2 2009 are not making matters easier.
Asset Ranking
38
Kilimanjaro
Azania Bancorp
Co-operative Bank
Founded July 10, 1996

Chairperson Mr. E. E. Kimambo
Chief Executive Mrs. Elizabeth Makwabe, General Manager
Auditors TAC Associates
1.08
No. of Branches 1
No. of ATMs 0
Web Address - TZS bn
K
ilimanjaro Cooperative Bank • Verdiana A. Njau KCBL’s main objective
Limited (KCBL) is a regional • Absolom A. Nyange is to provide financial
bank operating from Moshi, • Elizabeth S. Bwire services to clients through
Kilimanjaro region. Origi- • Fanuel M. Monata their savings and credit
nally registered as a coopera- cooperative societies
tive society in 1994, it was authorized by the Senior Management
Bank of Tanzania in the same year to oper- • Elizabeth Makwabe, General Manager.
ate as a regional bank. It started operations Mrs. Makwabe holds a Bachelor of Com-
in July 1996. KCBL’s main objective is to merce Degree from the University of Dar
provide financial services to clients through es Salaam and has over 12 years of experi-
their savings and credit cooperative socie- ence in the banking sector
ties (SACCOS). The bank offers services to • Ekwabi S. Mganga, Chief Accountant
individuals, companies and other types of • Janeth Minja, Chief Internal Auditor
organizations. It also provides domestic • Ombeni Masaidi, Credit Manager
and international money transfer services • Peter Olomi, Information and Communi-
through Western Union. cation Technology Manager
Shareholders
KCBL is owned by registered cooperative
societies in Kilimanjaro region. These in-
clude primary cooperative societies (Rural
Cooperative Societies – RCS), Savings and
Credit Cooperative Societies (SACCOS)
and large cooperative unions, namely the
Kilimanjaro Native Cooperative Society
(KNCU) and Vuasu (Pare) Cooperative Un-
ion. The amount owned by the different
shareholders was not immediately available.
Board of Directors
• Emrode E. Kimambo, Chairperson. Mr.
Kimambo is a Lecturer at the Moshi Uni-
versity College of Cooperative and Busi-
ness Studies (MUCCoBS). He holds a BA
in Economics from the University of Dar
es Salaam and a Master of Science degree
in Agricultural Economics from the Wage-
ningen University in the Netherlands

Selected Financial Trends lion in Q1 2006 to TZS 5.6 billion in Q4 2010, Lending grew
KCBL’s quarterly net interest income rose to a range of be- from TZS 1.7 billion, peaked at TZS 3.2 billion in Q2 2008 and
tween TZS 120 million and TZS 160 million from Q1 2007 to trended downwards since then. The rate of non-performing
Q4 2010. Quarterly non-interest income has trended upwards loans has hit two peaks of 33% in Q3 2008 and Q3 2010.
from an average of TZS 14 million in 2006 to TZS 74 million by KCBL’s quarterly and retained losses are reflected in
2010. The bank’s quarterly net profits have been very volatile. the volatility of the shareholders’ funds. Shareholders have
The large losses in Q2 2007, Q3 2008 and Q2 2009 have been injected TZS 589 million since 2006 and maintained a capi-
due to large provisions for bad debts, and loan write-offs. tal reserves buffer of TZS 450 million since 2008 in order to
KCBL’s deposits expanded 1.6 times from TZS 3.4 bil- shore up the bank’s capital.
Asset Ranking
39
Mbinga
Community
Azania Bancorp
Bank
Founded 30 July 2003

Chairperson Mr. Altemius Millinga
Chief Executive Mr. Optat Shedehwa, General Manager
Auditors Globe Accountancy Services
No. of Branches 1
No. of ATMs
Web Address
0
www.mbingabank.com
TZS 0.32 bn
M
binga Community Bank Selected Financial Trends MCB is a microfinance
(MCB) opened on July MCB’s quarterly net interest and non-in- bank, with typical clients
30, 2003 to fill the void terest income have been modest but vola- being smallholder farmers,
left by the collapse of tile, perhaps reflecting the seasonality of artisans and micro retail
Mbinga Cooperative Un- the agricultural economy on which many businesses
ion (MBICU) in the 1990s. Headquartered of its clients rely. Profit volatility is am-
in Mbinga Township, the bank is licensed plified by the periodic provisions for non-
by the Bank of Tanzania as a regional unit performing loans, and some subsequent
bank. MCB is a microfinance bank, with write-backs.
typical clients being smallholder farmers, MCB increased its deposits by 167%
artisans and micro retail businesses. between 2006 and 2010 from about TZS
1.2 billion to over TZS 3.1 billion. Lending
Shareholders expanded by 125% from TZS 977 million to
The Bank has a wide range of shareholders. TZS 2.2 billion. MCB has reduced the rate
These include area Cooperative Societies, of non-performing loans from a peak of al-
Mbinga area SACCOS, NGOs, companies most 33% in Q1 2007 to 3.6% in Q3 2009, but
and individuals. The amount owned by the it had increased to 11.2% in Q4 2010.
different shareholders was not immediately MCB’s paid-up share capital account-
available.
Board of Directors
• Mr. Altemius Millinga, Chairperson
• Fr. Andrew Ndimbo, Director
• Mr. Donald Kissongo, Director
• Ms. Isabela Komba, Director
• Mr. Shaibu Mnunduma, Director
• Mr. Optat Shedehwa, General Manager
Senior Management
• Mr. Optat Shedehwa, General Manager
• Mr. Edwin Namnauka, Head of Finance
• Mr. Shaibu Mwambungu, Ag. Chief Inter-
nal Auditor

ed for around 70% of shareholders funds in 2006. The bank’s paid-up share capital was injected, as well as an additional
persistent retained losses since 2007, has prompted share- TZS 210 million in regulatory reserves and other resources,
holders to provide significant support. TZS 32 million in new between 2007 and 2010.
Asset Ranking
32
as of December 31st 2010 Mkombozi
Commercial
Azania Bancorp
Bank
Founded August 2009

Chairperson Mr. Masha John Mshomba
Chief Executive Mrs. Edwina Lupembe, Chief Executive Officer
7.89
No. of Branches 1
Web Address www.mkombozibank.com TZS bn
M
kombozi Commercial ant (CPA-T). He is Director of Finance at Bank targets micro and
Bank was licensed by the Public Sector Pension Fund (PSPF) small entrepreneurs,
the Bank of Tanzania in • Method Anatoli Kashonda medium business
July 2009 and started • Rt. Rev. Beatus Kinyaiya entrepreneurs, employed
its operations in August • Rev. Fr. Anthony Makunde individuals, businesses,
2009. Regulated by the Bank of Tanzania • Eve Hawa Sinare institutions, SACCOS and
as a commercial bank, it currently has one • Placidius Luoga other groups for credit
branch, located in Dar es Salaam. Mkom- • Marcellino Kayombo facilities.
bozi Commercial Bank provides credit fa-
cilities, depository services, guarantees, Senior Management
foreign exchange operations, Automated • Edwina Lupembe, Chief Executive Of-
Teller Machines (ATMs) and money trans- ficer. Mrs. Lupembe is a career banker
fers. It targets individuals, companies, part- who worked for the former National Bank
nerships, sole-proprietorships, SACCOS, of Commerce. Prior to joining Mkombozi
trusts, firms, joint arrangements, parishes, Commercial Bank, she was the Chief Ex-
schools, hospitals, small communities, pri- ecutive Officer of Consolidated Holdings
vate and public communities for depository Corporation (CHC)
services. It also targets micro and small en-
trepreneurs, medium business entrepre-
neurs, employed individuals, businesses,
institutions, SACCOS and other groups for
credit facilities.
Shareholders
Mkombozi Commercial Bank was started
with a USD 5.0 million capital base, raised
from investors purchasing shares priced at
TZS 1,000 shillings each. Investors include
Catholic Church dioceses in the country,
parishes, other religious organizations and
individuals. The Tanzania Episcopal Con-
ference and Catholic Dioceses are the ma-
jority shareholders, holding 51% of the ex-
isting shares.
Board of Directors
• Masha John Mshomba, Chairperson. Mr.
Mshomba is a Certified Public Account-

• Dennis Frank Kejo, Finance Manager After five quarters of operation, Mkombozi Commer-
• Ladislaus Ndallanga, Chief Internal Auditor cial Bank has expanded its deposit base from TZS 2.2 billion
• Sylvester Remmy Kasikila, Branch Manager to TZS 16.4 billion. Lending has grown from TZS 380 million
• Baltazar Mbilinyi, Legal Counsel and Company Secretary to TZS 6.6 billion. The bank has yet to report any non-per-
• Yordan Mwitalema, ICT Manager forming loans on its books.
Mkombozi Commercial Bank’s shareholder funds are
Selected Financial Trends dominated by paid-up share capital. As early losses have eat-
Mkombozi Commercial Bank first reported its results in Q4 en into the share capital, further investor support is evident
2009 and is showing modest quarterly net interest and non- in the conversion of additional funds (‘other’) into paid up
interest income growth. It has not yet reported profits, but share capital between the first and second quarters of 2010.
has reduced quarterly losses from TZS 490 million in Q4 Share capital increased by TZS 727 million from TZS 6.01 bil-
2009 to TZS 237 in Q4 2010. The bank earned TZS 159 million to TZS 6.73 billion. Extra funds totaling TZS 1.152 billion
lion in ‘other’ non-interest income to almost break even in Q2 were injected in Q4 2010 to increase the bank’s paid up share
2010. capital from TZS 6.73 billion to TZS 7.889 billion.
Asset Ranking
35
Mufindi
Community
Azania Bancorp
Bank
Founded 1998
Chairperson Mr. Atililo Mohele
Chief Executive Mr. Danny Mpogole, General Manager
Auditors Ashvin Solanki & Company, Iringa
0.37
No. of Branches 1
No. of ATMs 0
Web Address www.mucobatz.com TZS bn
M
ufindi Community Bank • Marcellina Mkini, Director. Mrs. Mkini The bank was started in
(MUCOBA) is a regional is an Agricultural Officer and holds a Di- 1998 and was the first
bank providing micro- ploma in Agricultural Nutrition community bank to be
finance services to low • Golden Sanga, Director. Mr. Sanga is licensed by the Bank of
and medium income a teacher and holds a Certificate in Tanzania
earners in the Mufindi District in Iringa Education
Region and neighbouring rural areas. It was • Israel Ndanshau, Director. Mr. Ndanshau
started in 1998 and was the first community holds an MBA and a B.Sc. in Forestry.
bank in Tanzania licensed by the Bank of • Basil Mkwata, Director. Mr. Mkwata
Tanzania. is a lawyer and an Advocate of the High
The bank offers loans, savings and Court of Tanzania. He holds a Bachelor of
other financial services to entrepreneurs, Laws (LL.B) Degree
farmers and employees in Mufindi. The main • Ernest Usangira, Director. Mr. Usangira
target group is the small and medium enter- is a retired teacher and holds a Bachelor
prise. The bank also targets SACCOS, which of Science Degree in Education
play a major role in delivering credit to the
groups and individuals. MUCOBA aims to
increase the size of its deposits by 200% and
the loan portfolio by 172% by 2013.
Shareholders
MUCOBA started with a share capital of
TZS 50 million, the minimum required to
start a community bank. Founding mem-
bers were the Mufindi Education Trust, In-
cofin Tanzania, MET and Incofin Workers’
SACCOS, Mufindi Teachers’ SACCOS and
Joseph Mungai, a former Member of Parlia-
ment. The share capital has expanded and
additional shareholders include NGOs, pri-
vate firms, Mufindi District Council, SAC-
COS and individuals.
Board of Directors
• Atililo Mohele, Chairperson. Mr. Mohele
holds a Masters in Economics and a BA in
Economics and Statistics from the Uni-
versity of Dar es Salaam

Senior Management ranged between TZS 75 million and TZS 263 million. After
• Danny Mpogole, Chief Executive Officer. Mr. Mpogole that, volatility reduced somewhat, falling within the TZS 150
holds a BA in Economics and a MSc (Finance) from the million to TZS 250 million range until Q3 2010. In Q4 2010,
University of Strathclyde the bank recorded its highest level of net interest income of
• Ben Mahenge, Head of Finance TZS 343 million. Quarterly non-interest income has averaged
• Paul Busasi, Head of Operations about TZS 50 million. Profitability has been positive since
• Deogratius Modaha, Head of Credit 2006, with only a modest loss recorded in Q3 2009.
• Magesa Mafuru, Head of Internal Auditor MUCOBA has doubled its deposit base from TZS 2.4 bil-
lion to TZS 5.0 billion in a steady growth path. Loans expanded
Selected Financial Trends 2 times from TZS 1.8 billion to TZS 3.6 billion during the same
MUCOBA’s quarterly net interest income has been very period. After rising sharpy to peak at almost 18% in Q1 2007, the
volatile. Between Q1 2006 and Q1 2008, net interest income rate of non-performing loans has remained below 10%.
Asset Ranking
36
Mwanga Rural
Community
Azania Bancorp
Bank
Founded 2000
Chairperson I. H. Seushi
Chief Executive Mr. A.Y. Ghuhia, Managing Director
Auditors Tanzania Audit Company
0.48
No. of Branches 1
No. of ATMs 1; Tanpay VISA cards
Web Address www.mwangabank.co.tz TZS bn
O
perating from Mwanga Dis- • A.T. Nguluma The bank’s primary aim
trict in Kilimanjaro region, • Z. Ally is to provide access to
Mwanga Rural Community • J.K. Msemo quality financial services
Bank started operations • T. Mndeme to individuals and groups
as a regional unit finan- • E. Toroka in its area of operation
cial institution in 2000. In 2009, the bank through products such
was granted a regional bank license by the Management as loans targeting
Bank of Tanzania. The bank’s primary aim • A.Y. Ghuhia, Managing Director. Mr. SMEs, salaried workers,
is to provide access to quality financial serv- Ghuhia holds a Master of Science degree employees, Savings
ices to individuals and groups in its area of in Community Development and an Ad- and Credit Cooperative
operation through products such as includ- vanced Diploma in Banking. He has 30 Societies (SACCOS) and
ing loans targeting SMEs, salaried workers, years of experience in banking and previ- farmers
employees, Savings and Credit Cooperative ously worked as Operations Manager for
Societies (SACCOS) and Farmers. The bank KCB Bank in Arusha
attracts deposits through saving, fixed and • S.A. Muhuji, Credit Manager
current accounts and offers Western Union • Hilda F. Hungu, Finance and Administra-
money transfer services. tion Manager
Shareholders
The bank’s shareholders include the Mwan-
ga Pare Community Development Trust
Fund, Mwanga District Council, Institu-
tions and Non-Governmental organiza-
tions like TGT, individuals from villages of
Mwanga District and living in Dar es Sa-
laam, Arusha, Dodoma, Tanga and Moshi.
The amount owned by the different share-
holders was not immediately available.
Board of Directors
• I. H. Seushi, Chairperson. Mr. Seushi
holds a Master of Science in Agricultural
Economics and a Bachelor of Arts in Eco-
nomics degrees. He is a Partner in charge
of Management Consulting at Pricewa-
terhouseCoopers (Tanzania), where he
has been partner for the past 24 years
• R. Mringo, Director

• H.K. Kishanga, ICT Manager but recovered to reach TZS 3.8 billion by Q3 2010. The depos-
• F.I. Maarufu, Internal Auditor its dropped slightly to TZS 3.4 billion in Q4 2010.
Loans grew from TZS 0.95 billion to peak at TZS 4.0
Selected Financial Trends billion in Q3 2009. They have retreated slightly to just under
Mwanga Bank’s quarterly net interest income grew thirteen- TZS 4 billion by Q4 2010. The rate of non-performing loans
fold from TZS 50 million to TZS 619 million between 2006 started at just under 8% in early 2006, fell to 1% by Q2 2008,
and Q4 2010. Non-interest income has remained modest, be- rose steadly to reach 8% again by Q3 2010 but fell sharply to
low TZS 50 million until Q3 2010, when it rose to TZS 61 mil- 0.05% in the last quarter of 2010.
lion. Q4 2010 was a good one for the bank, as the non-interest Mwanga Rural Community Bank’s shareholders
income grew to TZS 197 million. Profitability was also mostly funds are almost evenly split between paid up share capi-
positive until a sizeable loss of TZS 228 million in Q1 2010. tal and a combination of its retained earnings and quarterly
Mwanga Rural Community Bank’s deposits expanded profits. TZS 348 million in paid up share capital has been
from TZS 1.7 billion to peak at TZS 4.5 billion in Q1 2009. The injected since Q1 2006, with TZS 194 million of it coming in
bank experienced a sharp drop to TZS 2.9 billion in Q2 2009 since Q1 2009
Asset Ranking
04
National
Bank
Azania
of Commerce
Bancorp
Founded 1997
Chairperson Dr. Mussa Assad
Chief Executive Mr. Lawrence Mafuru, Managing Director
No. of Employees 1,496 Share Capital as of 31st December 2010
No. of Branches 53
No. of ATMs
Web Address
221
www.nbctz.com
TZS 12.00 bn
N
ational Bank of Commerce Limited was • Mr. Eduardo Laurentino
formed on 1st April 2000 when NBC (1997) • Mr. Frans du Toit
Limited was privatised and sold to ABSA • Mr. John Gochora
Group Ltd. of South Africa. NBC (1997) Ltd. • Mr. Lawrence Mafuru
was born out of the National Bank of Com- • Mr. Daniel J. Brits
merce (NBC) - the largest commercial bank at the time, • Mr. Shogholo Msangi
which was formed after the nationalization of banks and fi- • Mr. Riaan van Jaarsveld
nancial institutions in Tanzania in 1967. During the reform of • Dr. Hussein Kassium
Tanzania’s banking sector in 1991, NBC was split into three
entities, namely NBC Holding Corporation, National Micro- Senior Management
finance Bank (NMB) and NBC (1997) Limited. This was the • Lawrence Mafuru, Managing Director. Mr. Mafuru is a
first step towards the privatization of NBC. NBC Limited tar- Certified Chartered Banker from the Chartered Institute
gets both retail and corporate clients. It offers various depos- of Banking (UK) and a Certified Treasury Practitioner
itory, credit and treasury products and it has one of the larg- (ACI Financial Markets)
est branch networks in the country. • Mr. Maharage Chande, Chief Operations Officer
• Mr. Felix Kibodya, Senior Legal Counsel
Shareholders • Mrs. Clara Rubambe, Company Secretary
The bank’s majority shareholder is ABSA Group of South Af- • Mr. Godfrey Sigalla, Head of Internal Audit
rica, which is one of the largest banks in Af-
rica in terms of asset and capital size. Other
shareholders are the Government of the
United Republic of Tanzania and the Inter-
national Finance Corporation (IFC), the pri-
vate sector arm of the World Bank Group.
Board of Directors
• Dr. Mussa Assad, Chairperson Dr. Assad
is the Head of Department of Account-
ing at the University of Dar es Salaam
Business School, where he is also a Sen-
ior Lecturer. He is also the Chairperson
of the Governing Board of the National
Board of Accountants and Auditors
(NBAA) and a member of the Govern-
ing Council of the Muslim University of
Morogoro
• Ambassador Ami Mpungwe
• Mr. Anthony De La Rue

• Mr. Severin Ndaskoi, Head of Risk billion for bad debts, leading to a loss of over TZS 20 billion.
• Mr. Pius Tibazarwa, Head of Treasury NBC’s deposits have doubled from TZS 552 billion to
• Mr. Leon Leach, Head of Corporate Credit TZS 1.2 trillion during the period. Loans have expanded 2.3
• Mr. Mike Ndiweni, Head of Retail Credit times from TZS 309 billion to TZS 711 billion. The rate of
• Mr. Riaan Van Jaarsveld, Head of Finance non-performing loans has also trended upwards, from 2% in
• Mr. Johan Vermaas, Head of Retail Banking Q1 2006 to 7% in the period between Q4 2009 and Q3 2010.
It rose sharply to 17% in Q4 2010, probably due to a review of
Selected Financial Trends the quality of the bank ‘s loan book.
NBC’s quarterly net interest income has grown steadily from NBC’s shareholders funds are dominated by the bank’s
TZS 12 billion to TZS 26 billion between Q1 2006 and Q4 2010. retained earnings and strong quarterly profits. Paid-up share
Quarterly non-interest income also expanded from TZS 5.8 capital has remained at TZS 12 billion throughout the period,
billion to over TZS 17 billion. NBC’s quarterly profits trended meaning that its portion of shareholders funds has declined
upwards from TZS 6.3 billion to TZS 12.5 billion by Q4 2008. to less than 10% in Q4 2010 from 20% in Q1 2006. NBC has
After that, the smooth trend was disturbed by growing provi- paid out a total of TZS 36.3 billion in cash dividends during
sions for bad debts. In Q4 2010 NBC set aside almost TZS 32 the period.
Asset Ranking
03
as of December 31st 2010 National
Microfinance
Azania
BankBancorp
Plc
Founded September 1997

Chairperson Mr. Meshack Ngatunga
Chief Executive Mr. Mark Wiessing, CEO
No. of Employees 2,610 Share Capital as of 31st December 2010
20.00
No. of Branches 139
No. of ATMs 281
Web Address www.nmbtz.com
TZS bn
N
MB is the largest bank in the bank’s operations department for fif- NMB was formed in 1997
Tanzania, in terms of its teen years through the National
customer base and branch • Bruce Dick Microfinance Bank Limited
network. The bank has 138 • Felix Mosha Incorporation Act
branches located in more • Protase Tehingisa
than 80% of Tanzania’s districts. • Jos van Lange
NMB was formed in 1997 through the • Mike Laiser
National Microfinance Bank Limited Incor- • Margaret Ikongo
poration Act. It was then wholly owned by • William Mlaki
the government of Tanzania. In 2005, gov- • Mr. Yona Killagane
ernment sold a 49% stake to a consortium
led by the Rabobank Group of the Nether- Senior Management
lands. Institutional investors from Tanza- • Mark Wiessing, Chief Executive Officer.
nia were the National Investment Company Mr. Wiessing’s appointment as NMB’s
(NICOL), Exim Bank and TCCIA Invest- Chief Executive Officer came into effect
ment Company. In November 2008, govern- on December 1, 2010. Until his appoint-
ment listed 21% of its stake on the Dar es Sa- ment he was the Chief Executive Officer
laam Stock Exchange.
Shareholders
• Rabobank – 34.9%
• Government of Tanzania – 31.78%
• Publicly listed shares – 20.42%
• National Investment Company Ltd
(NICOL) –4.6%
• Exim Bank Tanzania – 5.8%
• TCCIA Investment Co. Ltd – 1.7%
Board of Directors
• Meshack Ngatunga, Chairperson. Mr.
Ngatunga has a strong background in
management, banking and consultan-
cy. From 1995 to 2003 he managed the
East Africa regional office of the Africa
Project Development Facility (APDF).
Prior to that, he worked with the East Af-
rica Development Bank, where he headed

of Zambia National Commercial Bank (ZANACO), a sub- TZS 22 billion in Q3 2010 before falling slightly to TZS 19
sidiary of Rabobank Group. He holds an MBA from the billion in Q4 2010. Profits have remained robust at levels
University of Georgia in the USA ranging between TZS 8.6 billion in 2006 to TZS 13.5 bil-
• Waziri Barnabas, Chief Financial Officer lion in 2010.
• John Ncube, Chief Information Officer NMB’s deposit base expanded 2.7 times from TZS 667
• Danny Van Det, Chief Credit Management Officer billion to TZS 1.8 trillion during the period. Loans grew over
• Kees Verbeek, Chief Commercial Officer ten times from TZS 84 billion to TZS 858 billion. The rate of
• Arjan Molenkamp, Chief Operations Officer non-performing loans declined from the peak of over 9% in
Q3 2008 to under 2.5% by Q4 2010.
Selected Financial Trends NMB’s shareholders funds are dominated by retained
NMB’s quarterly net interest income has grown from TZS earnings and strong quarterly profits. Paid up share capital,
18.8 billion in Q1 2006 to TZS 32.6 billion in Q4 2010, af- unchanged at TZS 20 billion has seen its portion of the capi-
ter peaking at TZS 35.6 billion in Q4 2008. The bank’s tal structure fall from just under 30% in Q1 2006 to just 9%
quarterly non-interest income has also grown steadily, in Q4 2010. NMB has paid a total of TZS 54.7 billion in cash
and accelerated from TZS 9.5 billion in Q1 2009 to reach dividends since 2006.
Asset Ranking
23
NIC Bank
Azania
Tanzania
Bancorp
Founded 1994 as a non-bank financial institution,

June 2004 as commercial bank
Chairperson Mr. Abdulsultan Hasham Jamal
Chief Executive Mr. James Muchiri, Chief Executive Officer
No. of Branches 3
No. of ATMs
Web Address
0
www.sfltz.com or www.nic-bank.com
TZS 12.70 bn
N
IC Bank Tanzania was es- • James Macharia NIC Bank Tanzania was
tablished in 2009 after the established in 2009 after
acquisition of Savings and Senior Management the acquisition of Savings
Finance Limited by NIC • James Muchiri, Managing Director and and Finance Limited
Bank of Kenya. Savings and Chief Executive Officer. Mr. Muchiri by NIC Bank of Kenya.
Finance Commercial Bank Limited started joined NIC Bank (Tanzania) from NIC Savings and Finance
its operations in 1994 as a non-bank finan- Bank (Kenya), where he was the Direc- Commercial Bank Limited
cial institution. It was converted into a com- tor of Technology and Operations. He started its operations
mercial bank in 2004. Currently the bank joined NIC Bank (Kenya) from a position in 1994 as a non-bank
has branches in Dar es Salaam, Mwanza as Standard Chartered Bank’s Head of financial institution
and Arusha. The Bank offers various deposit Banking Service Delivery, Africa Region.
products to meet clients’ banking needs. He has a Bachelor of Education in Science
The bank also offers various credit facilities degree from Kenyatta University and a
and other banking services. Post Graduate Diploma in Computer Sci-
ence from the University of Nairobi
Shareholders • Adam S. Walwa, Head of Business
NIC Bank of Kenya acquired a 51% control- Development
ling stake of Savings and Finance Commer- • Christopher Kazalla, Manager, Internal
cial Bank in May 2009. NIC Bank was incor- Audit
porated in Kenya in 1959. The bank was one
of the first to provide hire purchase and in-
stallment credit finance facilities in Kenya.
NIC Bank went public in 1971 and is listed
on the Nairobi Stock Exchange. It has ap-
proximately 25,000 shareholders. NIC Bank
Tanzania’s remaining 49% stake is owned
by various individuals.
Board of Directors
• Abdulsultan H. Jamal, Chairperson. Mr.
Jamal is a Tanzanian businessman and
industrialist with business interests in
manufacturing, export and construc-
tion. He is a Director of Jubilee Insurance
Company of Tanzania Limited
• Sharmapal Aggarwal
• Mark Bomani
• Andrew Ndegwa

Selected Financial Trends there was some scaling back. It has recovered to reach TZS
NIC Bank’s quarterly net interest income has been fairly 55.4 billion in Q4 2010. Loan growth was modest at first,
steady at around TZS 660 million. From Q4 2009, a dis- reaching TZS 31.4 billion in Q2 2008, retreating slightly over
tinctly upward trend is evident, reaching TZS 1.27 billion the next six quarters to TZS 24.1 billion. It doubled to TZS
in Q3 2010 and falling slightly to TZS 1.23 billion in Q4 48 billion by Q3 2010 and has moderated slightly to TZS 44
2010. The bank’s quarterly non-interest income has also billion in Q4 2010. The rate of non-performing loans trended
grown from an average of TZS 433 million between Q3 downwards from 5% to almost 0% in Q4 2008. It then in-
2006 and Q2 2010 after which it accelerated to TZS 1.36 creased sharply to peak at 13% in Q1 2010, reflecting the new,
billion in Q3 2010. Quarterly profits were positive, averag- more aggressive provisioning policy.
ing TZS 240 million between Q3 2006 and Q1 2009. There Between 2006 and 2008, NIC Bank’s shareholders
followed a period of losses caused by some aggressive pro- funds were made up of paid up share capital and retained
visioning for bad loans totaling TZS 1.755 billion between earnings and profitability in roughly equal proportions. The
Q4 2008 and Q4 2009. Profitability returned in 2010, driv- new shareholder’s capital injection of TZS 6.127 billion is evi-
en by revenue growth. dent in Q2 2009, after which paid up share capital dominates
NIC Bank’s deposits grew steadily to Q1 2009 when the bank’s shareholders funds.
Asset Ranking
07
Stanbic Bank
Azania
Tanzania
Bancorp
Founded May 1995

Chairperson Mr. Hatibu Senkoro
Chief Executive Mr. Bashir Awale, Managing Director
4.98
No. of Branches 11
No. of ATMs 16
Web Address www.stanbic.com
TZS bn
S
tanbic Bank in Tanzania Limit- Stanbic Bank from Citibank Tanzania, The Standard Bank Group,
ed was established in May 1995 where he served as the Deputy Manag- based in Johannesburg,
when the operations of Meridi- ing Director South Africa, has total
en Biao Bank Tanzania Limited • Juliana Sweke, Head of Finance assets of USD 81 billion
were acquired by the Standard • Sioi Solomon, Head of Legal and employs 35,000
Bank Group. • Mary Mabiti, Head of Internal Audit people worldwide. Its
• Abdallah Singano, Head of Marketing network spans 17 sub-
Shareholder and Corporate Affairs Saharan countries
The Standard Bank Group, based in Johan- • Douglas Kamwendo, Head of Personal (including South
nesburg, South Africa, has total assets of and Business Banking Africa) and extends to
USD 81 billion and employs 35 000 people • Samson Okero, Head of Corporate and 21 countries on other
worldwide. Its network spans 17 sub-Saha- Investment Banking continents, including
ran countries (including South Africa) and • Mariam Bayumi, Head of Human Re- key financial centres in
extends to 21 countries on other continents, sources Europe, the United States
including key financial centres in Europe, • Lulu Shikonyi, Head of Operations and Asia
the United States and Asia. In addition to • Daniel Maginga, Head of Credit
banking, Standard Bank has a strategic in- • Lightness Mauki, Head of Risk
terest in the insurance industry through its • Zainul Chandoo, Head of Global Markets
control of the Liberty Group, one of Africa’s
leading life offices and financial services
groups.
Board of Directors
• Hatibu Senkoro. Mr. Senkoro is a Certi-
fied Public Accountant and an experi-
enced banker. He has worked in senior
management positions of various par-
astatals and private companies, including
the Tanzania Development Finance Com-
pany (TDFL)
• George Alliy
• Abdulrahman Kinana
• Joaquine DeMello
• Hamisi Kibola
Senior Management
• Bashir Awale, Managing Director. An
experienced banker, Mr. Awale joined

Selected Financial Trends a 26% jump in non-interest expenses in that quarter.
Stanbic’s quarterly net interest income has increased from Stanbic’s deposits have more than doubled from TZS
TZS 3.4 billion in Q1 2006 to TZS 7.2 billion in Q4 2010. Non- 220 billion to TZS 480 billion during this period. Loans ex-
interest income has also expanded from TZS 3.6 billion to panded 2.8 times from TZS 117 billion to TZS 327 billion.
TZS 6.7 billion in Q4 2010. Income trends have been volatile, During the same period, the bank reduced the rate of non-
with the drop in non-interest income from TZS 9.4 billion in performing loans from the peak of 36% in Q2 2006 to 2.6% in
Q4 2007 to a loss of TZS 179 million by Q2 2008 being nota- Q4 2010.
ble. Stanbic’s profitability suffered in 2006 due to provisions In 2006, Stanbic’s shareholder’s funds saw a reduc-
for bad loans totaling TZS 14.3 billion. Such provisions have tion in retained earnings as losses accumulated. In the same
declined sharply in subsequent years, and in Q3 2010, Stanbic year, Stanbic received TZS 22.5 billion in share premium and
was able to write back TZS 2.7 billion. After making profits long-term debt to strengthen the capital base. Since then, the
in 15 consecutive quarters from Q1 2007 to Q3 2010, the bank bank’s quarterly profits and retentions have increased their
reported a small loss of TZS 17 million in Q4 2010, caused by contribution the shareholders funds.
Asset Ranking
05
as of December 31st 2010 Standard
Chartered Bank
Azania
Tanzania
Bancorp
Founded 1917 (incorporated in Tanzania in 1993)

Chairperson Mr. Mike Hart
Chief Executive Mr. Jeremy Awori, Chief Executive Officer
Auditors KPMG
22.54
No. of Branches 7
No. of ATMs 8
Web Address http://www.standardchartered.com/tz/en/
TZS bn
S
tandard Chartered Bank start- from the University of Manchester in the Standard Chartered
ed operations in Tanzania in UK and a Masters of Business Adminis- Bank started operations
1917 and, following the period tration from McGill University, Canada in Tanzania in 1917 and,
of nationalization, it reopened • Musa Jallow, Head, Consumer Banking following the period
in 1993 as the first international • Nina P. Eshun, Head, Legal and Company of nationalization, it
bank to operate in the country after the lib- Secretary reopened in 1993 as the
eralization of the financial sector. The bank • Mariam Mendy Njie, Chief Finance Officer first international bank
has a total of seven branches, four in Dar • Juanita Mramba, Head, Corporate Affairs to operate in the country
es Salaam, and one each in Mwanza, Aru- • Vivienne Penessis, Head, Human Resources after the liberalization of
sha and Moshi. The bank’s primary target • Kgotso Bannalotlhe, Head, Financial Markets the financial sector
is corporate customers, including major in- • Theobald Sabi, Head, Origination and
ternational corporations, local businesses, Client Coverage
donor agencies, government and parastatal • Alelio Lowassa, Chief Information Officer
organizations. • Irene Sengati-Giattas, Country Opera-
tional Risk Assurance Manager
Shareholders • Fulgence Shirati, Chief Internal Auditor.
Standard Chartered Bank Tanzania is a
wholly owned subsidiary of Standard Char-
tered Bank Plc (UK).
Board of Directors
• Mike Hart, Chairperson. Mr. Hart is
Standard Chartered’s Chief Executive Of-
ficer for Africa Region
• Godfrey Urasa
• Mr. Jayesh Shah
• Mr. Raphael Mollel
• Mr. Richard Etemesi
• Mr. Jeremy Awori
• Ms. Mariam Mendy Njie
Senior Management
• Jeremy Awori, Chief Executive Officer. A
Kenyan national, Mr. Awori joined Stand-
ard Chartered (Tanzania) from Standard
Chartered UAE, where he was the Head
of Consumer Banking. Mr. Awori holds a
Bachelor of Science degree in Pharmacy

Selected Financial Trends lion during the same period, with a peak of TZS 475 billion
Standard Chartered’s quarterly net interest income grew to recorded in Q3 2010. The high rate of non-performing loans
peak at TZS 12 billion in Q3 2007 before retreating to within 2006 and early 2007 – peaking at almost 15% in Q2 2007
in a range of TZS 8-10 billion for the following ten quarters. - was reflected in the provisions and has been managed
In Q2 2010 it reached TZS 11.7 billion before falling sharply downwards to 4.9% in Q4 2010.
to TZS 3.1 billion in the third quarter followed by a bounce The bank’s deep pool of retained earnings of TZS
back to TZS 8.8 billion in Q4 2010. Non-interest income has 23 billion accounted for 60-70% of its shareholders funds
trended steadily upwards, with significant acceleration dis- in 2006 when paid-up share capital was just TZS 1.0 bil-
played in the first three quarters of 2010. The volatility in lion. This was increased to TZS 15 billion through an in-
the bank’s profits in 2006 and 2007 is due primarily to pro- jection of TZS 10 billion by shareholders and by convert-
visions for bad debts in 2006 of TZS 11.7 billion, and subse- ing TZS 4.0 billion of retained earnings into share capital.
quent write-backs in 2007 of TZS 6.1 billion. Another injection of TZS 7.51 billion was made in Q3 2010
The bank’s deposits doubled from TZS 387 billion to to increase the bank’s share capital to TZS 22.54 billion.
TZS 819 billion between Q1 2006 and Q4 2010. Lending ex- Since 2008, the bank has paid out TZS 37 billion in cash
panded by almost 90% from TZS 247 billion to TZS 464 bil- dividends.
Asset Ranking
41
Tandahimba
Azania Bancorp
Community Bank
Founded Incorporated December 2007; Operations

started in October 2008
Chairperson Mr. Athumani Beno Mhagama
Chief Executive Mr. Suleiman Mombo, General Manager
Auditors Globe Accountancy Services
0.27
No. of Branches 1
No. of ATMs 0
Web Address None
TZS bn
T
andahimba Community Bank MSc from the University of Stirling (UK). Tandahimba Community
Limited (TCB) operates from • Mfaume M. Juma, Director. Mr. Juma is Bank Limited (TCB)
Tandahimba District, a ru- a Principal Trade Information Officer at operates from Tandahimba
ral agriculatural community, the Board of External Trade District, a rural community
in Mtwara region. The bank • Abdallah Njovu. Mr. Njovu is the District (omit comma) in Mtwara
started operations in 2008 as a regional Executive Director (DED) of the Tanda- region
banking unit, under the supervision of the himba District Council. He is a Certified
Bank of Tanzania. The bank provides fi- Public Accountant (CPA-T)
nancial services to individuals and groups, • Mr. Suleiman Mombo, Secretary to the
including loans targeting rural enterprises, Board and General Manager
groups, SMEs and individuals.
Senior Management
Shareholders • Suleiman Mombo, Chief Executive Of-
• Tandahimba District Council – 62.90% ficer. Mr. Mombo has over 20 years of
• Individuals – 16.58% experience in the banking sector having
• Tanzania Gatsby Trust Fund – 8.73% worked for NBC, NMB, CF Union Bank
• Masasi District Council – 3.49% and Mbinga Community Bank, before
• Primary Schools (in Tandahimba) – 3.48% joining Tandahimba
• Newala District Council – 2.18%
• SACCOS – 2.03%
• Village Councils – 0.58%
• Non-Governmental Organizations – 0.03%

Board of Directors
• Athumani Beno Mhagama, Chairperson.
Mr. Mhagama is a Certified Public Ac-
countant (CPA-T)
• Manase Charles Ndoroma, Vice Chair-
person of the Board. Mr. Ndoroma is the
Legal Counsel for the Tandahimba Dis-
trict Council
• Dr. Rashid Tamatamah, Director. Dr.
Tamatamah is an Aquatic Ecologist and
a Senior Lecturer at the Department of
Aquatic Sciences and Fisheries of the
University of Dar es Salaam, where he is
also the Head. He holds a PhD from the
University of Waterloo (Canada) and an

• S. M. Mbuma, Chief Internal Auditor. Mr. Mbuma has over been flat. TCB has not yet achieved quarterly profitability as
27 years in banking, having previously worked for NBC income has not yet been able to cover non-interest costs.
and NMB. He holds a BA in Economics TCB’s deposits grew six-fold from TZS 78 million in Q1
• Jofram John, Head of Finance. Mr. John holds a Bachelor 2009 to TZS 463 million in Q4 2010. Lending grew sharply
of Commerce (Accounting) from the University of Dar es to peak at TZS 541 million in Q3 2009. It shrank since then
Salaam to TZS 128 million four quarters later but rebounded to TZS
255 million in Q4 2010. The rate of non-performing loans has
Selected Financial Trends climbed to 22% in Q4 2010.
The bank’s net interest income has been growing steadily TCB has experienced losses since Q1 2009, prompting
since Q1 2009 and peaked at TZS 28 million Q2 2010 before shareholders to inject TZS 39 million in paid-up share capi-
declining in the following two quarters. With the exception tal, and at least TZS 20 million in share premium in order to
of a TZS 30 million spike in Q3 2009, non-interest income has shore up the bank’s capital.
Asset Ranking
11
Tanzania
Investment
Azania Bancorp
Bank
Founded 1970
Chairperson Prof. W. Lyakurwa
Chief Executive Mr. Peter Noni, Managing Director
Auditors Controller and Auditor General (overall) and
Ernst and Young (from 2010)
92.14
No. of Branches 3
No. of ATMs 5 TIB ATMs; Member of Umoja Switch
Web Address www.tib.co.tz
TZS bn
T
anzania Investment Bank (TIB) was estab- Senior Management
lished in 1970 as a development finance institu- • Peter Noni, Managing Director. Mr. Noni is an Economist
tion (DFI). TIB was re-launched as a develop- who previously served as the Director of Economic Policy
ment bank in 2010. It provides credit facilities at the Bank of Tanzania
to businesses in the form of long, medium and • Thomas M.F. Samkyi, Head of Development Financing
short-term working capital and other forms of investment • Bernard P. Mono, Head of Treasury and
funds across different sectors of the economy. Other prod- • Bahati J. Sanga, Head of Information and Communication
ucts include depository services, trade, lease and agriculture Technology
financing. • Leonard O. Mlewa, Head of Portfolio Management
• Stella M. Nghambi, Head of Human Resources and Ad-
Shareholders ministration
• Government of Tanzania – 99.098% • Martha J.J Maeda, Legal Counsel and Secretary to
• Consolidated Holding Corporation – 0.676% the Board
• National Insurance Corporation of Tanzania Ltd – 0.226% • Isaac Kiputa, Chief Internal Auditor
• Bryson E. Mwanga, Officer in charge of Finance and
Board of Directors Operations
• Professor William Lyakurwa, Chairperson. Professor
Lyakurwa is the Executive Director of the African Eco-
nomic Research Consortium. He holds a
PhD in Economics from Cornell Univer-
sity in the USA. Prior to joining AERC, he
worked for the International Trade Cen-
tre in Geneva, Switzerland
• Haruna Masebu, Director. Mr. Masebu is
an Urban Economist. He holds an MBA
from the University of Reading and an MSc
degree from Loughborough University.
• Mr. Mgana I. Msindai, Director. Mr.
Msindai is a former MP
• Mr. Adatus V. Magere, Director. Mr.
Magere is a former Director in the Office
of the President
• Mr. Bedason A. Shallanda, Director. Mr.
Shallanda is an Economist and the Act-
ing Commissioner for Policy Analysis in
the Ministry of Finance and Economic
Affairs
• Mr. Peter Noni, Managing Director

Selected Financial Trends reduction was due to a TZS 1.6 billion surge in non-interest
TIB’s quarterly net interest income has grown steadily from expenses.
an average of TZS 1.4 billion between Q1 2006 and Q3 2007, TIB’s deposits increased by 222% from TZS 35 billion
to an average of TZS 3.4 billion from Q3 2008 to Q4 2010. to TZS 113 billion between Q1 2006 and Q4 2010. The bank’s
Non-interest income was more volatile in 2006 and 2007, lending expanded by 329% from TZS 25 billion to TZS 106
steadied in 2008 and 2009, and has trended upwards from billion during the same period. The ratio of non-performing
TZS 740 million in Q1 2010 to TZS 1.56 billion by Q3 2010, loans is trended upwards from less than 5% in Q1 2006 to
before retreating slightly to TZS 1.4 billion in Q4 2010. TIB’s 15.3% in Q4 2010 and peaked at 34% in Q3 2009.
quarterly net profit has been influenced by write-offs and The structure of TIB’s shareholder funds has been
provisions for bad debts. In 2006 these totaled TZS 2.0 bil- dominated by paid-up share capital, which, with the excep-
lion. There was a net write back in 2007. The profit dips in tion of Q1 2007, has accounted for 60-80% of total capital.
Q4 2008, Q2 2009 and Q2 2010 were all due to bad debt pro- The bank increased its share capital by almost TZS 85 billion
visions of over TZS 1.0 billion each. In Q4 2010, the profit – from TZS 7.642 billion to TZS 92.1
Asset Ranking
20
Tanzania
Azania
PostalBancorp
Bank
Founded March 1992

Chairperson Prof. Leticia Rutashobya
Chief Executive Mr. Alphonce Kihwele, Managing Director
3.46
No. of Branches 27
No. of ATMs 0
Web Address www.postalbank.co.tz
TZS bn
T
anzania Postal Bank (TPB) Senior Management TPB became operational
was established by the Tan- • Alphonce Kihwele, Managing Director as a separate entity from
zania Postal Bank Act No. 11 • Mauro S. Mhule, Head of Finance the Tanzania Posts and
(1991) as amended by Act No. • James Mpayo, Director of Audit Telecommunications
12 of 1992. It was established • Joseph Salala, Head of Compliance Corporation (TP&TC)
as a successor to the Tanganyika Post Of- • Mbaga Mwakyandile, Head of Banking from March 1, 1992. It is
fice Savings Bank (TPOSB), which was es- Operations licensed by the Bank of
tablished by the Post Office Savings Bank • Alexander Malendecha, Head of Credit Tanzania as a non-bank
Ordinance of 1925 and became operational financial institution
in 1927. TPB became operational as a sepa- Selected Financial Trends
rate entity from the Tanzania Posts and TPB’s quarterly net interest income has
Telecommunications Corporation (TP&TC) grown steadily from an average of TZS 1.7
from March 1, 1992. It is licensed by the billion in 2006 to TZS 2.8 billion in 2010.
Bank of Tanzania as a non-bank financial Non-interest income, for the most part, fol-
institution. lowed a similar trend by increasing moder-
ately from a quarterly average of TZS 1.3 bil-
Shareholders lion in 2006 to TZS 1.9 billion in 2010. The
The Government of the United Republic of bank’s net profits were modest in 2006, av-
Tanzania and the Revolutionary Govern-
ment of Zanzibar own 56.3% of TPB. The
Tanzania Postal Corporation owns 33%
and postal workers through their SACCOS
(Tanzania Posts and Telecommunications
Corporation - TPTC SACCOS) have a 10.5%
stake in the bank.
Board of Directors
• Professor Leticia Rutashobya, Chair-
person. Professor Rutashobya is an in-
structor at the University of Dar es Sa-
laam Business School, specializing in
Marketing
• Ms. B.E. Mallogo, Vice Chairperson
• Mr. S.M Hussein
• Ms. J. Lema
• Mr. H.H Mchangila
• Mr Mugisha G. Kamugisha

eraging TZS 360 million. In 2007, the quarterly average was ing, TPB reduced the ratio of non-performing loans from an
TZS 547 million until a large bad debt write-off of TZS 2.2 average of 12% in 2006 to under 3% in 2010.
billion resulted in a loss of TZS 1.2 billion. In 2009 and 2010, TPB’s retained earnings make up most of the share-
profits average TZS 231 million per quarter. Trends suggest holders funds. Paid up share capital increased from TZS
that the fourth quarter of every year seems to be particularly 1.041 billion to TZS 3.463 billion by converting TZS 690
challenging for TPB’s profitability. million of retained earnings in Q4 2006 and injecting
TPB’s deposits have expanded by 89% from TZS 57 TZS 1.0 billion and TZS 500 million in fresh capital in Q3
billion to TZS 108 billion between Q1 2006 and Q4 2010. 2009 and Q4 2010, respectively. As a result, paid up capi-
Lending grew by 281% to reach TZS 65 billion from TZS 17 tal increased its contribution from less than 20% to 40% of
billion during the same period. Despite the growth of lend- shareholders funds.
Asset Ranking
33
Tanzania
Azania
Women Bancorp
Bank
Founded Incorporated February 13, 2007

Chairperson Mr. Daniel Ole Sumayan
Chief Executive Mrs. Margareth M. Chacha, Managing Director
4.80
No. of Branches 1
No. of ATMs Member of the Umoja network
Web Address www.womensbank.co.tz
TZS bn
T
he Tanzania Women Bank • Filbert N. Ngungo, Finance & Adminis- TWB focuses on providing
Limited (TWB) was inau- tration Manager banking services to
gurated in July 2009 to sup- • Lilian R. Musingi, Corporate Legal those economically
port the business activities Secretary disadvantaged women
undertaken by women. TWB who are excluded from
focuses on providing banking services to Selected Financial Trends mainstream banking
those economically disadvantaged women Given its recent entry into operations, services
who are excluded from mainstream banking TWB’s net interest and non-interest income
services. were modest, but they have begun an up-
ward trajectory in 2010. The bank has been
Shareholders making losses although this is reducing as
The Government of Tanzania is the main revenues grow.
shareholder of the bank. Other shareholders TWB’s deposits have increased from
are the Women Development Fund (WDF), TZS 1.0 billion to TZS 13 billion in six quar-
Tanzania Women Leaders in Agriculture ters. Loans have also grown from TZS 8
and Environment (TAWLAE), Kawe Wom- million to TZS 7.9 billion during the same
en Development Economic Trust Fund and
78 individuals. The amount owned by the
different shareholders was not immediately
available.
Board of Directors
• Daniel Ole Sumayan, Chairperson. Mr.
Ole Sumayan is the Director of Corporate
Services at Gaming Board of Tanzania, a
gaming regulatory body
• Dr. Maria S.H. Mashingo
• Khadija Simba
• Joaquine Demello
• Husna Maghembe
Senior Management
• Margareth M. Chacha, Managing
Director
• Damus C. Lubuva, Chief Internal Auditor.
• Mussa O. Mhando, Head of Credit & Busi-
ness Development
• Ritha L. Ndyamukama, Head of IT

period. With the growth in lending, the rate of non-perform- share capital, which is absorbing the early startup losses. In
ing loans has increased to 4%. Q3 2010, an additional TZS 2.0 billion was added to bring the
TWB’s shareholders funds are dominated by paid up total paid up share capital to TZS 4.8 billion.
Asset Ranking
18
The People’s
Azania
Bank of Bancorp
Zanzibar
Founded 1966
Chairperson Mr. Abdulrahman M. Jumbe
Chief Executive Mr. Juma M. Amour, Managing Director
11.00
No. of Branches 4
No. of ATMs 5
Web Address www.pbzltd.com
TZS bn
T
he People’s Bank of Zanzi- Selected Financial Trends PBZ is one of the oldest
bar Limited (PBZ) was es- PBZ’s quarterly net interest income has re- banks in Tanzania and the
tablished in 1966 under Cap. mained over TZS 1 billion between Q4 2008 only one headquartered in
153 of the Zanzibar Compa- and Q4 2010. Non-interest income fell be- Zanzibar
nies Decree. It is one of the tween Q1 2009 and Q2 2010, but increased
oldest banks in Tanzania and the only one by 265% between Q1 2010 and Q3 2010 due
headquartered in Zanzibar. PBZ provides in part to foreign exchange trading profits
retail and corporate banking services, offer- and other income. In Q4 2010, non-interest
ing various savings and depository account income fell by 64% due to a 79% drop in for-
services and credit facilities and Islamic eign exchange earnings. Quarterly profits
banking products and services. have closely tracked non-interest income in
2010, by doubling between Q1 and Q3 2010
Shareholders before also tumbling in Q4 2010.
PBZ is wholly owned by the Revolutionary PBZ’s deposit base expanded by 43%
Government of Zanzibar. from TZS 82 billion in the nine quarters
from Q4 2008 to TZS 118 billion in Q4 2010.
Board of Directors Lending grew by 34% from TZS 25 billion
• Abdulrahman M. Jumbe, Chairperson to TZS 33 billion during the same period,
• Ali Abdalla Suleiman, Director
• Juma Amour Mohamed, Director
• Abdi Khamis Faki, Director
• Abdulwakil Haji Hafidh, Director
Senior Management
• Juma A. Amour, Managing Director
• Juma A. Hafidh, Director of Finance and
Administration
• Mohamed B. Chwaya, Internal audit
manager. Mr. Chwaya is a Certified Pub-
lic Accountant (CPA-T)
People’s Bank of Zanzibar did not publish quarterly accounts until Q4

2008 with the permission of the Bank of Tanzania

while the rate of non-performing loans has been maintained tained and quarterly profits. In Q3 2010 the bank’s share capital
at below 3.5%. was increased from TZS 5.0 billion to TZS 11.0 billion through a
PBZ’s capital structure has consisted of significant re- conversion of retained earnings into paid up share capital.
Asset Ranking
27
Twiga
Azania
Bancorp
Bancorp
Founded 1992 as National Bureau de Change Limited and

2005 as Twiga Bancorp Limited
Chairperson Prof. Ammon V.Y. Mbelle
Chief Executive Mr. Hussein H. Mbululo, CEO
No. of Employees 106
Share Capital as of 31st December 2010
No. of Branches 4
4.50
No. of ATMs Member of the Umoja switch of 58 ATMs
Web Address www.twigabancorp.com
TZS bn
F
ormerly known as National Senior Management In 1998, the National
Bureau de Change Limited, • Hussein H. Mbululo, Chief Executive Officer Bureau De Change was
Twiga Bancorp Limited was • L.G. Kairo, Head of Legal Services transformed into a non-
established in 1992 as a whol- • Gadi H. Mbwilo, Head of Investment bank financial institution,
ly-owned subsidiary of the Banking empowered to handle
former National Bank of Commerce. In • H. Kiule, Operation Risks Manager. all banking transactions
1998, the National Bureau De Change was • Raphael L.M. Mselle, Head of Finance with the exception of
transformed into a non-bank financial in- and Administration taking deposits on current
stitution, empowered to handle all banking • Poster H. Mahaba, Head of Internal Audit accounts. In January
transactions with the exception of taking 2005, it changed its name
deposits on current accounts. In January Selected Financial Trends to Twiga Bancorp Limited
2005, it changed its name to Twiga Ban- Twiga Bankcorp’s legacy as a bureau de
corp Limited and it now operates branches change is reflected in a revenue profile in
in Dar es Salaam, Arusha and Mwanza and which non-interest income is consistently
sub-branches at the Julius Kambarage Ny- larger than net interest income. In 2006, the
erere International Airport. Twiga Bancorp average quarterly non-interest income was
is a member of Umoja Switch ATM and an TZS 692 million, compared to TZS 428 mil-
agent for Moneygram International. lion in net interest income. By 2009, average
Shareholder
• Government of Tanzania – 100%
Board of Directors
• Prof. Amon V.Y. Mbelle, Chairperson.
Professor Mbelle is an Associate Profes-
sor of Economics at the University of Dar
es Salaam
• Hon. Dr. Abdallah O. Kigoda. Dr. Kigoda
is a former Cabinet Minister
• Siraju Juma Kaboyonga. Mr. Kaboyonga
is an economist and a former Member of
Parliament
• Hon. Devota M. Likokola. Hon. Likokola
is a Member of Parliament
• Hulda S. Kibacha. Mrs. Kibacha is a
former Member of Parliament
• Miriam A. Nkumbi
• Godfrey M.K Msella

quarterly non-interest income had increased to TZS 987 mil- end of 2009, before increasing to 14% by Q4 2010.
lion, compared to TZS 471 million in quarterly net interest Trends in the structure of Twiga Bancorp’s sharehold-
income. The trend continued in 2010, when average quarterly ers’ funds suggest some active management of the bank’s
non-interest income was TZS 1.2 billion compared to TZS capital. In 2006 and 2007, paid-up share capital and share
740 billion in net interest income. Profitability was volatile premium made up between 60% and 80% of shareholder
due to changes in expenses and provisions for bad loans. funds. From Q1 2009, there was significant activity con-
Twiga Bancorp’s deposits have grown by 106% from verting retained earnings into other capital accounts and in
TZS 23 billion to TZS 48 billion between Q1 2006 and Q4 Q3 2009, an additional TZS 1.0 billion was added to paid-up
2010. Lending expanded by 285% from TZS 8.0 billion to TZS share capital. Similar conversions took place in the first three
31 billion during the same period. The rate of non-performing quarters of 2010, adding an additional TZS 1 billion to paid-
loans peaked at 29% in Q4 2006, trended downwards to the up share capital in Q4 2010.

Asset Ranking
34
Uchumi
Commercial
Azania Bancorp
Bank
Founded September 2005

Chairperson Dr. Sadikiel N. Kimaro
Chief Executive Mrs. Angela G. Moshi, Acting General Manager
and Head of Credit
No. of Branches 1
No. of ATMs
Web Address
Member of the Umoja switch of 58 ATMs
www.uchumibank.co.tz
TZS 1.34 bn
U
chumi Commercial Bank Senior Management The bank provides
(UCB) operates from Moshi, • Angela G. Moshi, Acting General Manag- affordable and convenient
Kilimanjaro region. UCB er and Head of Credit banking services to
was authorized by the Bank • Charles A. Kihiyo, Head of Finance and small and medium-size
of Tanzania to operate as a Administration enterprises in Kilimanjaro
regional unit bank in September 2005. The • Wilfred S. Mwanri, Head of Banking region and surrounding
bank provides affordable and convenient Operations locations. It focuses
banking services to small and medium-size • Dawson A. Temu, Head of Internal Audit on supporting savings
enterprises in Kilimanjaro region and sur- and credit cooperative
rounding locations. It focuses on support- Selected Financial Trends societies
ing savings and credit cooperative societies UCB’s quarterly net interest income has
(SACCOS) serving communities in the area. grown steadily from TZS 2 million in Q1
Leading sectors in the loan portfolio include 2006 to TZS 291 million by Q4 2010. The
retail trade and agriculture. bank’s quarterly non-interest income has
also grown from an average of TZS 6.0 mil-
Shareholders lion in 2006 to TZS 46 million in 2010. Fol-
UCB’s main shareholder is the registered lowing a loss-making 2006, UCB has gener-
Trustee of Evangelical Lutheran Church of ated quarterly profits since 2007.
Tanzania (ELCT) Northern Diocese, which
represents 152 parishes and various stand-
alone projects and institutions.
Board of Directors
• Dr. Sadikiel N. Kimaro, Chairperson. Dr.
Kimaro holds a PhD in Economics. He is
a former Economist at the International
Monetary Fund and a former Economic
Advisor to the President of Tanzania
• Rt. Rev. Dr. Erasto N. Kweka. Bishop
Kweka is the retired bishop of the Evan-
gelical Lutheran Church of Tanzania
(ELCT) – Northern District. He holds a
Doctorate in Divinity and is a farmer
• Gilliard L. Nkini
• Elizabeth P. Minde
• Clement Z. Kwayu
• Munguatosha J. Makyao

UCB’s deposits have grown ten-fold from TZS 869 mil- UCB’s capital base is dominated by paid up share capi-
lion in Q1 2006 to TZS 8.8 billion by Q4 2010. Lending has ex- tal, which helped to absorb the early losses. Between Q4 2006
panded from an even lower level of TZS 33 million to reach and Q4 2010, a total of TZS 960 in new share capital was in-
TZS 5.6 billion during the same period. The rate of non-per- jected, raising it from TZS 378 million to TZS 1.34 billion. In
forming loans grew to over 13% in Q1 2009 but has since re- 2009 and for the most part of 2010, shareholder funds grew
treated to 4% in Q4 2010. through positive retained earnings and quarterly profits.

Asset Ranking
29
as of December 31st 2010 United Bank
For Africa
Azania Bancorp
Tanzania
Founded Dec 2008; Operations started in October 2009

Chairperson Gen. (Retired) Robert P. Mboma
Chief Executive Ayobola Abiola, Managing Director
No. of Branches 2
No. of ATMs
Web Address
2
www.ubagroup.com
TZS 19.27 bn
U
BA Tanzania was incorpo- • Angela Nwabuoku UBA plans to build a
rated in Tanzania on De- • Alex Trotter strong public, private
cember 1, 2008 and is regu- partnership to complement
lated as a commercial bank Senior Management the Government’s
by the Bank of Tanzania. • Ayobola Abiola, Chief Executive Officer. efforts in infrastructure
UBA Tanzania targets corporate and retail Mr. Abiola is an economist. Prior to join- development
customers with a wide range of products ing UBA Tanzania he was Senior Vice
and services. It plans to build a strong pub- President at First City Monument Bank
lic, private partnership to complement the Plc (Nigeria). He holds an MBA from the
Government’s efforts in infrastructure de- University of Leicester, is a Certified Pub-
velopment. The bank will open additional lic Accountant (Nigeria) and an Associate
branches to deepen the penetration of bank- of the Chartered Institute of Taxation of
ing services in the country. Nigeria (ACTI)
• Imo Etuk, Chief Operating Officer
Shareholders • Alexander Ngusaru, Head of Treasury
UBA Tanzania is majority-owned by UBA • Frank Karatta, Chief Credit Officer
Plc of Nigeria. UBA Plc is one of Africa’s larg- • Jeremiah Oseh, Chief Internal Auditor
est financial institutions offering universal • Emmanuel Shayo, Chief Financial Officer
banking to more than 7 million customers (Acting)
across 750 branches in 16 African countries
as well as in New York, London and Paris. It
was formed in 2005 through the merger of
Nigeria’s third largest (the original UBA) and
fifth largest (Standard Trust Bank) banks,
and a subsequent acquisition of Continental
Trust Bank. Institutional investors hold 28%
of UBA Plc shares, ordinary investors hold
59%, and staff and directors hold 13%.
Board of Directors
• Robert P. Mboma. General (Rtd.) Mboma
is the former Chief of Defense Forces in
Tanzania. He also serves as the board
Chairperson of the Tanzania Petroleum
Development Corporation
• Esther Mkwizu
• Rasheed Olaoluwa
• Femi Olaloku

Selected Financial Trends driven by non-interest income.
The first five quarters of operations have seen UBA Tanza- The bank’s deposits have expanded five-fold from
nia’s net interest income decline from TZS 639 million in Q4 TZS 3.9 billion to TZS 20.6 billion, while lending grew
2009 to TZS 336 million by Q4 2010, due to the constant ris- from a standing start of TZS 104 million to TZS 2.8 billion.
ing of interest expense from the onset and falling interest By Q4 2010, the bank had not recorded any non-perform-
income during the first three quarters of operations. Non- ing loans.
interest income trended strongly upwards during the first In its first five quarters of operations, UBA Tanzania’s
four quarters of operations, rising to TZS 1.25 billion from capital structure is still dominated by paid-up share capital
just TZS 8 million during the same period, before falling into of TZS 18.0 billion, which in Q2 2010 was boosted by an ad-
negative territory in Q4 2010. Net profits trends have been ditional injection of TZS 1.275 billion.

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1 Introducing the Tanzania Banking Survey Report

Tanzania Banking Survey 2011 ix

Tanzania Banking Survey 2011 1

...bridging you to your needs.

Tanzania Banking Survey 2011 3

Tanzania’s banking sector - comparing two quarters

The industry’s quarterly revenues have

Tanzania Banking Survey 2011 5

The industry’s profit margins have trended

Selected Industry Ratios

The market share

Tanzania Banking Survey 2011 9

Rank Bank TZS (million) USD Market share

Rank Bank TZS (million) USD Market share

Tanzania Banking Survey 2011 11

Rank Bank TZS (million) USD Market share

Tanzania Banking Survey 2011 13

Rank Bank TZS (million) USD Market share

Rank Bank TZS (million) USD Market share

Tanzania Banking Survey 2011 15

Rank Bank TZS (million) USD Market share

Tanzania Banking Survey 2011 17

Rank Bank Number Market share

Rank Bank Number Market share

Tanzania Banking Survey 2011 19

33 Access Bank Tanzania 61 Ecobank Tanzania 89 National Bank of Commerce

Founded August 2007

Tanzania Banking Survey 2011 23

Founded Founded 1993; Registered August 1997

Tanzania Banking Survey 2011 25

Founded May 95; Fully licensed commercial bank Oct 04

Tanzania Banking Survey 2011 27

Founded 1996; Fully licensed commercial bank – 2002

Tanzania Banking Survey 2011 29

Founded February 2007

Tanzania Banking Survey 2011 31

Tanzania Banking Survey 2011 33

Founded 1956 then nationalized; Reopened branch 2004