You are here:Skip Navigation Links Home About Us

About Us

Bank M Tanzania Limited (Bank M) is a fully fledged commercial bank regulated by the Bank of Tanzania. The Bank was issued a license to undertake banking business in the United Republic of Tanzania by the Bank of Tanzania in February 2007 and opened its doors for business in July, 2007.

The Bank has been incorporated vide Certificate of Incorporation No. 59365 with an authorized share capital of TZS 100 Billion and currently has a Paid-Up Capital (PUC) of TZS 32.808 Billion. The PUC of the bank is 119 % higher than the minimum mandated PUC stipulated by the Bank of Tanzania.

Bank M was promoted by two financial services professionals who had been, till 2006, working as the Chief Executive Officers of a Commercial Bank and Insurance Company in the United Republic of Tanzania. Additionally, the Bank has, as investors, three leading business groups based in Tanzania, with wide ranging trading, manufacturing and real estate business interests in the East African region. The Bank also has investment from the principal partner and founder of the largest law firm in the country. PRIDE, the largest Micro-finance institution in East Africa, is also a share-holder of the bank.

 
Shareholders

The shareholder/investor profile of Bank M is as follows:

Names of shareholders No. of shares held Amount in TZS Stock options for number
of Equity Shares held
Sanjeev Kumar 14,507,585 5,803,034,000.00 4,861,490
Bhaskar Nair 9,761,267 3,904,506,800.00 154,662
Sean Patrick Breslin 16,020,016 6,408,006,400.00  
Vimal Mehta 22,076,011 8,830,404,400.00  
Shilpa Mehta 4,686,902 1,874,760,800.00  
PRIDE Tanzania Limited 4,762,237 1,904,894,800.00  
Africarriers Limited 15,162,373 6,064,949,200.00  
Equity & Allied Limited 16,764,105 6,705,642,000.00  
Noble Azania Investments Limited 10,059,370 4,023,748,000.00  
Shiva Sanjeev Kumar 1,962,440 784,976,000.00  
Gissings Directors Pension Scheme 3,401,167 1,360,466,800.00  
Ramesh Patel 4,494,718 1,797,887,200.00  
Caitrin Breslin 1,226,172 490,468,800.00  
Simon & Roisin Gregory 6,130,778 2,452,311,200.00  
Sumaria Properties Limited 6,711,545 2,684,618,000.00  
TOTAL 137,726,686 55,090,674,400.00 5,016,152
 
Board of Directors

Hon’ble Nimrod Mkono, the managing partner of Mkono & Co., is the Chairman of the Board of Directors of the Bank. The Corporate Shareholders of the bank are represented by the respective Chairmen of their group holding companies. The Board has representation from prominent Tanzanians as well as non-executive independent outside directors. The following are the members of the board of Directors of the bank.

Hon. Nimrod Mkono M.P.

Hon. Nimrod Mkono M.P. is the Chairman of the Board of Directors of the bank. One of the leading lawyers in the Eastern African region, Hon. Mkono is the founding partner of Mkono & Co., the largest law firm in the country. Hon. Mkono is also a member of Tanzania’s parliament.

Hon. Iddi Simba

Hon. Iddi Simba is the Chairman of PRIDE, the largest Micro Finance Company in Eastern Africa. A well known public figure serving on the boards of several large corporations within the region, Hon. Simba has also served as the Minister for Industries of the United Republic of Tanzania.

Fida Hussein Rashid

Fida Hussein Rashid is the Chairman of the Africarriers Group, which is the largest importer of automobiles in the Eastern African region. The group also has a very big presence in the real estate business and owns one of the largest collections of luxury villas and apartments in the region.

Vimal Mehta

Vimal Mehta is the Chairman of the Negus Group of companies. The group has controlling interest in Serengeti Breweries Limited, the second largest brewing company in Tanzania.

Sean Patrick Breslin

Sean Patrick Breslin is the founder director of Gissings Limited, a pension advisory firm based in the City of London and regulated by the Financial Services Authority (FSA) of UK.

Ramesh Patel

Ramesh Patel is a leading business personality in Tanzania and is the Chairman of the Automech Group of companies having interests in construction, fabrication and related industries.

 
Business Plan

Bank M is a focused Corporate & Investment Bank (CIB), targeting the upper end Mid-Market and Corporate Enterprises in Tanzania, both in the manufacturing and trading sectors. The CIB concentrates with a niche banking offer in the Corporate Banking and Markets (with special emphasis on debt and forex) business. Additionally, the CIB has an investment banking capabilities to handle advisories on debt/equity capital raising as well as debt syndication and M&A. Bank M is shortly going to launch a subsidiary Private Banking Business Group to advise and manage the wealth of the high net worth promoters of the clients of the CIB.

The cornerstone of the business plan of the CIB of Bank M is based on the liquidity intensive nature of the local manufacturing and trading businesses and therefore, offers innovative delivery channels and products through highly skilled teams of customer care and relationship managers. The Bank has a cautiously aggressive business acquisition strategy balancing growth needs with credit quality. Based on this strategy, Bank M is now amongst the top ten banks in the country. The five year composite business plan of Bank M envisages it’s growth organically as well through acquisitions within Tanzania and in the promising neighboring countries like Uganda, Zambia, Rwanda etc: and it’s eventual emergence as a leading Regional Bank in Sub-Saharan Africa.

 
Technology

Technology is the backbone of the financial services industry. Our bank has been able to develop innovative products, services and delivery channels by investing substantially into acquiring the latest in banking technology hardware and software.

The bank had acquired and implemented in 2007 the latest version of “Flexcube” as our Core Banking Solution (CBS) from Oracle Financial Services Software Limited (OFSSL) , which is currently the largest selling banking software application in the world.

The interbank cheque clearing system of the bank is driven by the latest iTran 3000t image processing transport from NCR, which was the first of it’s kind to be installed by any bank in the Eastern African region.

Bank M became one of the first in the region to launch Straight-Through-Processing for its funds transfer business by acquiring the Electronic Messaging Service (EMS) from OFFSL.

Bank M has implemented it’s state-of-the art Internet Banking solution, which has been developed by OFFSL. The Website of the Bank has also been developed by OFFSL.

Recently, we became the first Bank in the country to migrate our email platform to the Cloud, using the backbone provided by Google Apps.

The Primary and Disaster Recovery sites of the Bank have adequate fail back systems in place and are powered by back-up generators, having an additional dedicated back-up for the back-up generator. This is in addition to the entire ICT network of the bank being backed up with Uninterrupted Power Supply Systems (UPSS) in Hot Sync Redundant Configuration powered by the latest in UPS technology from Powerware, the global leaders in the business.

While the main servers of the Bank have been provided by HP, the storage devices are from NetApp in RAID 5 configuration. NetApp are global leaders in storage devices. As could be seen, the Bank has invested well into Technology, which is now providing us the backbone to provide unmatched services to our clients and thereby, emerge, steadily, but surely, as the market leaders in the business.

 
People

People make the difference in the financial services business. We, at Bank M, wholeheartedly subscribe to this truism. With this understanding, we have put together a team of exceptionally high caliber personnel with strong corporate banking and relationship management skill sets. The executive management team of the bank comes with substantial international exposure acquired in large Multi National Banks across various continents.

 
Locations

The three most important words for success in the financial services business are Location, Location and Location. In order to be as close to our customers as possible, our first branch was opened at Plot No. 27/28, Nyerere Road in the Industrial Area of Dar es Salaam followed by a branch in City Centre and a third branch at the trading hub of Kariakoo. All three locations cater to the active manufacturing, Trading and business areas of the city of Dar es Salaam. The first upcountry branch was opened in Arusha in August 2010 and the second upcountry branch was opened at Mwanza in July 2011. The Head Office of the Bank is located at 8, Ocean Road in downtown Dar es Salaam.

 
Money. Round the clock

The cornerstone of the business plan of Bank M is based on the liquidity intensive nature of the local manufacturing and trading businesses and therefore, offers innovative delivery channels and products through highly skilled teams of customer care and relationship managers. Money round the clock is an innovative packaged delivery channel, which ensures that we are a bank geared to provide the customer with an unparalleled 24*7 banking experience.

Provided hereunder is a brief listing of the component products and services of Money Round the Clock”.

 
Money. 8 am to 8 pm

Cash being an important component of the payment system, Corporate & Institutional customers have the flexibility of being able to process cash transactions during the 12 hour period that we are open each day. This facility, in addition to reducing the risk of carrying cash, facilitates them with better treasury management capabilities which would help them in better funds management and lower interest costs.

 
Money. Sunday to Sunday

Cash being an important component of the payment system, Corporate & Institutional customers have the flexibility of being able to process cash transactions during the 12 hour period that we are open each day. This facility, in addition to reducing the risk of carrying cash, facilitates them with better treasury management capabilities which would help them in better funds management and lower interest costs.

 
Money. Safe

In case of any emergent cash banking requirement after 8 pm, our Money Safe” service, which is a well secured Night Safe facility, would be capable of managing the need. When a customer subscribes to this service, we would provide them with secure cash boxes with specially prepared bank seals, which are tamper proof and a combination key allowing access to our Night Safe.

 
Money. Mann

We will, under this service, pick up and deliver cash from/ to the client’s offices in Dar es Salaam. We use armoured vehicles on long lease arrangements with Ultimate Security Limited (Ultimate), the largest Security service provider in Tanzania.

 
Money. Mail

All non- cash banking documents i.e. cheques for deposit, application for Letters of Credit/ Telegraphic Transfers etc: can be picked up and/ or delivered from/ to the client’s office using our “Money Mail” service. For the pick up and delivery, we use the services of both in-house and outsourced couriers from companies of impeccable repute. In order to ensure security and confidentiality, the couriers are specially trained to use our “Money Mail” bags, which are secured with specially prepared bank seals.

 
Money. Back Guarantee

Bank M aims to be a focused corporate bank with unparalleled processing skills and customized customer-focused products. In order to be such a bank, we have the People, the Products and the Delivery Channels to bring to the customer banking with precision and comfort at a time and place of their choice. So confident are we of our delivery skills that we are the first bank in the African continent to offer our customers Service Standard Guarantees (SSG) aptly branded Money Back Guarantee”. What it means is that we will, at all times deliver what we have promised, within the time we have promised for it’s delivery and with the same standards of care that we have promised for it’s delivery. Deficiencies in service delivery, if it ever happens, would be compensated at a pre-agreed rate in a transparent process.