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Absa Bank Tanzania
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Absa Bank Tanzania
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.
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. 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).
ABT is a large financial services provider in Tanzanian, serving large corporations, small-to-medium enterprises, and individuals. As of March 2013[update], its total assets were valued at about TSh 634.34 billion (US$382 million). As of December 2013[update], the bank had 87,000 customers and 42 automated teller machines, and maintained 24 networked branches.
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.
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 (now Absa) maintains 55 percent shareholding.
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. In December 2017, Barclays reduced its shareholding in BAG to 14.9 percent.
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.
In Tanzania, the re-brand concluded on 11 February 2020, when both the bank's legal and business names became Absa Bank Tanzania Limited.
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Absa Bank Tanzania
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.
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. 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).
ABT is a large financial services provider in Tanzanian, serving large corporations, small-to-medium enterprises, and individuals. As of March 2013[update], its total assets were valued at about TSh 634.34 billion (US$382 million). As of December 2013[update], the bank had 87,000 customers and 42 automated teller machines, and maintained 24 networked branches.
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.
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 (now Absa) maintains 55 percent shareholding.
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. In December 2017, Barclays reduced its shareholding in BAG to 14.9 percent.
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.
In Tanzania, the re-brand concluded on 11 February 2020, when both the bank's legal and business names became Absa Bank Tanzania Limited.
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