List of banks in Tanzania A Comprehensive Guide

Tanzania has a well-established banking system with a wide range of commercial banks to choose from.

NMB Bank is one of the largest banks in Tanzania, with a network of over 230 branches across the country.

The bank offers a variety of services, including personal and business banking, loans, and investments.

CRDB Bank is another major player in the Tanzanian banking sector, with a strong presence in the country's major towns and cities.

It has a large customer base and offers a range of products and services, including credit cards, loans, and savings accounts.

Exim Bank is a specialized bank that provides trade finance and other banking services to businesses and individuals involved in international trade.

The bank has a strong reputation for its expertise in trade finance and has a significant presence in the Tanzanian market.

Commercial banks in Tanzania are numerous and diverse, with a range of domestic and international players.

There are over 30 commercial banks operating in Tanzania, including United Bank for Africa Tanzania Ltd and Ecobank Tanzania Ltd, both part of larger international groups.

Some commercial banks in Tanzania are state-owned, such as Azania Bank Plc and Tanzania Commercial Bank Plc.

Other notable commercial banks in Tanzania include Stanbic Bank Tanzania Ltd, part of Standard Bank Group, and KCB Bank Tanzania Ltd, part of KCB Group.

Here's a list of some commercial banks in Tanzania:

In Tanzania, financial institutions play a vital role in the country's economic growth.

The National Bank of Commerce (NBC) is one of the major financial institutions in Tanzania, offering a range of banking services to individuals and businesses.

Tanzania has a total of 30 commercial banks, with the National Microfinance Bank (NMB) being the largest bank in the country.

The Bank of Tanzania (BOT) is the country's central bank, responsible for regulating and supervising the banking sector.

The Tanzania Commercial Bank (TCB) offers a range of financial services, including loans, deposits, and foreign exchange services.

The Kenya Commercial Bank (KCB) has a significant presence in Tanzania, with numerous branches across the country.

Tanzanian Banks have a significant presence in the country, with the top 10 biggest banks by assets in 2022 being CRDB, NMB, NBC, DTB, PBZ, Stanbic, StanChart, Citi Bank, Absa, and TCB. CRDB topped the list with TZS 11.6 trillion in assets.

These large banks account for 55.2% of the branch network, with urban centers accounting for 51.6% of total branches. The number of bank branches and ATMs fell to 987 in 2022 from 990 in 2021.

The top 6 banks in Tanzania also include OneSafe, which offers a range of neo-banking services tailored for global businesses, including corporate cards, Web3 invoicing, and instant crypto to fiat conversions. OneSafe's unique features, such as multi-currency support and state-of-the-art security measures, make it an ideal choice for businesses seeking streamlined and secure financial operations.

Here are the top 3 microfinance banks in Tanzania:

CRDB Bank is a Tanzanian bank that offers a wide range of services for personal and business banking.

One of the key services CRDB Bank provides is personal and business banking services, including various types of accounts and loans.

These services cater to different customer needs, making it a comprehensive banking solution.

CRDB Bank also provides investment opportunities and insurance products tailored to different needs.

Investors and diaspora communities can benefit from the bank's specialized services, ensuring they receive the financial solutions they require.

Here are some of the services CRDB Bank offers:

NMB Bank offers a range of services for individual customers, including digital banking, loans, and investment products. The bank provides tools like EMI calculators and forex services to enhance customer experience.

They have comprehensive digital banking options, including mobile and e-banking. This allows customers to manage their accounts and perform transactions easily.

Their loan products cater to different needs, such as education loans and home loans. These loans can help customers achieve their financial goals.

Here are some of the services offered by NMB Bank:

Standard Chartered Bank offers a comprehensive range of services for both individual and corporate clients.

Their digital banking solutions, such as SC Mobile and Straight2Bank, make it easy to manage your finances on the go. These services are designed to be user-friendly and convenient.

The bank provides various types of accounts, including current, savings, and fixed deposits. This means you can choose the type of account that best suits your needs.

Standard Chartered Bank also offers personal loans and mortgage solutions for home ownership. This can be a great option if you're looking to purchase a home or need some extra funds for a big purchase.

Here are some of the key services offered by Standard Chartered Bank:

Stanbic Bank Tanzania offers a comprehensive range of personal banking services designed to meet individual needs. These services include various types of bank accounts, personal savings and investment options, and personal loans.

You can access your accounts and manage your finances through internet banking, mobile banking, and a dedicated banking app, ensuring convenience and flexibility. This means you can stay on top of your finances from anywhere.

The bank provides personal current accounts and savings options, flexible loan products, and insurance services. This makes it easier for you to save, borrow, and protect your finances.

Here are some key features of Stanbic Bank Tanzania's personal banking services:

In Tanzania, microfinance banks play a vital role in providing financial services to low-income individuals and communities.

FINCA Microfinance Bank Tanzania Ltd is one of the notable microfinance banks in the country, affiliated with FINCA International.

VisionFund Tanzania Microfinance Bank Ltd and Selcom Microfinance Bank Tanzania Ltd are also prominent players in the Tanzanian microfinance sector.

These microfinance banks offer a range of services, including loans, savings accounts, and insurance products, to help their clients improve their economic well-being.

Here are some of the notable microfinance banks in Tanzania:

National Bank offers a range of personal banking services, including current and savings accounts, personal loans, and home finance.

Their digital banking solutions provide convenient access to financial services, making it easy to manage your finances on the go.

The bank's online and mobile banking options allow you to check your account balances, pay bills, and transfer funds with just a few clicks.

National Bank also offers insurance services, giving you peace of mind and protecting your financial well-being.

Overall, National Bank is a one-stop-shop for all your financial needs, providing a wide range of services to suit your lifestyle.

In Tanzania, OneSafe is a notable player in the banking scene, offering a range of innovative services to global businesses.

OneSafe's neo-banking services include corporate cards, Web3 invoicing, and instant crypto to fiat conversions, making it a great choice for businesses looking for streamlined and secure financial operations.

Its multi-currency support and state-of-the-art security measures are particularly noteworthy features that set it apart from other banks.

OneSafe allows for instant conversions between cryptocurrencies like Bitcoin, Ethereum, and USDT, making it easy for businesses to manage their digital assets.

The bank also supports global payments in multiple currencies, including ACH and wire transfers.

Here are some key features of OneSafe's services:

Tanzania's banking sector is dominated by a few large players. CRDB is the largest bank in Tanzania by assets, with a staggering TZS 11.6 trillion (USD 4.9 billion) in 2022.

The top 10 banks in Tanzania by assets make up a significant portion of the market. CRDB, NMB, and NBC are the top three, with assets of TZS 11.6 trillion, TZS 10.2 trillion, and TZS 2.8 trillion respectively.

Large banks account for 55.2% of the branch network in Tanzania. This means that a significant number of branches are operated by these major players.

Urban centers are home to 51.6% of total bank branches in Tanzania. This is likely due to the higher population density and economic activity in these areas.

The number of bank branches and ATMs in Tanzania has been steadily decreasing, from 990 in 2021 to 987 in 2022. This is a relatively small decline, but it still indicates a trend towards fewer physical banking locations.