Type Public Industry Financial Services Founded 2001 | Traded as DSE: DCB Headquarters Dar es Salaam | |
Key people Paul Milyango Rupia
Chairman
Edmund Pancras Mkwawa
Managing Director Products Loans, Checking, Savings, Investments, Debit Cards Revenue Aftertax:US$2.2 million (TZS:3.7 billion (2013) Total assets 85.7 million USD (2013, TZS:143.97 billion) | ||
Dar es Salaam Community Bank (DCB), whose official name is DCB Commercial Bank, but is commonly referred to as DCB Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Contents
Overview
DCB is a private, publicly traded, microfinance bank, initially established to serve the banking needs of the poorest of the poor in the city of Dar-es-Salaam and its suburbs. In 2012, DCB was issued a national banking license, to extends its services nationwide. The stock of the bank is listed on the Dar es Salaam Stock Exchange. As of December 2013, the total asset base of DCB was valued at approximately US$85.7 million (TZS:143.97 billion). At that time, the bank's shareholders' equity was valued at about US$19 million (TZS:31.98 billion) Customer deposits at 31 December 2013 totaled TZS:80.3 billion (approximately US$47.8 million).
History
Dar es Salaam Community Bank was incorporated in September 2001. In October 2001, DCB received a provisional banking licence from the Bank of Tanzania, the national banking regulator. DCB commenced commercial banking services in April 2002. In 2003, the Bank of Tanzania issued DCB with an unrestricted banking license as a regional unit bank, whose services are restricted to serving the Dar es Salaam area only. In 2008, the stock of DCB was floated on the Dar es Salaam Stock Exchange through the issuance of an IPO. The stock trades under the symbol:DCB. In April 2012, the bank received a national commercial banking license, authorising DCB to expand its operations nationwide. The bank rebranded as DCB Commercial Bank and began to open branches outside Dar es Salaam.
Ownership
The shares of the bank's stock is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol:DCB. The bank's stock is owned by the following corporate entities and individuals:
Branch Network
As of November 2014, DCB maintains branches at the following locations:
- Main Branch - DCB House, Magomeni Mwembechai, Morogoro Road, Dar es Salaam
- Arnautoglu Branch - Arnautoglu Building, Mnazi Mmoja, Bibi Titi Road, Dar-es-Salaam
- Magomeni Branch - DCB House, Magomeni Mwembechai, Morogoro Road, Dar es Salaam
- Temeke Branch - Junction of Temeke Road & Evereth Road, Dar es Salaam
- Tabata Branch - Tabata Old Dampo Area, Dar es Salaam
- Mabibo External Branch - Garage Area, Mandela Road, Dar es Salaam
- Ukonga Branch - Aviation House, Banana Area, Nyerere Road at Kitunda Road, Dar es Salaam
- Chanika Branch - Chanika Road, Dar es Salaam
- Paul rupia branch- kariakoo msimbazi road, Dar es Salaam
- Benjamin Mkapa City Branch - Morogo Road, Dar es Salaam
Governance
The bank's activities are directed by an eight-person Board of Directors. Paul Milyango Rupia, one of the non-Executive Directors is the Chairman. Edmund Pancras Mkwawa, serves as the Managing Director.