National Bank of Commerce (Tanzania)

The headquarters of the bank and its main branch are located along Sokoine Drive, in Dar es Salaam, Tanzania's financial capital and largest city. The geographical coordinates of the bank's headquarters are: 06°49'04.0"S, 39°17'24.0"E (Latitude:-6.817778; Longitude:39.290000){{google maps|access-date=9 May 2018 | url=https://www.google.com/maps/place/6%C2%B049'04.0%22S+39%C2%B017'24.0%22E/@-6.8157121,39.267918,8705m/data=!3m1!1e3!4m5!3m4!1s0x0:0x0!8m2!3d-6.8177778!4d39.29 |title=Location of the Headquarters of National Bank of Commerce Tanzania Limited}}

It is one of the oldest banks in the country tracing its roots to as far back as Tanzanian independence.{{cite web| url=http://www.banks-tanzania.com/national-bank-of-commerce-bank-banks-tanzania.html|title=NBC Bank {{!}} NBC Bank Tanzania {{!}} NBC Bank Tanzania Africa {{!}} NBC Tanzania Africa {{!}} Banks|website=www.banks-tanzania.com|access-date=2016-08-09}} At the end of the year in 2015, the bank had an asset base of over US$773 million (TSh 1.69 trillion) and is the fourth-best capitalized commercial bank in the country, behind National Microfinance Bank, CRDB Bank and FBME Bank.{{cite web|url=http://www.businesstimes.co.tz/index.php?option=com_content&view=article&id=2948:tanzania-banks-total-assets-fell-in-3rd-quarter&catid=42:updates|title=Tanzania Banks' Total Assets Fell In Third Quarter |author=Times Reporter | date=13 December 2013 |publisher=Business Times (Tanzania) | access-date=29 October 2014}}

At the end of 2017, Tanzania's total banking assets were valued at TSh 29.97 trillion (US$13.2 billion).{{cite web| url=http://allafrica.com/stories/201802090708.html | title=Tanzania: Banks Performed Well in 2017, Study Shows | access-date=9 May 2018 |date=9 February 2018 |location=Dar es Salaam |first=Abduel |last=Elinaza |newspaper=Tanzania Daily News via AllAfrica.com}} At the same time, National Bank of Commerce (Tanzania) was reported to own 5.6 per cent of all national banking assets,{{cite web|access-date=9 May 2018 |url=http://www.thecitizen.co.tz/News/CRDB-rated-highly-in-assets-share-in-2017-/1840340-4294672-2nfkxfz/index.html | title=CRDB rated highly in assets share in 2017 |date=7 February 2018 |newspaper=The Citizen (Tanzania) |first=Rosemary | last=Mirondo |location=Dar es Salaam}} translating to TSh 1,768+ trillion (US$779+ million).

The bank traces its origins to 1967 when the Tanzanian Government nationalized financial institutions, including banks. In 1991, the banking industry was deregulated. Six years later, in 1997, the institution then known as "NBC" was split into three separate entities: (a) NBC Holding Corporation (b) National Microfinance Bank (NMB) and (c) NBC (1997) Limited. In 2000, the South African banking group, Absa Group Limited, acquired a majority stake in NBC (1997) Limited. The Government of Tanzania retained a 30% shareholding and the International Finance Corporation (IFC), a member of the World Bank Group took up 15% shareholding in the bank. The new entity became known as National Bank of Commerce (Tanzania) Limited.{{cite web|access-date=29 October 2014 | url=http://allafrica.com/stories/201410290346.html |first=Alvar |title=Tanzania: TSh22 Billion NBC Debt to ABSA Will Be Paid, BOT Affirms |newspaper=Tanzania Daily News via AllAfrica.com |last=Mwakyusa |date=29 October 2014}}

As of March 2016, Barclays Bank Plc. was seeking regulatory approval in Tanzania to merge this bank with Barclays Bank Tanzania in which Barclays maintains a controlling interest.{{cite web|access-date=12 March 2016 |date=12 March 2016 | url=https://www.theeastafrican.co.ke/business/Barclays-to-merge-Tanzania-units-not-split-Africa-business-/-/2560/3114130/-/item/1/-/iqnn1q/-/index.html |

title=Barclays to merge Tanzania units, says it will not split Africa business |last=Olingo |first=Allan |location=Nairobi | newspaper=The EastAfrican}}{{cite web|

url=https://kenyanwallstreet.com/barclays-national-bank-commerce-of-tanzania-to-combine-operations/ |title=Barclays & National Bank Commerce of Tanzania to combine operations |date=4 March 2016 |

author=Kenyan WallStreet |publisher=Kenyanwallstreet.com |

location=Nairobi}}

At the end of 2015, the bank maintained a shareholder's equity of approximately US$117.7 million (TSh 257 billion).{{Cite web|url=http://www.nbctz.com/cs/Satellite?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1367525232179&ssbinary=true|title=Balance Sheet, Income Statement & Cash Flow Statement|last=|first=|date=31 December 2015|website=nbc.co.tz|publisher=National Bank of Commerce|access-date=9 August 2016}} The current shareholding in NBC (Tanzania) is as depicted in the table below:{{cite web| url=http://www.businesstimes.co.tz/index.php?option=com_content&id=781:banking-in-tanzania-what-makes-nbc-ltd-different&Itemid=29|title=Banking In Tanzania: What Makes NBC Limited Different|first=Correspondent|last=Times|date=25 February 2011|access-date=29 October 2014|newspaper=Business Times (Tanzania)}}

{{Further|Absa Group Limited}}

Formerly known as Barclays Africa Group, is the largest consumer banking group in South Africa. It controls assets in excess of US$77 billion (ZAR:841.33 billion), as of June 2013.{{cite web |publisher=Barclays Africa Group | url=http://www.barclaysafrica.com/deployedfiles/Assets/Richmedia/PDF/SENS/2013/07.July/2013_interim_SENS_announcement_(Group).pdf#page=4 |title=Absa Group Limited: Unaudited Condensed Consolidated Financial Results For The Interim Reporting Period Ended 30 June 2013 |access-date=29 October 2014 | author=Absa | date=30 July 2013}} In addition to its vast businesses inside South Africa, the Group owns subsidiaries operating in various parts of Africa, including majority shareholding in businesses in Angola, Mozambique and Tanzania, as well as minority interests in businesses in Namibia and Zimbabwe. In 2013, Absa Group Limited re-branded to Barclays Africa Group. In 2018, it rebranded back to Absa Group Limited.{{cite web|access-date=9 May 2018 | url=http://allafrica.com/stories/201803020131.html |title=Kenya: Barclays Africa Group Set to Rebrand to Absa |date=1 March 2018 |publisher=98.4 Capital FM |first=Kennedy | last=Kangethe |

location=Nairobi}}

Francis Mwakapalila is the Chairman of the Board. The Managing Director of NBC (Tanzania) Limited is Theobald Sabi, who assumed the role following the departure of former Managing Director Edward Marks who was reassigned.{{Citation|title=Campbell, Colin Algernon, (1874–3 Jan. 1957), company director; former Director of Westminster Bank Ltd|date=2007-12-01|work=Who Was Who|publisher=Oxford University Press|doi=10.1093/ww/9780199540884.013.u235438}}{{Cite journal|last=Mwapachu|first=Juma Volter|date=October 1977|title=Control of Public Sector Enterprises in Tanzania: Case of the National Bank of Commerce|journal=Indian Journal of Public Administration|volume=23|issue=4|pages=970–990|doi=10.1177/0019556119770407|s2cid=168665647|issn=0019-5561}}

{{asof|August 2018}}, NBC Bank Tanzania maintains a branch network of 49 branches and numerous ATM's in most major cities and towns of the country.{{Cite web|url=http://www.nbctz.com/branches-atm-locator/index.html|title=Barclays {{!}} Branch / ATM Locator : National bank of Commerce|website=www.nbctz.com|access-date=2018-08-18}}

{{Portal|Banks}}

{{Columns-list|colwidth=22em|

• Barclays Africa
• NMB Tanzania
• Barclays Tanzania
• Tanzania Banks
• Tanzania Economy

}}

{{Reflist}}

• [http://www.nbctz.com NBC (Tanzania) Homepage]
• [http://www.dailynews.co.tz/index.php/business/48722-barclays-africa-split-won-t-change-activities-in-tanzania Barclays Africa: split won't change activities in Tanzania] As of 24 February 2017.
• [http://www.instagram.com/nbc_tanzania NBC Tanzania] on [http://www.instagram.com Instagram]

{{Absa|state=collapsed}}

{{Banks of Tanzania}}

{{Economy of Tanzania}}

{{Authority control}}

{{DEFAULTSORT:National Bank Of Commerce (Tanzania)}}

Category:Banks of Tanzania

Category:Dar es Salaam

Category:Economy of Tanzania

Category:Banks established in 1997

Category:1997 establishments in Tanzania