People's Bank of Zanzibar explained

The People's Bank of Zanzibar Limited
Type:100% Government Owned
Foundation:30th June, 1966
Location:ZIC Building, Mpirani, Zanzibar, Tanzania
Key People:Dr. Estella Ngoma
Chairwoman
Dr. Muhsin Salim
managing director
Num Employees:501 (Dec 2020)
Assets:TSh  (Dec 2020)
Revenue:TSh  (Dec 2020)
Profit:TSh  (Dec 2020)
Industry:Financial services
Products:Loans, savings, checking, investments, debit cards, credit cards, mortgages, Islamic Financing

The People's Bank of Zanzibar (PBZ) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.[1]

Overview

, PBZ was a medium-sized financial institution, with total assets of approximately TSh 321.35 billion. At that time, the bank's shareholders' equity was about TSh 29.6 billion. The bank employed 236 full-time staff as of 30 June 2014.[2]

History

The bank was founded in 1966 by the government of Zanzibar. It functions as a retail bank, serving individuals, small and medium enterprises (SMEs), and large corporate clients. Initially, its service area was limited to the islands of Zanzibar and Pemba.

In April 2011, the bank opened a branch in Dar es Salaam on the mainland. As of May 2012, it planned new branches in Mwanza, Arusha, Mtwara, and Mbeya.[3]

In December 2011, the bank launched an Islamic bank window, in addition to the conventional banking services that it offers.[4]

Ownership

PBZ is wholly owned by the government of Zanzibar.

Branch network

As of November 2014, The Peoples Bank of Zanzibar Limited maintains 11 branches at the following locations:

  1. Malindi Branch - Near Ministry of Agriculture, Zanzibar Main Branch
  2. Chake Chake Branch - Chake-Chake, Pemba
  3. Forodhani Branch - Forodhani Park, Zanzibar
  4. Mwanakwerekwe Branch - Mwanakwerekwe, Zanzibar
  5. Mkoani Branch - Zanzibar Port Authority Building, Zanzibar
  6. Wete Branch - Ground Floor, Zanzibar Electricity Corporation Building, Zanzibar
  7. Mlandege Branch - Muzammil Building, Mlandege
  8. Kariakoo Branch - Opposite Kariakoo Main Market, Zanzibar
  9. Dar es Salaam Branch I - Mbagala, Dar es Salaam[5]
  10. Tazara Branch - Dar es Salaam, Junction of TAZARA
  11. Mtwara Branch - Mtwara[6] [7]

See also

External links

Notes and References

  1. Web site: Dar es Salaam . Directory of Commercial Banks Operating In Tanzania . 21 November 2014 . BOT . Bank of Tanzania (BOT).
  2. Web site: 9 August 2016 . 11 August 2014 . Statement of Financial Position As At 30 June 2014 . PBZ . People's Bank of Zanzibar (PBZ) . Zanzibar City.
  3. Web site: 21 November 2014 . 1 May 2012 . People's Bank of Zanzibar To Roll Out Mobile Money Transfers . Michelle . Tongo . ItNewsAfrica.Com.
  4. Web site: Zanzibar's People's Bank Opens Islamic Window . 21 December 2011 . 21 November 2014 . Steve . Mbogo . TheIslamicGlobe.Com.
  5. Web site: Audited 31 December 2011 Financial Report: Future Development Plans . https://web.archive.org/web/20141220063750/http://www.conventional.pbzltd.com/form/financial-statements-2011.pdf . live . 2014-12-20 . March 2012 . 21 November 2014 . PBZ . People's Bank of Zanzibar (PBZ) .
  6. Web site: Dar es Salaam. People's Bank of Zanzibar Targets Dar es Salaam, Mtwara . 21 November 2014 . 13 November 2014 . Beatrice . Philemon . IPP Media.
  7. Web site: 9 August 2016 . Tanzania: Samia Hails PBZ Bank for Opening Up More On Tanzania Mainland . 9 August 2016 . . Florence . Mugarula . Dar es Salaam.

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