Equity Bank Tanzania Limited Full Information and Details

Equity Bank Tanzania Limited is a subsidiary of Equity Group Holdings, a leading financial services conglomerate in Africa. It was established in 1994 and has since grown to become one of the largest banks in Tanzania.

The bank offers a wide range of financial services to individuals, businesses, and governments, including savings accounts, loans, credit cards, and insurance products. Its services are designed to meet the diverse needs of its customers.

Equity Bank Tanzania Limited has a strong presence in the country, with over 100 branches and a large network of agents. This makes it easily accessible to its customers across the country.

Equity Bank Tanzania Limited has been involved in a notable legal case, with Johnelly TZ (Johnelly TZ Company Limited) losing a case against the bank over a Sh290 million loan in 2018.

The Court of Appeal ruled in favor of Equity Bank Tanzania Limited, stating that the bank did not breach the contract. This decision marks the second time Johnelly TZ has lost a case against the bank concerning a loan dispute.

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You can send international money transfers to Equity Bank Tanzania Limited using their SWIFT code, EQBLTZTZ. However, it's recommended to double-check with the bank to ensure the transfer is processed smoothly.

Equity Bank Tanzania Limited has a significant presence in the country, with a total asset value of US$143.42 million as of September 2014.

A SWIFT code is required to send an international money transfer over SWIFT. This code is crucial for a smooth transaction.

You can use the first 8 symbols of the SWIFT code without the branch code for a SWIFT funds transfer, but it's always a good idea to double check with the bank.

Most banks rely on their own or centralized reference data (SWIFTref) to process payments, so you can often send SWIFT payments without specifying correspondent banks.

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Equity Bank Tanzania Limited has made significant strides in the country's banking sector. As of September 2014, the bank owned total assets valued at US$143.42 million.

The bank's customer deposits stood at US$107.68 million, and its loan book was valued at US$87.1 million. Equity Bank Tanzania Limited was the leading originator of mortgage loans in Tanzania, accounting for an estimated TSh 96 billion (approx. US$45 million) in total mortgage loans.

This translates to about 20 percent market share of all mortgage loans in the country. By 2019, Equity Group Holdings Limited had begun talks to acquire four banks in Tanzania, Rwanda, Zambia, and Mozambique from Atlas Mara.

The deal was valued at KSh 10.6 billion (US$965 million), but was eventually dropped. By December 2020, Equity Bank Tanzania Limited recorded a total value of $162 million (KSh 17.8 billion) in customer deposits.

Its loan book was worth $138 million (KSh 15.2 million), and asset value was worth $259 million (KSh 28.5 billion).

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