NCBA Bank Tanzania

NCBA Bank Tanzania Limited, formerly known as NIC Bank Tanzania, and before that known as Savings and Finance Commercial Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

NCBA Bank Tanzania is a medium-sized financial services provider in Tanzania. Its total assets at the end of 2013 was approximately US$110.3 million. The bank is a subsidiary of NCBA Group Plc of Kenya, which owns a 68.9 percent controlling shareholding.

History
The institution started as a non-bank financial institution in 1994. In 2004, following the issuance of a banking license by the Bank of Tanzania, the institution converted into a fully fledged commercial bank, under the SFCB name. In May 2009, NIC Bank, a large financial services provider based in Nairobi and traded on the Nairobi Stock Exchange, took a 51 percent shareholding position in SFCB. During 2010, the Tanzanian subsidiary successfully re-branded to NIC Bank Tanzania.

Ownership
As of June 2015, NIC Bank owns 69.84 percent of the stock of NICBT. The remaining shareholding is owned by other corporate entities and individuals, including the East African Development Bank.

NCBA Group
In September 2019, NIC Bank Group received regulatory approval from the Central Bank of Kenya, to merge with Commercial Bank of Africa, forming the NCBA Group Plc, effective 1 October 2019. In due course, subject to the approval of the Bank of Tanzania, NIC Bank Tanzania and Commercial Bank of Africa (Tanzania) will merge to form NCBA Bank Tanzania.

Branch network
, the bank maintained branches at the following locations:

 Main Branch - Ohio Street, Dar es Salaam
 Samora Avenue Branch - Harbour View Towers, Samora Avenue, Dar es Salaam
 Arusha Branch - Central Plaza, Sokoine Road, Arusha
 Mwanza Branch - 5 Nyerere Road, Mwanza
 Kahama Branch - Kahama

See also
 List of banks in Tanzania
 List of banks in Africa
 Economy of Tanzania

References

Category:Banks of Tanzania
Category:Dar es Salaam
Category:Banks established in 1994
Category:Financial services companies established in 1994
Category:1994 establishments in Tanzania