National Bank of Commerce (Tanzania)
 | |
| Private | |
| Industry | Financial Services |
| Founded | 2000 |
| Headquarters | Dar es Salaam, Tanzania |
Key people |
Mussa Assad (Chairman) |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue |
 Preax:US$8.96 million (TZS:14.3 billion) (2013) |
| Total assets | US$994+ million (TZS:1.587 trillion) (2013) |
Number of employees | 1,300+ (2012) |
| Slogan | "Conveniently Everywhere" |
| Website |
www |
National Bank of Commerce (Tanzania), whose full name is National Bank of Commerce (Tanzania) Limited, sometimes referred to as NBC (Tanzania), or as NBC (Tanzania) Limited, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the country's central bank and the national banking regulator.[1]
Overview
As of December 2013, NBC (Tanzania) was a large financial services provider in Tanzania, with an estimated asset valuation of approximately US$994 million (TZS:1.587 trillion), and shareholders' equity of approximately US$120.4 million (TZS:195 billion). At that time, it was the fourth-best capitalized commercial bank in the country, behind National Microfinance Bank, CRDB Bank and FBME Bank.[2]
History
The bank traces its origins to 1967 when the Tanzanian Government nationalized financial institutions, including banks. In 1991, the banking industry was deregulated. Six years later, in 1997, the institution then known as "NBC" was split into three separate entities: (a) NBC Holding Corporation (b) National Microfinance Bank (NMB) and (c) NBC (1997) Limited. In 2000, the South African banking group Barclays Africa Group, at that time known as Absa Group Limited, acquired a majority stake in NBC (1997) Limited. The Government of Tanzania retained a 30% shareholding and the International Finance Corporation (IFC), a member of the World Bank Group took up 15% shareholding in the bank. The new entity became known as National Bank of Commerce (Tanzania) Limited.[3]
Ownership
The current shareholding in NBC (Tanzania) is as depicted in the table below:[4]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Barclays Africa Group | 55.0 |
| 2 | Government of Tanzania | 30.0 |
| 3 | International Finance Corporation | 15.0 |
| 4 | TOTAL | 100.0 |
Merger
As at March 2016, Barclays Bank Plc. is seeking regulatory approval in Tanzania to merge this bank with Barclays Bank Tanzania in which Barclays maintains a controlling interest.[5]
Barclays Africa Group
The Barclays Africa Group, formerly known as Absa Group Limited, is the largest consumer banking group in South Africa. It controls assets in excess of US$77 billion (ZAR:841.33 billion), as of June 2013.[6] In addition to its vast businesses inside South Africa, the Group owns subsidiaries operating in various parts of Africa, including majority shareholding in businesses in Angola, Mozambique and Tanzania, as well as minority interests in businesses in Namibia and Zimbabwe. In 2013, Absa Group Limited rebranded to Barclays Africa Group.
Branch Network
As of October 2014, NBC Bank Tanzania maintains a branch network at the following locations:[7]
Key people
Dr. Mussa Assad is the Chairman of the Board. The current Managing Director of NBC (Tanzania) Limited, has not been publicly announced. Ms Mizinga Melu, who was appointed effective May 20, 2013, was reassigned on 1 October 2014.[8]
See also
References
- ↑ "List of Licensed Commercial Banks In Tanzania". Bank of Tanzania. Retrieved 29 October 2014.
- ↑ Times, Reporter (13 December 2013). "Tanzania Banks' Total Assets Fell In Third Quarter". Business Times (Tanzania). Retrieved 29 October 2014.
- ↑ Mwakyusa, Alvar (29 October 2014). "Tanzania: TSh22 Billion NBC Debt to ABSA Will Be Paid, BOT Affirms". Business Daily (Tanzania). Retrieved 29 October 2014.
- ↑ Times, Correspondent (25 February 2011). "Banking In Tanzania: What Makes NBC Limited Different". Business Times (Tanzania). Retrieved 29 October 2014.
- ↑ Olingo, Allan (12 March 2016). "Barclays to merge Tanzania units, says it will not split Africa business". The EastAfrican. Nairobi. Retrieved 12 March 2016.
- ↑ Absa, . (30 July 2013). "Absa Group Limited: Unaudited Condensed Consolidated Financial Results For The Interim Reporting Period Ended 30 June 2013" (PDF). Barclays Africa Group. Retrieved 29 October 2014.
- ↑ NBCT, . "The Branch Network of National Bank of Commerce Tanzania". National Bank of Commerce Tanzania (NBCT). Retrieved 29 October 2014.
- ↑ Udoh, Nse (10 September 2014). "Zambian Woman, Mizinga Melu, Gets Top Barclays Executive Post". © 2014 Zambia Reports via AllAfrica.com. Retrieved 29 October 2014.
External links
- Registered Banks in Tanzania
- NBC (Tanzania) Homepage
- NBC Bank Makes Sh14.3 Billion Pre-Tax Profit In 2013
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