Tanzania Commercial Bank, formerly known as TPB Bank Plc, is a commercial bank in Tanzania. It is licensed and supervised by the Bank of Tanzania, the central bank, and the national banking regulator.
History
Incorporation In 1925, the Tanganyika Post Office Savings Bank Ordinance was passed by the British Colonial government, which established the Tanganyika Post Office Savings Bank. The bank became operational in just two years in 1927. There were plans to list the shares of the bank on the Dar es Salaam Stock Exchange, but those plans never materialized.
Financial sector reform After the government of Tanzania began financial sector reform following the end of Ujamaa economic policies in the country, the Tanzania Post office Savings Bank was transformed into a separate entity, the Tanzania Postal Bank. The Tanzania Postal Bank Act No. 11 of 1991 created the bank as a separate entity from the Tanzania Posts and Telecommunications Corporation. Since attaining its independence, the bank has provided services to a much larger population, and it has begun to provide a profit to the government.
Public limited company In 2015, the bank management declared that the bank would list the bank on the Dar es Salaam Stock Exchange, to raise capital to expand and automate the company's operations.
On January 19, 2017, the bank officially rebranded the company, and Tanzania Postal Bank Limited changed its name to TPB Bank Plc.
Mergers and acquisitions In 2018, the Bank of Tanzania merged Twiga Bancorp and Tanzania Women's Bank into Tanzania Postal Bank due to their poor performance. In June 2020, the central bank merged TIB Commercial Bank Limited into TPB. The merger was set to bring the total assets of the bank to over 1 trillion Tanzanian shillings.
Overview In June 2021, the bank rebranded to Tanzania Commercial Bank, to reflect the national nature of the institution. As of December 2023, the bank's total assets were valued at TSh 1.47 trillion (approx. US$570.36 million).
Corporate affairs
Ownership The table below illustrates the shareholding in the stock of TPB Bank Plc, as of 31 December 2019.
+ TPB Bank stock ownershipRank Name of ownerPercentage ownership1Government of Tanzania2Tanzania Posts Corporation3Revolutionary Government of Zanzibar4TP & TC Savings and Credit Society5PSSSF6Workers' Compensation Fund (WCF) Total
Business trends TPB Bank Plc bank year ends on 31 December.
2012 2013 2014 2015 2016 2017 2018 Total revenue (TSh billion)31.1038.4853.2274.4991.67106.8118.3Interest income (TSh billion)20.8726.6034.7549.4366.8183.096.0 Profit after tax (TSh billion)4.074.746.778.2710.8112.712.7Total assets (TSh billion)167.3200.8297.8370.7400.8458.3562 Number of branches28282828Number of employees444454574660700718888 Notes/sources
See also
List of banks in Tanzania
References
External links Official website