The People's Bank of Zanzibar Limited
Type100% Government Owned
IndustryFinancial services
Founded30th June, 1966
HeadquartersZIC Building, Mpirani, Zanzibar, Tanzania
Key people
Dr. Estella Ngoma
Chairwoman
Dr. Muhsin Salim
managing director
ProductsLoans, savings, checking, investments, debit cards, credit cards, mortgages, Islamic Financing
RevenueTSh 82,906,799,921/= (Dec 2020)
TSh 18,350,163,377/= (Dec 2020)
Total assetsTSh 752,829,295,205/= (Dec 2020)
Number of employees
501 (Dec 2020)
WebsiteCompany website

The People's Bank of Zanzibar (PBZ) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.[1]

Overview

As of June 2014, PBZ was a medium-sized financial institution, with total assets of approximately TSh 321.35 billion. At that time, the bank's shareholders' equity was about TSh 29.6 billion. The bank employed 236 full-time staff as of 30 June 2014.[2]

History

The bank was founded in 1966 by the government of Zanzibar. It functions as a retail bank, serving individuals, small and medium enterprises (SMEs), and large corporate clients. Initially, its service area was limited to the islands of Zanzibar and Pemba.

In April 2011, the bank opened a branch in Dar es Salaam on the mainland. As of May 2012, it planned new branches in Mwanza, Arusha, Mtwara, and Mbeya.[3]

In December 2011, the bank launched an Islamic bank window, in addition to the conventional banking services that it offers.[4]

Ownership

PBZ is wholly owned by the government of Zanzibar.

Branch network

As of November 2014, The Peoples Bank of Zanzibar Limited maintains 11 branches at the following locations:

  1. Malindi Branch - Near Ministry of Agriculture, Zanzibar Main Branch
  2. Chake Chake Branch - Chake-Chake, Pemba
  3. Forodhani Branch - Forodhani Park, Zanzibar
  4. Mwanakwerekwe Branch - Mwanakwerekwe, Zanzibar
  5. Mkoani Branch - Zanzibar Port Authority Building, Zanzibar
  6. Wete Branch - Ground Floor, Zanzibar Electricity Corporation Building, Zanzibar
  7. Mlandege Branch - Muzammil Building, Mlandege
  8. Kariakoo Branch - Opposite Kariakoo Main Market, Zanzibar
  9. Dar es Salaam Branch I - Mbagala, Dar es Salaam[5]
  10. Tazara Branch - Dar es Salaam, Junction of TAZARA
  11. Mtwara Branch - Mtwara[6][7]

See also

References

  1. ↑ BOT. "Directory of Commercial Banks Operating In Tanzania". Dar es Salaam: Bank of Tanzania (BOT). Retrieved 21 November 2014.
  2. ↑ PBZ (11 August 2014). "Statement of Financial Position As At 30 June 2014" (PDF). Zanzibar City: People's Bank of Zanzibar (PBZ). Retrieved 9 August 2016.
  3. ↑ Tongo, Michelle (1 May 2012). "People's Bank of Zanzibar To Roll Out Mobile Money Transfers". ItNewsAfrica.Com. Retrieved 21 November 2014.
  4. ↑ Mbogo, Steve (21 December 2011). "Zanzibar's People's Bank Opens Islamic Window". TheIslamicGlobe.Com. Retrieved 21 November 2014.
  5. ↑ PBZ (March 2012). "Audited 31 December 2011 Financial Report: Future Development Plans" (PDF). People's Bank of Zanzibar (PBZ). Archived (PDF) from the original on 2014-12-20. Retrieved 21 November 2014.
  6. ↑ Philemon, Beatrice (13 November 2014). "People's Bank of Zanzibar Targets Dar es Salaam, Mtwara". Dar es Salaam: IPP Media. Retrieved 21 November 2014.
  7. ↑ Mugarula, Florence (9 August 2016). "Tanzania: Samia Hails PBZ Bank for Opening Up More On Tanzania Mainland". Tanzania Daily News via AllAfrica.com. Dar es Salaam. Retrieved 9 August 2016.
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