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It is one of the banks licensed by the Bank of Tanzania, the national banking regulator. [1] The bank serves retail customers, corporate customer, and medium to large business enterprises. As of December 2011, it was the fifth-largest commercial bank in Tanzania, by assets, with an estimated asset base of US$793.1 million (TZS:1.24 trillion).
Mkombozi Commercial Bank Plc; Canara Bank Tanzania Ltd; Bank of Baroda Tanzania Ltd, part of Bank of Baroda Group; Stanbic Bank Tanzania Ltd, part of Standard Bank Group; Bank of Africa Tanzania Ltd, part of Bank of Africa Group; Habib African Bank Ltd, part of Habib Bank Group; KCB Bank Tanzania Ltd, part of KCB Group; Akiba Commercial Bank Plc
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Stanbic Bank building in Dar es Salaam, Tanzania. In 1995, the bank acquired the operations of the Meridien BIAO Bank and renamed it Stanbic Bank Tanzania Limited. [8] In September 2012, Stanbic Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created ...
The bank's headquarters are located on the 16th Floor, Mwanga Tower, New Bagamoyo Road in Kijitonyama in the city of Dar es Salaam, Tanzania. The geographical coordinates of this location are:6°46'34.0"S, 39°14'39.0"E (Latitude:-6.776111; Longitude:39.244167).
The Tanzania Postal Bank Act No. 11 of 1991 created the bank as a separate entity from the Tanzania Posts and Telecommunications Corporation. [5] 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.
The bank's name was changed from Grindlays Bank International (Kenya) Limited to Stanbic Bank Kenya Limited in 1993. [10] At the point of the merger, the bank was 96.31% owned by Standard Bank through Stanbic Africa Holdings Limited (SAHL) and the balance of 3.69% held by the Government of Kenya .
The headquarters of Akiba Commercial Bank are located at Amani Place, along Ohio Street, in the central business district of the city of Dar es Salaam, the financial capital and largest city in Tanzania. [5] The geographical coordinates of the bank's headquarters are: 06°48'42.0"S, 39°17'16.0"E (Latitude:-6.811667; Longitude:39.287778). [6]