Absa Bank Tanzania Limited

Absa Bank Tanzania Limited (ABT), formerly Barclays Bank Tanzania Limited, is a commercial bank in Tanzania and a subsidiary of South Africa-based Absa Group Limited. ABT is licensed by the Bank of Tanzania, the country's central bank and national banking regulator.[3]

Absa Bank Tanzania Limited
TypeSubsidiary of Absa Group Limited
IndustryBanking
Founded1925 (1925)
HeadquartersAbsa House, Ohio Street, Kivukoni, Dar es Salaam, Tanzania
Key people
Abdi Mohamed (Managing Director)[1]
Sabiha Gulam (Chief Operating Officer)[2]
ProductsLoans, Transaction accounts, Savings, Investments, Debit Cards
RevenueAftertax:US $650,000 (TZS:1.075 billion) (Q1:2013)
Total assetsUS$ 382 million (TZS:634.34 billion) (March 2013)
Number of employees
490 (2017)
ParentAbsa Group
WebsiteCompany website

Location

The headquarters and main branch of Barclays Bank of Tanzania Limited are located in Barclays House, along Ohio Street, in the city of Dar es Salaam, the financial capital and largest city of Tanzania.[4] The geographical coordinates of the bank's headquarters are: 06°48'40.0"S, 39°17'12.0"E (Latitude:-6.811111; Longitude:39.286667).[5]

Overview

BBT is a large financial services provider in Tanzanian, serving large corporations, small-to-medium enterprises, and individuals. As of March 2013, its total assets were valued at about US $382 million (TZS:634.34 billion).[6] As of December 2013, BBT had 87,000 customers and 42 automated teller machines, and maintained 24 networked branches.[7]

History

ABT was established in Tanzania in 1925. In 1967, it was nationalized and converted into the National Bank of Commerce, Tanzania's largest bank by assets. With the liberalization of the economy in the 1990s, Barclays Bank Plc re-entered the country, resuming business in 2000.[8]

As at March 2016, Barclays Bank Plc. was seeking regulatory approval in Tanzania to merge this bank with National Bank of Commerce (Tanzania) in which Barclays maintains 55% shareholding.[9]

Name change

In 2016, Barclays Africa Group (BAG) was owned 62.3 percent by Barclays Plc of the United Kingdom. In February that year, Barclays decided to downsize it shareholding in BAG, valued at £3.5 billion, then.[10] In December 2017, Barclays reduced its shareholding in BAG to 14.9 percent.[11]

In 2018, BAG re-branded to Absa Group Limited.Under the terms of that re-brand, Absa has until June 2020 to change the names of its subsidiaries in 12 African countries.[12]

In Tanzania, the re-brand concluded on 11 February 2020, when both the bank's legal and business names became Absa Bank Tanzania Limited.[13]

Branch network

As of November 2014, the bank maintained a network of 24 branches at the following locations:[14]

  1. Ohio Street Branch - Barclays House, Ohio Street, Dar es Salaam Main Branch
  2. Slipway Branch - Msasani, Dar es Salaam
  3. Magomeni Branch - Magomeni, Dar es Salaam
  4. Kinondoni Branch - Kinondoni Market, Dar es Salaam
  5. Mwenge Branch - New Bagamoyo Road, Dar es Salaam
  6. Mikocheni Branch - Old Bagamoyo Road, Mikocheni, Dar es Salaam
  7. Pugu Branch - Nyerere Road, Dar es Salaam
  8. Kisutu Branch - Morogoro Road at Libya Street, Kisutu, Dar es Salaam
  9. Buguruni Branch - Buguruni, Dar es Salaam
  10. Uhuru Street Branch - Uhuru Street, Kariakoo, Dar es Salaam
  11. Arusha Sopa Plaza Branch - Sopa Plaza, Serengeti Road, Arusha
  12. Arusha TFA Branch - TFA Shopping Center, Arusha
  13. Mkunguni Street Branch - Mkunguni Street, Kariakoo, Dar es Salaam
  14. Mbeya Branch - Mwanjelwa, Mbeya
  15. Morogoro Branch - Lumumba Road, Morogoro
  16. Moshi Branch - Mawenzi Road, Moshi
  17. Dodoma Branch - Madukani Road, Dodoma
  18. Iringa Branch - Iringa
  19. Mwanza City Centre Branch - Pamba Road, Mwanza
  20. Tanga Branch - King Street, Tanga
  21. Zanzibar Main Branch - Zanzibar State Trading Corporation Building, Zanzibar
  22. Zanzibar Darajani Branch - Darajani Kisiwandui, Zanzibar

See also

References
  1. Otiato Guguyu (28 April 2016). "Barclays Tanzania picks new chief executive". The EastAfrican. Nairobi. Retrieved 28 April 2016.
  2. BusinessWeek. "Company Overview of Barclays Bank Tanzania Limited". Bloomberg BusinessWeek. Retrieved 9 November 2014.
  3. Bank of Tanzania (30 June 2017). "The Directory of Banks and Financial Institutions Operating in Tanzania as at 30th June 2017" (PDF). Dar es Salaam: Bank of Tanzania. Archived from the original (PDF) on 27 January 2018. Retrieved 8 May 2018.
  4. Barclays Bank of Tanzania (8 May 2018). "Barclays Bank of Tanzania Limited: Head Office". Dar es Salaam: Barclays Bank of Tanzania. Retrieved 8 May 2018.
  5. Google (8 May 2018). "Location of the Headquarters of Barclays Bank of Tanzania" (Map). Google Maps. Google. Retrieved 8 May 2018.
  6. Corporate Digest, . (18 May 2013). "Barclays Bank Tanzania Manages To Cut Expenses". Corporate-Digest.Com. Retrieved 9 November 2014.CS1 maint: numeric names: authors list (link)
  7. Ndzamela, Phakamisa (9 June 2014). "Barclays To Keep Two Tanzanian Banks". Business Day (South Africa). Retrieved 9 November 2014.
  8. Barclays Bank Tanzania (2012). "Profile & History of Barclays Bank Tanzania". Barclays Bank Tanzania. Retrieved 9 November 2014.
  9. Olingo, Allan (12 March 2016). "Barclays to merge Tanzania units, says it will not split Africa business". The EastAfrican. Nairobi. Retrieved 12 March 2016.
  10. Martin Arnold and Patrick Jenkins (26 February 2016). "Barclays set to exit African business". The Financial Times. London. Retrieved 12 February 2020.
  11. Jan Cronje (1 December 2017). "Barclays to further reduce stake in Barclays Africa". Cape Town: Fin24.com. Retrieved 12 February 2020.
  12. Reuters (11 July 2018). "Barclays Africa returns to its SA roots with rebrand". Business Daily Africa. Retrieved 11 February 2020.
  13. The Guardian Tanzania (11 February 2020). "Barclays Officially Switches Name To Absa Bank Tanzania". Dar es Salaam: IPP Media Online. Retrieved 12 February 2020.
  14. Barclays Bank Tanzania, . "The Branch Network of Barclays Bank Tanzania". Barclays Bank Tanzania. Retrieved 9 November 2014.CS1 maint: numeric names: authors list (link)
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