| Tanzania Commercial Bank | |
| Type: | Government Owned |
| Location: | LAPF Towers Bagamoyo Road Dar-es-salaam, Tanzania |
| Key People: | Edmund B. Mndolwa Chairman Adam Mihayo CEO |
| Num Employees: | 925 (2019) |
| Assets: | TSh 1.37 trillion (US$570.36 million) (2023) |
| Net Income: | (aftertax) TSh 10.7 billion (US$4.5 million) (Q1 2024) |
| Industry: | Financial services |
| Products: | Loans, savings, checking, investments, debit cards, credit cards, mortgages |
| Website: | Homepage |
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 national banking regulator.[1]
In 1925 the Tanganyika Post Office Savings Bank Ordinance was passed by the British Colonial government that 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.[2] [3]
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.[4] Since attaining its independence, the bank has provided services to a much larger population than before and it has begun to provide a profit to the government.
In 2015 the bank management declared that the bank will list the bank on the Dar es Salaam Stock Exchange, in order to raise capital to expand and automate the companies operations.[5] On January 19, 2017, the bank officially rebranded the company and Tanzania Postal Bank Limited changed its name to TPB Bank Plc.[6]
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 is set to bring the total assets of the bank to over 1 trillion Tanzanian Shillings.[7]
In June 2021, the bank rebranded to Tanzania Commercial Bank, to reflect the national nature of the institution.[8] As of December 2023, the bank's total assets were valued at TSh 1.47 trillion (approx. US$570.36 million).[9]
The table below illustrates the shareholding in the stock of TPB Bank Plc, as of 31 December 2019.[10]
| 1 | Government of Tanzania | |
| 2 | Tanzania Posts Corporation | |
| 3 | Revolutionary Government of Zanzibar | |
| 4 | TP & TC Savings and Credit Society | |
| 5 | PSSSF | |
| 6 | Workers’ Compensation Fund (WCF) | |
| TOTAL | ||
TPB Bank Plc bank year ends on 31 December every year.
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||
|---|---|---|---|---|---|---|---|---|
| Total Revenue (TSh billion) | 31.10 | 38.48 | 53.22 | 74.49 | 91.67 | 106.8 | 118.3 | |
| Interest Income (TSh billion) | 20.87 | 26.60 | 34.75 | 49.43 | 66.81 | 83.0 | 96.0 | |
| Profit After Tax (TSh billion) | 4.07 | 4.74 | 6.77 | 8.27 | 10.81 | 12.7 | 12.7 | |
| Total Assets (TSh billion) | 167.3 | 200.8 | 297.8 | 370.7 | 400.8 | 458.3 | 562 | |
| Number of Branches | 28 | 28 | 28 | 28 | ||||
| Number of Employees | 444 | 454 | 574 | 660 | 700 | 718 | 888 | |
| Notes/sources | [11] | [12] | [13] |