Industry Financial Services Number of employees 244 (2014) | Website Homepage Founded 1995 Type of business Private | |
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Key people William E. ErioChairmanCharles G. SingiliManaging Director Products Loans, Checking, Savings, Investments, Debit Cards Total assets US$171.8 million (TZS:299.5 billion) (June 2014) | ||
Azania Bank Limited, whose formal name is First Adili Bancorp Limited, and is commonly referred to as Azania Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania (BOT), the central bank and national banking regulator.
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Azania bank tvc long
Overview
Azania Bank is a medium-sized commercial bank that engages in retail banking, lease financing, foreign exchange transactions and import/export financing, as well the issuance of letters of credit. As of June 2014, the bank's total assets were valued at about US$178.1 million (TZS:299.5 billion). A that time, the bank's shareholders' equity was valued at approximately US$20.32 million (TZS:34.2 billion).
History
The bank was established in 1995, as First Adili Bancorp, by Tanzanian citizens, together with national pension funds and International financial institutions, including the East African Development Bank, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc.. Today, the main shareholders are Tanzanian pension funds and Tanzanian nations.
Ownership
As of November 2014, Azania Bank's stock is owned by the following corporate entities and individuals:
Branch network
Azania Bank has its headquarters in Dar-es-Salaam. As of May 2012, the bank maintains a network of branches at the following locations:
- Masdo Branch - Samora Avenue, Dar es Salaam
- Kariakoo Branch - Msimbazi Street, Dar es Salaam
- Tegeta Branch - Chief House, Tegeta, Dar es Salaam
- Mwenge Branch - Mwenge, Dar es Salaam
- Mwanza-Mwaloni Branch - Mwaloni Fish Market, Mwanza
- Mwanza-Nkrumah Branch - Nkrumah Street, Mwanza
- Kahama Branch - Kahama Central Business District, Kahama, Shinyanga District
- Arusha City Branch - Wapare Street, Arusha
- Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha
- Moshi Branch - Market Street, Moshi
- Mawasiliano Branch - Mawasiliano Towers, Sam Nujoma Road, Dar es Salaam Main Branch
- Geita Branch - Geita
- Katoro Branch - Geita
- Lamadi Branch - Simiyu
- Kagongwa Branch - Kahama
- TCRA Branch – Dar Es Salaam.
Governance
Azania Bank is governed by an eight-person Board of Directors of whom one is an Executive Director and seven are non-Executive. The Chairman of the Board is William E. Erio, one of the non-Executive Directors. The Managing Director of Azania Bank is Charles G. Singili. He is assisted by seven other managers in supervising the operations of the bank.