Dar es Salaam Community Bank
Encyclopedia
Dar es Salaam Community Bank (DCB) is a commercial bank
in Tanzania
. It is one of the twenty-nine (29) licensed commercial banks in the country.
bank established to serve the banking needs of the poorest of the poor in the city of Dar-es-Salaam and its suburb
s. The stock of the bank is listed on the Dar es Salaam Stock Exchange. , the total asset base of DCB was valued at approximately US$58 million, with shareholders' equity of US$9 million.
, the national banking regulator. DCB commenced commercial banking services in April 2002. In 2003, the Bank of Tanzania issued DCB with an unrestricted banking license as a regional unit bank, whose services are restricted to serving the Dar es Salaam area only. In 2008, the stock of DCB was floated on the Dar es Salaam Stock Exchange through the issuance of an IPO
. The stock trades under the symbol:DCB.
is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol:DCB. The bank's stock is owned by the following corporate entities and individuals:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Dar es Salaam Community Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Dar es Salaam City Council
||08.86
|-
|2||Ilala Municipal Council
||08.25
|-
|3||Kinondoni Municipal Council
||08.11
|-
|4||Temeke Municipal Council
||07.40
|-
|5||Unit Trust of Tanzania||09.05
|-
|6||Private Individuals and Corporations||58.33
|-
| ||Total||100.00
|-
|}
. Paul Milyango Rupia, one of the non-Executive Directors is the Chairman. Edmund Pancras Mkwawa, serves as the Managing Director.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. It is one of the twenty-nine (29) licensed commercial banks in the country.
Overview
DCB is small, private, publicly-traded, microfinanceMicrofinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
bank established to serve the banking needs of the poorest of the poor in the city of Dar-es-Salaam and its suburb
Suburb
The word suburb mostly refers to a residential area, either existing as part of a city or as a separate residential community within commuting distance of a city . Some suburbs have a degree of administrative autonomy, and most have lower population density than inner city neighborhoods...
s. The stock of the bank is listed on the Dar es Salaam Stock Exchange. , the total asset base of DCB was valued at approximately US$58 million, with shareholders' equity of US$9 million.
History
Dar es Salaam Community Bank was incorporated in September 2001. In October 2001, DCB received a provisional banking licence from the Bank of TanzaniaBank of Tanzania
The Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
, the national banking regulator. DCB commenced commercial banking services in April 2002. In 2003, the Bank of Tanzania issued DCB with an unrestricted banking license as a regional unit bank, whose services are restricted to serving the Dar es Salaam area only. In 2008, the stock of DCB was floated on the Dar es Salaam Stock Exchange through the issuance of an IPO
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
. The stock trades under the symbol:DCB.
Ownership
The shares of the bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol:DCB. The bank's stock is owned by the following corporate entities and individuals:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Dar es Salaam Community Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Dar es Salaam City Council
Dar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
||08.86
|-
|2||Ilala Municipal Council
Ilala
Ilala District is one of three districts in Dar es Salaam, Tanzania, the others being Temeke to the South and Kinondoni to the North. The 2002 National Tanzania Census states the population for Ilala as 634,924. The area is 273 km²...
||08.25
|-
|3||Kinondoni Municipal Council
Kinondoni
Kinondoni District is the northernmost of three districts in Dar es Salaam, Tanzania, the others being Temeke and Ilala . To the east is the Indian Ocean, to the north and west the Pwani Region of Tanzania. The 2002 Tanzanian National Census showed that the population of Kinondoni was 1,083,913...
||08.11
|-
|4||Temeke Municipal Council
Temeke
Temeke District is the southernmost of three districts in Dar es Salaam, Tanzania, with Kinondoni located to the far North of the city, and Ilala being located in the downtown of Dar es Salaam. To the East is the Indian Ocean and to the South and West is the Coastal region of Tanzania. The 2002...
||07.40
|-
|5||Unit Trust of Tanzania||09.05
|-
|6||Private Individuals and Corporations||58.33
|-
| ||Total||100.00
|-
|}
Branch Network
, DCB maintains branches at the following locations in Dar-es-Salaam:- Main Branch - Arnautoglu Hall, Bibi Titi Mohamed Road, Dar-es-Salaam
- Tabata Branch - Tabata Dampo AreaTabataTabata is an administrative ward in the Ilala district of the Dar es Salaam Region of Tanzania. According to the 2002 census, the ward has a total population of 46,228.-References:...
, Dar es Salaam - Temeke Branch - TemekeTemekeTemeke District is the southernmost of three districts in Dar es Salaam, Tanzania, with Kinondoni located to the far North of the city, and Ilala being located in the downtown of Dar es Salaam. To the East is the Indian Ocean and to the South and West is the Coastal region of Tanzania. The 2002...
, Dar es Salaam - Magomeni Branch - Kawawa Road, MagomeniMagomeniMagomeni is an administrative ward in the Kinondoni district of the Dar es Salaam Region of Tanzania. According to the 2002 census, the ward has a total population of 22,616....
, Dar es Salaam
Governance
The bank's activities are directed by a nine-person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. Paul Milyango Rupia, one of the non-Executive Directors is the Chairman. Edmund Pancras Mkwawa, serves as the Managing Director.
See also
- List of banks in Tanzania
- List of banks in Africa
- Bank of TanzaniaBank of TanzaniaThe Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
- Economy of TanzaniaEconomy of Tanzania- History :Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment. Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle socialist economic controls and encourage...