KCB Bank Tanzania Limited – Overview, History and More

KCB Bank Tanzania Limited – Overview, History and More

About KCB Bank Tanzania LTD


To increase efficiency while increasing market share in order to become Africa’s chosen provider of financial solutions with a worldwide reach.


To be Africa’s chosen source of financial solutions with a worldwide reach.


To simplify your world to facilitate your progress.



KCB Bank Tanzania is optimistic and open to new experiences.


KCB Bank Tanzania makes judgments based on thorough research and analysis.


KCB Bank Tanzania members work together as a team and provide support to one another.


More than 120 Years of Progress

KCB Bank Tanzania boasts a rich tradition and history dating back to the 19th century. This article gives an overview of the bank’s journey since its inception.

Transfer to East Africa – KCB Bank Tanzania Branches


The National Bank of India opened another branch in India, following its success in Burma, Pakistan, Aden and Ceylon.

National Bank of India
National Bank of India


Zanzibar and the Pemba Islands became British protectorates in 1890, with Zanzibar having significant trading ties to India. British officers are in charge of all revenue.


The process of converting the bank into a Sterling firm began in 1866. Certain pioneers desired a Calcutta-only bank. Others desired that it be a global institution.


The bank was renamed the National Bank of India. A new branch was set up in Bombay, and a proposal to set up a London banking agency was sent to the directors.


The Banking Corporation of Calcutta City opened for business on 16 November 1863, at 1/1 Mission Row in Calcutta, following a request for investors to invest in a proposed bank.


The bank established a Nairobian branch at a modest tin shack following increased trading activities, like the opening of an Indian bazaar.


The Bank of India branch was established in Mombasa due to the growing trade and the opening of new interior trading posts by the Imperial British East Africa Company.

The Parsis, the Train, and the Nairobi Journey


KCB Bank Tanzania entered into a lucrative deal with Uganda Railway and became the sole banker in exchange for guaranteed interest rates on the railway’s provident funds.

Early Struggles with Currency Exchange


The credit rating agencies Moody’s and S&P gave KCB Bank Tanzania an international credit rating in 2015. The ratings are B+ and B1, respectively, and are comparable to Kenya’s sovereign grade. KCB M-PESA is a mobile-based account that is only available to M-PESA members. 5 million accounts were created during the year, with a total transaction value of KES 259 billion. Additionally, an Ethiopian Representative Office was Opened

The Rise of Grindlays and the National


In order to prepare for a new group of customers in the African market, the bank established extra branches upcountry and in Nairobi.


More branches were established at Cargen House, Nairobi and Karatina to replace the temporary branches.


KCB Bank Tanzania announced that on 1 January 1958, it would merge with Grindlays Bank to establish National Overseas and Grindlays Bank Limited.

Kenyatta’s Years


H.E. Odhiambo was appointed the first manager of the bank’s newly established branch in Siaya’a Ukwala.

The Birth of Kenya Commercial Bank


KCB Bank Tanzania established new headquarters, and the country’s economy was booming, with Sh2.2 billion profits recorded after payments.

The buildings used to set up the new 1977 headquarters currently house the Kenya National Archives.


KCB purchased the Kipande House, which was built in 1910 and designated as a national monument under the condition that no changes be made.


President Kenyatta selected John Michuki, a former P.S. of the Finance Ministry, as KCB Board chairman in 1971. P. B. Noble, the 1st general manager, previously managed the National and Grindlays Bank Limited in Kenya.


After purchasing all shares of the Pearl Assurance Company, KCB Bank Tanzania acquired Savings and Loan Kenya Limited as its subsidiary.


The Kenyan government agreed to hold 60% of the shares in July, renaming the bank Kenya Commercial Bank and adopting the slogan “Being Closer to people.

The Bank During the Moi Reign


KCB Bank Tanzania built a branch for special services and provided guaranteed cheques for current account customers.


KCB Bank Tanzania opened a sports complex in Nairobi’s Ruaraka neighbourhood. The bank also established a sub-branch at Sagana.


Over eighty banking officials attended KCB Bank Tanzania inaugural management seminar on banking at Eldoret town.

The Consolidation Period


To relieve congestion in banking hallways, KCB Bank Tanzania installs automated teller machines (ATMs) and forms a team to focus on e-commerce and internet banking.


The KCB VISA Card, which is accepted worldwide, as well as the domestically circulated KCB VISA Card, were both successfully launched by the bank.


Pre-tax profits climbed by 41.5 percent to Sh375 million, and the bank provided Sh260 million to the exchequer in dividends and taxes, while deposits reached Sh13.9 billion.


The bank offered an initial public offering (IPO) in collaboration with the Staff Pension Fund. Moreover, the bank began building the New Runda Estate and offering residences for sale.

Changing the Brand


KCB Bank Tanzania launched the Sh50 billion 2jiajiri youth employment initiative in 2016.


Martin Oduor-Otieno succeeds Terry Davidson upon his retirement.


KCB Bank Tanzania formed a collaboration with Western Union in August 2005, allowing the bank to offer money transfer services at all of its locations.


Benjamin Kipkulei, the bank’s chairman, declared his resignation in April 2003, only days before the AGM for the year. Susan Mudhune took over from Kipkulei.


Peter Nyakiamo, KCB chairman, stepped down and was replaced by Benjamin Kipkulei, a career diplomat who formerly served as Kenya Revenue Authority Chairman.


KCB Bank Tanzania Group Public company, a holding company not in operation, was established in 2016 to administer all KCB regional subsidiaries, including KCB Bank Tanzania, Kenya, South Sudan, Ethiopia, Burundi, Rwanda and Uganda. Other than KCB Insurance Agency and KCB Foundation, the company also owns KCB Capital and any associated firms.


With the inauguration of the KCB Bank Burundi in 2012, KCB finished its footprint in the Eastern African Region and saw its share price on the bourse double, passing the 1 billion USD capital ratio and achieving an incredible 11 per cent growth in its books.


KCB Bank Tanzania established a new branch in the newest nation in the world, South Sudan.


Gareth George was released, and Terry Davidson was hired after launching an aggressive asset disposal campaign that resulted in the sale of Kencom House to the pension fund of the bank for a billion shillings.

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