Tanzania Postal Bank

The Tanzania Postal Bank Plc. is a licensed commercial bank in Tanzania and one has the roots of one of the oldest banking institutions in the country.[2] The bank traces its roots to the Tanganyika Post office Savings Bank, which then formed an entirely independent entity from the Tanzania Posts Corporation.[3] In 2017 the bank aimed to list itself on the Dar es Salaam Stock Exchange and officially transformed into a Public limited company.

TPB Bank Plc.
Government Owned
IndustryFinancial services
Founded1925
HeadquartersLAPF Towers
Bagamoyo Road
Dar-es-salaam, Tanzania
Key people
Sabasaba Moshingi (C.E.O)
ProductsLoans, savings, checking, investments, debit cards, credit cards, mortgages
Revenue TZS:118.32 billion (2018) [1]
TZS:12.72 billion (2018)[1]
Total assets TZS:562.35 billion (2018)[1]
Number of employees
888 (2018)
Websitewww.tpbbank.co.tz

History

Incorporation

In 1925 the Tanganyika Post Office Savings Bank Ordinance was passed by the British Colonial government that established the Tanganyika Post office Savings Bank. The bank became operational in just two years in 1927.[4]

Financial Sector Reform

After the government of Tanzania began financial sector reform following the end of Ujamaa economic policies in the country, the Tanzania Post office Savings bank was transformed into a separate entity, the Tanzania Postal Bank. The Tanzania Postal Bank Act No. 11 of 1991 created the bank as a separate entity from the Tanzania Posts and Telecommunications Corporation.[5] Since attaining its independence, the bank has provided services to a much larger population than before and it has begun to provide a profit to the government.

Public Limited Company

In 2015 the bank management declared that the bank will list the bank on the Dar es Salaam Stock Exchange, in order to raise capital to expand and automate the companies operations.[6] On January 19, 2017, the bank officially rebranded the company and Tanzania Postal Bank Limited changed its name to TPB Bank Plc.[7]

Mergers and Acquisitions

In 2018, the Bank of Tanzania merged Twiga Bancorp and Tanzania Women's Bank into Tanzania Postal Bank due to their poor performance. In June 2020, the central bank merged TIB Commerial limited into TPB. The merger is set to bring the total assets of the bank to over 1 Trillion Tanzanian shillings.[8]

Corporate Affairs

Ownership

As of December 2018 the banks ownership is split among four stakeholders.[1]

Tanzania Postal Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Government of Tanzania83.44
2Tanzania Posts Corporation7.61
3Revolutionary Government of Zanzibar2.91
4TP & TC Savings and Credit Society2.67
5Local Authorities Pension Fund (LAPF)2.35
6Workers’ CompensaƟ on Fund (WCF)1.02
TOTAL100.0

Tanzania Postal bank year ends on December of the year

2012 2013 2014 2015 2016 2017 2018
Total Revenue (TZS Billions) 31.10 38.48 53.22 74.49 91.67 106.8 118.3
Interest Income (TZS Billions) 20.87 26.60 34.75 49.43 66.81 83.0 96.0
Profit After Tax (TZS Billions) 4.07 4.74 6.77 8.27 10.81 12.7 12.7
Total Assets (TZS Billions) 167.3 200.8 297.8 370.7 400.8 458.3 562
Number of Branches 28 28 28 28
Number of Employees 444 454 574 660 700 718 888
Notes/sources [9] [9] [9] [10] [1] [1] [1]
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References
  1. "TPB PLC Annual Report 2018" (PDF).
  2. "Tanzania Postal Bank DIGITAL FINANCIAL INCLUSION THROUGH POPOTE" (PDF). Retrieved 19 January 2017.
  3. "Historical Background". www.postalbank.co.tz. Retrieved 2017-01-19.
  4. Elinaza, Abduel (2015-05-27). "Tanzania: Postal Bank to Go Public Next Year". Tanzania Daily News (Dar es Salaam). Retrieved 2017-01-19.
  5. "THE TANZANIA POSTAL BANK ACT, 1991" (PDF). Government of Tanzania.
  6. Mwakyusa, Alvar (2016-04-22). "Tanzania: Postal Bank in Upward Trend Gets Set for Listing At DSE". Tanzania Daily News (Dar es Salaam). Retrieved 2017-01-19.
  7. Anyimike, Anastazia. "TPB yaombwa unafuu wa mikopo". www.habarileo.co.tz (in Swahili). Retrieved 2017-01-19.
  8. "BoT merging struggling TIB with Tanzania postal Bank Plc". www.ippmedia.com. Retrieved 2020-06-02.
  9. "Tanzania Postal bank Annual Report 2014" (PDF). postalbank.co.tz/. Tanzania postal bank. Retrieved 19 January 2017.
  10. "Tanzania Postal bank Annual Report 2015" (PDF). postalbank.co.tz. Tanzania Postal Bank. Retrieved 19 January 2017.
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