If you’re looking for best commercial Banks in Tanzania (2023 – 2024), then you have to know that Tanzania is home to a number of banks that offer a wide range of services to individuals and businesses. Choosing the right bank can be a challenging task, especially with so many options available. To help you make an informed decision, here is our list of the top banks in Tanzania according to The Listtz:
TABLE OF CONTENTS
CRDB Bank
CRDB Bank is one of the largest and most well-known banks in Tanzania. It offers a wide range of financial products and services, including retail and corporate banking, microfinance, and investment banking. The bank has a strong presence across the country, with over 300+ branches and 3,000+ ATMs.
NMB Bank
NMB Bank, formerly known as National Microfinance Bank, is a leading commercial bank in Tanzania. It offers a range of financial products and services, including retail and corporate banking, microfinance, and investment banking. The bank has a strong presence across the country, with over 200 branches and 2,500 ATMs. NMB Bank is known for its commitment to financial inclusion and for supporting small and medium-sized enterprises. In addition, the bank has won several awards for its innovative products and services, including being named the “Best Bank in Tanzania” by Global Finance magazine.
National Bank of Commerce (NBC)
NBC is another major player in the Tanzanian banking sector. It offers a wide range of banking services, including deposit-taking, lending, foreign exchange, and payment services. The bank has a network of over 100 branches and 350 ATMs across the country.
Standard Chartered Bank
Standard Chartered is a global bank with a strong presence in Tanzania. It offers a range of banking services, including personal and business banking, wealth management, and corporate finance. The bank has a network of over 20+ branches and ATMs across the country.
Commercial Bank of Africa (CBA)
CBA is a leading bank in Tanzania that offers a range of financial products and services, including retail and corporate banking, investment banking, and wealth management. The bank has a network of over 30 branches and 100 ATMs across the country.
Exim Bank Tanzania
Exim Bank Tanzania is a commercial bank in Tanzania that offers a range of financial products and services to individuals and businesses. The bank was established in 1997 as a specialized export-import bank with the aim of promoting foreign trade and investment in Tanzania.
Exim Bank Tanzania offers a range of banking services, including deposit-taking, lending, foreign exchange, and payment services. The bank has a network of branches and ATMs across the country, and also offers online and mobile banking services.
Bank of Africa
Bank of Africa is a pan-African bank with a strong presence in Tanzania. It offers a range of banking services, including personal and business banking, trade finance, and investment banking. The bank has a network of over 20 branches and ATMs across the country.
Tanzania Banks FAQs
What are Commercial banks in Tanzania
Commercial banks in Tanzania are the most common type of bank in Tanzania. They offer a range of financial products and services to individuals and businesses in Tanzania, including deposit-taking, lending, and payment services. Commercial banks in Tanzania may also offer specialized services, such as investment banking and wealth management.
What are Investment banks in Tanzania
Investment banks in Tanzania are financial institutions that specialize in providing a range of services to companies, governments, and other institutions. These services may include underwriting new securities, facilitating mergers and acquisitions, and providing financial advice.
What is Central banks
Central banks are responsible for managing a countries monetary policy and regulating the financial system. They may also act as a lender of last resort to commercial banks, and may serve as a government banker.
Best Commercial Bank in Tanzania
According to EuromonÂey Magazine, CRDB Bank Plc is the best Tanzania Bank 2022 - 2023. The lender underscores its sheer size of Sh9.4 trillion balance sheet as its economic booster besides financÂing key sectors of economy such as; agriculture, infrastructure, industriÂalization and tourism, among others.
Which bank is the good in Tanzania
According to statista, CRDB Bank was perceived the most as a brand representing good quality among bank institutions in Tanzania as of May 2022. Over 80 percent of the surveys respondents rated CRDB Bank as a good quality institution.
What is the biggest bank in Tanzania
According to Statista, CRDB Bank Plc is the largest commercial bank in Tanzania, according to its total assets. Largest banks in Tanzania as of 2021, by total assets (in billion Tanzania shillings).
In conclusion, the top banks in Tanzania are CRDB Bank, NMB Bank, National Bank of Commerce, Standard Chartered Bank, Commercial Bank of Africa, Exim Bank, and Bank of Africa. These banks offer a wide range of financial products and services, and have a strong presence across the country.
