Top 10 Best Commercial Banks In Tanzania

There are many commercial banks in Tanzania. These include the National Bank of Commerce, Equity Group Holdings, Stanbic Bank Tanzania Limited, and others. Some of these banks have branches in other countries as well, such as Kenya and Uganda. This banks make Tanzania one of the fastest growing economies in the region and Tanzania is ranked among the top mid economies in the world.

Commercial banks in Tanzania are licensed by Central Bank of Tanzania and offer their customers a wide range of financial services such as savings and loans. The commercial banks in Tanzania can be classified into three main categories:

• Private Banks: Private banks are owned by individual shareholders, these banks offer all kinds of banking services to their customers.

• Public Banks: Public banks are owned by the government. They offer all kinds of banking services to their customers in addition to other financial services like insurance and credit cards.

• Cooperative Banks: Cooperative banks are owned collectively by their members. They offer all kinds of banking services to their members in addition to other financial services like insurance and credit cards.

Top 10 Best Commercial Banks In Tanzania

Below is the list of Top 10 best Commercial banks in Tanzania that you can consider opening an account with.

1. Stanbic Bank Tanzania

Stanbic Bank Tanzania is one of the largest commercial bank in Tanzania. It is a subsidiary of Standard Bank Group. The bank offers a wide range of banking products and services to individuals, small businesses and large corporations. Its services include savings accounts, current accounts, mortgages, loans, credit cards and insurance products.

Stanbic Bank Tanzania has offices in Dar es Salaam, Arusha and Mbeya cities among others. Most of its branches are located in the city of Dar es Salaam where it has a strong presence in the retail banking space.

2. KCB Bank Tanzania

KCB Bank Tanzania is one of the leading commercial banks in Tanzania. Headquartered in Dar es Salaam, KCB Bank Tanzania has a network of over 200 branches, over 15 ATMs and over 500 Agents spread across the country.

The bank offers a wide range of financial services including retail and corporate banking, investment banking, treasury services, trade finance and insurance broking. The bank has been operating in Tanzania since 1997.

In addition to its headquarters in Dar es Salaam, KCB Bank Tanzania also has branches in Mbeya, Arusha and Morogoro cities as well as branches within major Towns in Tanzania. KCB Bank is a is a subsidiary of Kenya Commercial Bank group with its routes in Kenya where it is dominant.

3. National Bank of Commerce Tanzania

NBC Ltd. is one of the largest commercial banks in Tanzania, with a network of 53 branches and 6 business centers strategically located in retail centres and other major towns across the country.

The bank has given its clients access to a global banking environment. Wherever you may be, NBC Ltd is the solution to all your banking requirements. Our services include Retail Banking, Corporate Banking and Treasury Products, Mobile Banking, Internet Banking as well as foreign exchange.

4. Exim Bank Tanzania Limited

Exim Bank Tanzania Limited is one of the most popular commercial banks in Tanzania. It is a subsidiary of Exim Bank Limited and has been operating in Tanzania since 1997. They offer a wide range of financial services to their clients including personal accounts, business accounts, loans and mortgages, insurance, and more.

The bank’s headquarters are located in Dar es Salaam but they have branches all over the country. The company’s vision is to provide quality services at competitive prices while creating value for its shareholders.

Exim Bank Tanzania Limited offers a range of products and services that include savings accounts, current accounts, loans (both personal and business), mortgage loans (personal), insurance, credit cards and much more.

5. Equity Bank Tanzania

Equity Bank Tanzania is a commercial bank that offers a wide range of financial services to its customers. It is one of the largest banks in Tanzania and has branches all over the country.

The bank was founded in 1991 and its shareholders include local business people, expatriates, and international investors. The bank has been able to maintain its position as one of the best commercial banks in Tanzania due to its excellent customer service, strong financial standing, and innovative products and services.

Equity bank has over 1500 branches in Tanzania, Uganda, Rwanda, Burundi, Kenya and South Sudan. The bank is headquartered in Dar es Salaam and has about 2500 employees serving over 3.5 million customers. the bank has its roots in Kenya.

6. ABSA Bank Tanzania

ABSA Bank Tanzania is another great commercial bank in Tanzania. They have a great reputation for providing high quality service to their customers, and they are known for their excellent customer service.

They are also very popular among Tanzanians because they offer a variety of financial services including loans, insurance and investments.

7. CRDB Bank Plc

CRDB Bank Plc is a leading, wholly-owned private commercial bank in Tanzania. CRDB Bank offers wholesale microfinance services through a network of over 60 branches country wide, ATMs, Depository ATMs, Mobile branches, Point of Sales (POS) terminals and scores of Microfinance partners institutions.

The Bank also operates through internet and Mobile banking services. Services also include PERSONAL banking, Accounts,Loans, Business Banking, Premier Banking, Insurance, Shop N Dine, Cash Back.

8. DCB Bank Plc

Dar es Salaam Commercial Bank (DCB Bank Plc) is a Tanzanian bank based in Dar es Salaam. It was founded in 2001, with the aim of providing financial support to local businesses and individuals.

The bank focuses on providing credit facilities and loans to its customers. In addition, it offers other banking services such as savings accounts, currency exchange services and insurance policies.

The bank has been listed on the Dar es Salaam Stock Exchange since September 2002. The bank has a network of over 17 branches across the country and over 250 ATMs.

9. Standard Chartered Bank Tanzania

Standard Chartered Bank Tanzania is one of the oldest banks in Tanzania and one of the top 5 banks in terms of assets, deposits and capital adequacy ratio.

The bank provides a wide range of financial services including retail, corporate and investment banking, global transaction banking, treasury services, asset management and insurance.

It is the largest bank in Tanzania by assets, with over $4 billion in assets as of 2017.

In addition to its headquarters in Dar es Salaam, Standard Chartered Bank Tanzania has branches in Mwanza and Arusha. The bank also operates branches in Kenya, Uganda, Zambia, Malawi and South Africa.

10. FBME Bank LTD

FBME Bank LTD is one of the most popular commercial banks in Tanzania. It has many branches and ATMs spread throughout the country, making it easy to find a branch near you. They offer a wide range of services and products including loans, mortgages, bank accounts and credit cards as well as deposits and investments.

The bank offers a variety of personal banking services such as:

– Checking Accounts

– Savings Accounts

– Credit Cards

– Mortgages

– Loans (Auto Loans, Student Loans, Personal Loans)

FBME takes pride in being able to provide custom-made solutions and services to both personal and corporate clients.

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