Dar es Salaam Community Bank – History, Ownership, Network and More

Dar es Salaam Community Bank (DCB), formally known as DCB Commercial Bank, although it is more generally known as DCB Bank, is a Tanzanian commercial bank. The Bank of Tanzania, Tanzania’s national banking regulator and central bank, has granted it a license.

Dar es Salaam Community Bank is a privately held, publicly listed microfinance bank that was founded to meet the banking requirements of the poorest residents of Dar-es-Salaam as well its surrounding areas. DCB received a national banking license in 2012, allowing it to expand its services across the country. The bank’s shares are traded on the Dar es Salaam Stock Exchange.

Dar es Salaam Community Bank overall asset base was valued at roughly USD85.7 million as of 2013 December. (TZS:143.97 billion). The bank’s stockholders’ equity was valued at around US$19 million at the time (31.98 billion TZS). Customer deposits totalled 80.3 billion TZS (about USD 47.8 million) as of December 31, 2013.

History

Dar es Salaam Community Bank was established in 2001 September. The Bank of Tanzania, the country’s banking regulator, granted DCB a temporary banking license in 2001 October. In 2002 April, DCB began offering banking services commercially. DCB was granted an unlimited banking license in 2003 to be a regional unit bank by the Bank of Tanzania, with services limited to the Dar es Salaam area. DCB’s stock was first listed on the DSE in 2008 through a first public offering. Dar es Salaam Community Bank got a nationwide commercial banking license in 2012 April, allowing it to extend its operations across the country. The bank changed its name to DCB Commercial Bank and started setting up branches outside of Dar es Salaam.

Ownership

The shares of the bank’s stock are traded on the DSE under the name Dar es Salaam Community Bank (DCB). The following business entities and individuals possess equity in the bank:

Dar es Salaam Community Bank Stock Ownership

Branch Network

DCB has branches in the following cities as of 2014 November:

Governance

An eight-member board of directors oversees Dar es Salaam Community Bank operations. The chairman is Paul Milyango Rupia, who is also among the non-executive directors. The managing director is Edmund  Mkwawa Pancras.

For more articles related to Financial Services in Tanzania, click here!