Type Private Website Homepage Headquarters Dar es Salaam Parent organization NIC Bank | Industry Financial Services Total assets 110.3 million USD (2013) Founded 1994 | |
Key people Abdulsultan Hasham Jamal
Chairman
James Muchiri
Managing Director Products Loans, Checking, Savings, Investments, Debit Cards | ||
National Industrial and Commercial Bank Tanzania Limited, commonly known as NIC Bank Tanzania (NICBT) and formerly known as Savings and Finance Commercial Bank (SFCB), is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Contents
Overview
NICBT is a medium-sized financial services provider in Tanzania. Its total assets at the end of 2013 was approximately US$110.3 million. The bank is a subsidiary of NIC Bank of Kenya, which owns a 68.9 percent controlling shareholding.
History
NICBT started as a non-bank financial institution in 1994. In 2004, following the issuance of a banking license by the Bank of Tanzania, the institution converted into a fully fledged commercial bank, under the SFCB name. In May 2009, NIC Bank, a large financial services provider based in Nairobi and traded on the Nairobi Stock Exchange, took a 51 percent shareholding position in SFCB. During 2010, the Tanzanian subsidiary successfully re-branded to NICBT.
Ownership
As of June 2015, NIC Bank owns 69.84 percent of the stock of NICBT. The remaining shareholding is owned by other corporate entities and individuals, including the East African Development Bank.
NIC Bank Group
NIC Bank Kenya, together with its subsidiaries, which it owns wholly or partially, form the NIC Bank Group. The stock of the group is traded on the NSE under the symbol NINC.
Branch network
As of November 2014, the bank maintained branches at the following locations:
- Main Branch - Ohio Street, Dar es Salaam
- Samora Avenue Branch - Harbour View Towers, Samora Avenue, Dar es Salaam
- Arusha Branch - Central Plaza, Sokoine Road, Arusha
- Mwanza Branch - 5 Nyerere Road, Mwanza
- Kahama Branch - Kahama