ABSA Bank Tanzania Limited
Empowering Africa's tomorrow, together
Email:
talktous.tz@absa
Phone:
+255 (0)746 882 000
About Company
Company Video
ABSA Bank Tanzania Limited, formerly known as National Bank of Commerce (Tanzania) Limited, was founded in 2000 when Absa Group Limited acquired a majority stake in NBC (1997) Limited, after the Tanzanian government nationalized financial institutions in 1967 and the banking industry was deregulated in 1991.
- Origins:The bank’s history can be traced back to 1967 when the Tanzanian government nationalized financial institutions, including banks.
- National Bank of Commerce (NBC):In 1997, the institution, then known as “NBC,” was split into three separate entities: NBC Holding Corporation, National Microfinance Bank (NMB), and NBC (1997) Limited.
- Absa’s Acquisition:In 2000, Absa Group Limited, a South African banking group, acquired a majority stake in NBC (1997) Limited.
- Name Change:The new entity became known as National Bank of Commerce (Tanzania) Limited.
- Rebranding to Absa Bank Tanzania Limited:In Tanzania, the re-brand concluded on February 11, 2020, when both the bank’s legal and business names became Absa Bank Tanzania Limited.