Bancabc Tanzania

OUR PEOPLE, OUR SOURCE OF FRESH THINKING AND SMART BANKING The Bank commenced operations in 1996 as an asset financing institution under the joint ownership of CDC Capital Partners (CDC), International Finance Corporation (IFC), TDFL and the Union Dominions Corporation (UDC). Following the merger of UDC with First Merchant Bank and BARD Investment Services, and the subsequent re-branding as African Banking Corporation, ABC Holdings Limited (ABCH) listed on the Botswana (primary) and Zimbabwe (secondary) Stock Exchanges. The Bank in Tanzania was granted full commercial banking status by the Bank of Tanzania in 2002. In 2004, the ABCH Group successfully concluded the acquisition of a 68% interest in Tanzania Development Finance Company Ltd (TDFL) from the existing international shareholders, i.e. IFC, CDC, DEG, FMO and EIB. The Government of Tanzania has remained a key shareholder (32%) in TDFL. The operations of Capital Finance Limited, the operating arm of TDFL were merged with the Bank. BancABC operated as a merchant bank since 2002 and introduced retail banking operations in 2008. The Bank opened its first branch in March 2010 and aims to rollout more branch outlets in various parts of the country. BancABC now offers a full bouquet of banking services for its corporate and personal customers.