Commercial Bank of Africa (Tanzania)


Commercial Bank of Africa (Tanzania)
Commercial Bank of Africa (Tanzania)
Type Private
Industry Financial Services
Founded 1962
Headquarters Dar es Salaam, Tanzania
Key people Nehemiah Kyando Mchechu
Managing Director and CEO[1]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Employees 100+ (2007)
Website Homepage

Commercial Bank of Africa (Tanzania) (CBAT) is a commercial bank in Tanzania. It is one of the twenty-nine (29) banks licensed by the Bank of Tanzania, the country's banking regulator.[2] The bank is a member of the Commercial Bank of Africa Group, headquartered in Nairobi, Kenya, with subsidiaries in Kenya and Tanzania.

Contents

Overview

CBAT serves the banking needs of individuals and businesses in Tanzania. Like its parent company in Kenya, CBAT focuses on meeting the banking needs of large corporations, diplomatic missions, NGOs and high-end private clients.

History

The bank was founded in 1962 in Dar es Salaam, Tanzania. Soon, branches were opened in Nairobi & Mombasa, Kenya and in Kampala, Uganda. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country. In July 2005, Commercial Bank of Africa (CBA) acquired majority shareholding in First American Bank of Kenya, which at the time had a Tanzanian subsidiary called United Bank of Africa.[3]. In 2007, United Bank of Africa rebranded to Commercial Bank of Africa (Tanzania), returning the brand to the country since 1967.[4] In October 2011, the CBA Group anounced plans to enter Uganda.[5]

Ownership

Commercial Bank of Africa (Tanzania) is a wholly owned subsidiary of Commercial Bank of Africa, a large, privately owned commercial bank based in Nairobi, Kenya.

Branch Network

As of November 2011, CBA Tanzania maintains branches at the following locations: [6]

  1. Ohio Street Branch - Ohio Street, Dar es Salaam - Main Branch
  2. Samora Avenue Branch - Samora Avenue, Dar es Salaam
  3. Nyerere Road Branch - Nyerere Road, Dar es Salaam
  4. Kariakoo Branch - Tropical Hotel, Narung'ombe Street, Dar es Salaam
  5. Mbeya Branch - Mbeya
  6. Mwanza Branch - Kenyatta Road, Mwanza
  7. Arusha Branch - Arusha[7]

Governance

Nehemiah Kyando Mchechu is the Managing Director and Chief Executive Officer of Commercial Bank of Africa (Tanzania).

External links

See also

References


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