Exim Bank (Tanzania)
Encyclopedia
Exim Bank (EBT), is a commercial bank
in Tanzania
. The bank is one of the commercial banks licensed by the Bank of Tanzania
, the national banking regulator.
s in the country, by assets. By 31 March 2011, the bank's total assets had increased to US$503 million (TZS:750.9 billion).
In December 2010 EBT was the winner for the Best Presented Financial Statement for 2009 at an event in Arusha
hosted by the National Board of Accountants and Auditors
.
n businesspeople, following the liberalization of the Tanzanian economy. It reportedly broke even within the first five months of operation. , EBT maintains a banking subsidiary in the Comoros
(Exim Bank (Comores)), which it owns 100%. EBT remains the only indigenous Tanzanian Bank with outside subsidiaries. In April 2010, the bank received authorization from the Bank of Tanzania
, the country's banking regulator, to establish subsidiaries in Djibouti
and in Zambia
, thus setting up the Exim Bank (East Africa) Group, a regional banking financial services organization. EBT also owns a minority shareholding (5.8%) in the National Microfinance Bank
.
{| style="font-size:95%;"
|-
| width="80%" align="center" | Exim Bank (Tanzania) Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Yogesh Manek (Non Executive Director)||20.0
|-
|2||Hanif Jaffer (Non Executive Director)||20.0
|-
|3||Shaffin Jamal (Non Executive Director)||20.0
|-
|4||Others||40.0
|-
|5|| TOTAL||100.0
|-
|}
is Yogesh Manek, a non-Executive Director, and a shareholder in the bank. The Managing Director and Chief Executive Officer
is Sabetha Mwambenja, who is a non-shareholder. Ms. Mwambenja is the first female to serve as the CEO of a major bank in the history of Tanzania.
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...
. The bank is one of the commercial banks licensed by the Bank of Tanzania
Bank 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.
Overview
EBT is a large banking institution, providing commercial banking services to individuals, small-to-medium sized corporate clients (SMEs), and large companies. As of December 2010, the bank's total asset valuation was estimated at over US$464.4 million (TZS:710 billion). At that time, the bank was ranked 6th out of the 30 commercial bankCommercial 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...
s in the country, by assets. By 31 March 2011, the bank's total assets had increased to US$503 million (TZS:750.9 billion).
In December 2010 EBT was the winner for the Best Presented Financial Statement for 2009 at an event in Arusha
Arusha
Arusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
hosted by the National Board of Accountants and Auditors
National Board of Accountants and Auditors
The National Board of Accountants and Auditors is an accounting professional and regulatory body operating under the Ministry of Finance and Economic Affairs, the sole body to certify accountants in Tanzania.It began operating on 15 January 1973....
.
History
EBT was formed in 1997 by a group of TanzaniaTanzania
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...
n businesspeople, following the liberalization of the Tanzanian economy. It reportedly broke even within the first five months of operation. , EBT maintains a banking subsidiary in the Comoros
Comoros
The Comoros , officially the Union of the Comoros is an archipelago island nation in the Indian Ocean, located off the eastern coast of Africa, on the northern end of the Mozambique Channel, between northeastern Mozambique and northwestern Madagascar...
(Exim Bank (Comores)), which it owns 100%. EBT remains the only indigenous Tanzanian Bank with outside subsidiaries. In April 2010, the bank received authorization from the Bank of Tanzania
Bank 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 country's banking regulator, to establish subsidiaries in Djibouti
Djibouti
Djibouti , officially the Republic of Djibouti , is a country in the Horn of Africa. It is bordered by Eritrea in the north, Ethiopia in the west and south, and Somalia in the southeast. The remainder of the border is formed by the Red Sea and the Gulf of Aden at the east...
and in Zambia
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
, thus setting up the Exim Bank (East Africa) Group, a regional banking financial services organization. EBT also owns a minority shareholding (5.8%) in the National Microfinance Bank
National Microfinance Bank
National Microfinance Bank , is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the national banking regulator.-Overview:...
.
Ownership
The stock of Exim Bank (Tanzania) is owned by private individuals and corporate entities. The current shareholding in the bank is summarized in the table below:{| style="font-size:95%;"
|-
| width="80%" align="center" | Exim Bank (Tanzania) Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Yogesh Manek (Non Executive Director)||20.0
|-
|2||Hanif Jaffer (Non Executive Director)||20.0
|-
|3||Shaffin Jamal (Non Executive Director)||20.0
|-
|4||Others||40.0
|-
|5|| TOTAL||100.0
|-
|}
Branch Network
, EBT maintains branches at the following locations inside Tanzania:- Clock Tower Branch - Samora Avenue, Dar es SalaamDar es SalaamDar 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: ...
- Main Branch - Exim Tower, Dar es SalaamDar es SalaamDar 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: ...
- Mlimani Branch - Mlimani City, Dar es SalaamDar es SalaamDar 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: ...
- Samora Avenue Branch - 9 Samora Avenue, Dar-es-Salaam
- Kariakoo Branch - Morogoro Road, Dar es SalaamDar es SalaamDar 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: ...
- Namanga Branch - Namanga, Dar es SalaamDar es SalaamDar 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: ...
- Nyerere Road Branch - Nyerere Road, Dar es SalaamDar es SalaamDar 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: ...
- Temeke Branch - Chang'ombe, Dar es SalaamDar es SalaamDar 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: ...
- Ubungo Branch - UbungoUbungoUbungo is a ward in the Kinondoni district of Dar es Salaam, Tanzania. It is located in the western part of the district and is known throughout much of Tanzania as one of the central hubs of transportation because of its massive bus terminal....
, Dar es SalaamDar es SalaamDar 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: ... - Mwanza Branch - Kenyatta Road, MwanzaMwanzaMwanza is a mid-sized port city on the southern shores of Lake Victoria in northwestern Tanzania. With an urban population of 1.2 million and a metropolitan population of 2 million, it is Tanzania's second largest city, following Dar es Salaam and ahead of other major Tanzanian cities of Arusha,...
- Arusha Branch - Goliondoi Road, ArushaArushaArusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
- Mount Meru Branch - Uhuru Road, ArushaArushaArusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
- Manyara Branch - Karatu, ArushaArushaArusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
- Moshi Branch - Boma Road, MoshiMoshiMoshi is a Tanzanian town with a population of 144,739 in Kilimanjaro Region. The town is situated on the lower slopes of Mt Kilimanjaro, a volcanic mountain that is the highest mountain in Africa....
- Tanga Branch - Independence Avenue, TangaTanga, TanzaniaTanga is both the name of the most northerly seaport city of Tanzania, and the surrounding Tanga Region. It is the Regional Headquarters of the region.With a population of 243,580 in 2002, Tanga is one of the largest cities in the country...
- Zanzibar Branch - Mlandege Street, ZanzibarZanzibar CityZanzibar City is the capital and largest city of Zanzibar, in Tanzania. It is located on the west coast of Unguja, the main island of the Zanzibar Archipelago, roughly opposite to Dar es Salaam across the Zanzibar Channel...
- Morogoro Branch - Lumumba Road, MorogoroMorogoroMorogoro is a city with an urban population of 206,868 in the southern highlands of Tanzania, 190 km west of Dar es Salaam. It is the capital of the Morogoro Region...
- Mbeya Branch - Industrial Area, MbeyaMbeyaMbeya is a city located in southwest Tanzania, Africa. Mbeya's urban population was 280,000 in 2005. Mbeya is the capital of the surrounding rural Mbeya region ....
- Mtwara Branch - Tanu Road, Mtwara
- Babati Branch - BabatiBabatiBabati is a small city and district of the Manyara Region of Tanzania. The administrative capital of the district 'Babati Town' is located also administrative capital of the newly formed Manyara Region, 172 km south of Arusha. The District is the capital of Manyara Region...
- Iringa Branch - IringaIringaIringa is a city in Tanzania with a population of 112,900 . It is situated at a latitude of 7.77°S and longitude of 35.69°E. The name is derived from the Hehe word lilinga, meaning fort....
- Karatu Branch - KaratuKaratuKaratu is one of the five districts in the Arusha Region of Tanzania. It is bordered by the Ngorongoro District to the north, the Shinyanga Region to the west, the Monduli District to the east, and the Manyara Region to the south and southeast....
Governance
The Chairman of the BoardChairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
is Yogesh Manek, a non-Executive Director, and a shareholder in the bank. The Managing Director and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
is Sabetha Mwambenja, who is a non-shareholder. Ms. Mwambenja is the first female to serve as the CEO of a major bank in the history of Tanzania.