Type Private Subsidiary Headquarters Dar es Salaam Number of employees 180 (2016) | Industry Financial Services Founded 1962 Parent organization Commercial Bank of Africa | |
 | ||
Key people Gift Shoko
Acting Managing Director and Acting CEO Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages Revenue Aftertax:US $1.56+ million (TZS:2.42+ billion) (2010) Total assets US $152.6 million (TZS:236.7 billion) (2010) | ||
Commercial Bank of Africa (Tanzania) (CBAT) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a member of the Commercial Bank of Africa Group, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, and Uganda.
Contents
Overview
CBAT serves the banking needs of individuals and businesses in Tanzania. Like its parent company in Kenya, the Commercial Bank of Africa, CBAT focuses on meeting the banking needs of large corporations, diplomatic missions, non-governmental organizations, and high-end private clients. As of September 2013, the bank's total assets were valued at approximately US $152.6 million (TZS:236.7 billion), with shareholders' equity of about US $11.24 million (TZS:17.43 billion).
History
The bank was founded in 1962 in Dar es Salaam. Branches were soon opened in Nairobi and Mombasa, Kenya and in Kampala, Uganda. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country. In July 2005, the Commercial Bank of Africa (CBA) acquired majority shareholding in First American Bank of Kenya, which at the time had a Tanzanian subsidiary called United Bank of Africa. In 2007, United Bank of Africa rebranded to Commercial Bank of Africa (Tanzania), returning the brand to the country since 1967. In January 2014, CBA opened its first branch in Uganda.
Ownership
CBAT is a wholly owned subsidiary of Commercial Bank of Africa, a large, privately owned commercial bank based in Nairobi, Kenya.
Branch network
As of November 2014, CBAT maintains branches at the following locations:
- Ohio Street Branch - Amani Place, Ohio Street, Dar es Salaam - Main Branch
- Samora Avenue Branch - PPF House, Samora Avenue at Morogoro Road, Dar es Salaam
- Nyerere Road Branch - Jamana House, Nyerere Road, Dar es Salaam
- Kariakoo Branch - Tropical Hotel, Narung'ombe Street, Dar es Salaam
- Kijitonyama Branch - 717-6 TTCL Building, Kijitonyama, Dar es Salaam
- Mbeya Branch - Soweto Area, Plot 41, Block O, Mbeya
- Mwanza Branch - Kenyatta Road, Mwanza
- Mtwara Branch - Tanu Road, Mtwara
- Arusha Branch - TFA Building, Fire Road, Arusha
- Moshi Branch - TTCL Building, Block A, Plot 96, Moshi
- Tunduma Branch - TTCL Building, Block I, Plot 56-2, Tunduma, Mbeya
Governance
Gift Shoko (spelling needs to checked) is the managing director and chief executive officer of CBAT.