People's Bank of Zanzibar - History, Ownership, Network and More

People’s Bank of Zanzibar – History, Ownership, Network and More

The People‘s Bank of Zanzibar (PBZ) operates as a Tanzanian commercial bank. The Bank of Tanzania, Tanzania’s national regulator, and the central bank has granted it a license.

Type Fully government-owned
Founded June 30, 1966,
Industry Banking
Headquarters Mpirani, ZIC Building, Zanzibar
Products Savings, Loans, Checking, Debit Cards, Investments, mortages, Credit Card, Islamic Financing
Key people Chairwoman- Stella Ngoma, Managing Director- Dr Muhsin Salim
Net Income (Dec 2020) Tsh 18,350,163,477
Revenue (Dec 2020) Tsh 82,906,799,921
Employees 501
Total Income Tsh 752,829,295,205


People’s Bank of Zanzibar  was a mid-sized banking institution, owning assets of roughly Tsh 321.35 billion by June 2014. The shareholders’ equity of the bank was around Tsh: 29.6 billion at the time. As of June 30, 2014, the bank had 236 full-time employees.

People’s Bank of Zanzibar History

The Zanzibar government established the bank in 1966. It operates as a retail bank, catering to individuals, medium and small-sized businesses (SMEs), and major corporate clients. Its initial service region was restricted to the Pemba and Zanzibar islands.

The bank set up a Dar es Salaam branch in April 2011. It planned additional branches in Arusha, Mwanza, Mbeya, and Mtwara by May 2012.

Apart from the traditional banking services it provides, the bank introduced the Islamic bank window in December of 2011.

People’s Bank of Zanzibar Ownership

The Zanzibar government owns 100% of PBZ.

People’s Bank of Zanzibar Branches Network

The People’s Bank of Zanzibar swift code is PBZATZTZNWK. The bank had 11 branches in the following places by November 2014:

Owner City Address
Malindi Branch (Main Branch) Zanzibar Next to the Ministry of Agriculture
Mtwara branch Mtwara  
Tazara Branch Dar es Salaam TAZARA junction
Dar es Salaam Branch 1 Dar es Salaam Mbagala
Kariakoo Branch Zanzibar Opp. Kariakoo Main Market
Mkoani Branch Zanzibar Zanzibar Poart Authority
Mwanakwerekwe Branch Zanzibar Mwanakwerekwe
Forodhani Branch Zanzibar Forodhani
Chake chake Pemba Chake Chae
Mlandege Branch Mlandege Muzammil Building
Wete Branch Zanzibar Zanzibar Electricity Corporation

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