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 |
| Website | https://pbzbank.co.tz/ |
Overview
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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