Exim Bank (Tanzania)


Exim Bank , is a commercial bank in Tanzania, the second-largest economy in the East African Community. The bank is licensed by the Bank of Tanzania, which is the country's central bank and national banking regulator.

Overview

EBT is a large banking institution, providing commercial banking services to individuals, small-to-medium-sized businesses, and large corporate clients., according to its annual report, published on the bank's website, the bank's total assets were valued at TZS 1.604 trillion, assuming an exchange rate of TZS 2,270 per US dollar, with shareholders' equity of TZS 231.454 billion.
EBT was the fifth largest commercial bank in the country, by assets, as of April 2014. By June 2016, the bank's total assets had grown to TZS:1.5 trillion. Following the acquisition of the business and assets of United Bank Tanzania Limited, in November 2019, Exim Bank, increased its assets to US$732.4 million.

History

EBT was formed in 1997 by a group of Tanzanian business people, following the liberalization of the Tanzanian economy. It reportedly broke even within the first five months of operation., EBT maintained wholly owned banking subsidiaries in the Comoros, Djibouti and Uganda. It is the first indigenous Tanzanian bank to own subsidiaries outside the country, as at March 2016. In April 2010, the bank was authorized by the Bank of Tanzania to establish subsidiaries in Djibouti and Zambia, thus setting up the Exim Bank Group, a regional banking financial services organization. In March 2016, EBT acquired 58.6% of Imperial Bank Limited and changed its name to Exim Bank Limited. In November 2019, Exim Bank Tanzania acquired the businesses and assets of United Bank Tanzania Limited, a subsidiary of the Pakistan bank, United Bank Limited.

Subsidiaries

, the bank maintains headquarters in Dar es Salaam, Tanzania's largest city. It maintains the following subsidiaries, which together form the Exim Bank Group :
  1. Exim Bank - Dar-es-Salaam, Tanzania
  2. Exim Bank - Moroni, Comoros
  3. Exim Bank - Djibouti City, Djibouti.
  4. Exim Bank - Kampala, Uganda.

    Ownership

The stock of Exim Bank is owned by private individuals and corporate entities. The current shareholding in the bank is summarized in the table below:
RankName of OwnerPercentage Ownership
1Yogesh Manek20.0
2Hanif Jaffer20.0
3Shaffin Jamal20.0
4Azim Kassam20.0
5Azim Virjee20.0
TOTAL100.0

Branch network

, EBT maintains 33 branches at the following locations inside Tanzania:
  1. Clock Tower Branch - Samora Avenue, Dar es Salaam
  2. Main Branch - Exim Tower, Dar es Salaam
  3. Mlimani Branch - Mlimani City, Dar es Salaam
  4. Samora Avenue Branch - 9 Samora Avenue, Dar-es-Salaam
  5. Kariakoo Branch - Morogoro Road, Dar es Salaam
  6. Namanga Branch - Namanga, Dar es Salaam
  7. Nyerere Road Branch - Nyerere Road, Dar es Salaam
  8. Temeke Branch - Chang'ombe, Dar es Salaam
  9. Ubungo Branch - Ubungo, Dar es Salaam
  10. Mwanza Branch - Kenyatta Road, Mwanza
  11. Arusha Branch - Goliondoi Road, Arusha
  12. Mount Meru Branch - Uhuru Road, Arusha
  13. Manyara Branch - Karatu, Arusha
  14. Moshi Branch - Boma Road, Moshi
  15. Tanga Branch - Independence Avenue, Tanga
  16. Zanzibar Branch - Mlandege Street, Zanzibar
  17. Morogoro Branch - Lumumba Road, Morogoro
  18. Mbeya Branch - Industrial Area, Mbeya
  19. Mtwara Branch - Tanu Road, Mtwara
  20. Iringa Branch - Iringa
  21. Shinyanga Branch - Shinyanga
  22. Tabora Branch - Tabora
  23. Karatu Branch - Karatu
  24. Kigoma Branch - Kigoma
  25. Kilimanjaro Branch - Moshi, Kilimanjaro
  26. Buguruni Branch - Buguruni, Dar es Salaam
  27. Babati Branch - Manyara
  28. Babati Mini Branch -Arusha
  29. Mwanakwerekwe Mini Branch- Zanzibar
  30. Ushirika Mini Branch - Ushirika Towers, Lumumba Street, Dar es Salaam
  31. Airport Branch - Julius Kambarage Nyerere International Airport, Dar es Salaam
  32. Dodoma Branch 1 - Dodoma
  33. Dodoma Branch 2 - UDOM College of Informatics, Dodoma

    Governance

The Chairman of the Board is Mr. Said Ally Mwema, a non-Executive Director. The Chief Executive Officer is Mr. Dinesh Arora, who is a non-shareholder.