Tanzania Commercial Bank – History, Rebrand, Commercial Services & More
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- 1 Tanzania Commercial Bank – History, Rebrand, Commercial Services & More
Tanzania Commercial Bank is a bank operating in Tanzania. The commercial bank was previously known as TPB Bank PLC (Tanzania Postal Bank). The country’s official banking sector regulator and central bank, the Bank of Tanzania, licenses and supervises the bank.
History of the Postal Bank Tanzania
The British colonial government passed the Post Office Savings Bank Law in 1925. The law created the Post Office Savings Bank in Tanganyika. Two years later, in 1927, the bank began operations.
Banking Sector Reform
After the Ujamaa economic policy ended in Tanzania, the Tanzanian government started banking sector reform. Subsequently, the Tanzania Post Office Savings Bank became a new entity known as the Tanzania Postal Bank. The bank was created by the Tanzania Postal Bank Act Number 11 of 1991 as a different organization from TP&TC. Since it became independent, it has served more customers than it had ever done before and has also begun making financial gains for the government.
PLC and Stock Exchange Listing
The management of the bank in 2015 disclosed that the bank would be listed on the Dar es Salaam Stock exchange to bring in capital to automate its operations and expand. The bank formally rebranded in January 2017, and its name was changed to TPB PLC.
Acquisitions and Mergers
The central bank merged two poor-performing banks (Tanzania Women’s Bank and Twiga Bancorp) into the bank in 2018. Also, in 2020, the bank of Tanzania merged TIB Commercial Bank with TPB. The bank’s total assets are set to hit over TSh 1 trillion with the merger.
The bank, in 2021, rebranded and became known as Tanzania Commercial Bank, a name that reflects the institution’s national nature. Its cumulative assets at the time had grown to more than 1 trillion TzS (approximately $346 million).
The table below shows TPB Bank PLC shareholding stock on 31st December 2019.
|1.||Workers’ Compensation Fund||1%|
|3.||TP and TC Credit and Savings Society||3%|
|4.||Zanzibar Revolutionary Government||3%|
TPB Bank’s year ends on 31st December every year.
|Total Revenue (in TzS billions)||118.3||106.8||91.67||74.49||53.22||38.48||31.10|
|Interest Income( in TzS billions)||96.0||83.0||66.81||49.43||34.75||26.60||20.87|
|Gain After Tax (in TzS billions)||12.7||12.6||10.81||8.27||6.77||4.74||4.07|
|Total Assets (in TzS billions)||562||458.3||400.8||371||298||200.8||167.3|
Other Important Things About the Former Tanzania Postal Bank
Tanzania Postal Bank Address
Head Office – Tanzania Postal Bank Dar es salaam
P. O. Box 9300
Phone Number: +011 255 22 211 0621/2
Fax Number: +011 255 22 211 4815
Tanzania Postal Bank Branches – https://www.tcbbank.co.tz/locator/en
Tanzania postal bank exchange rates – For today’s Tanzania postal bank exchange rate visit the homepage of the bank and refer to the right side of the page, there is a column listing exchange rates – https://www.tcbbank.co.tz/home/en
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