Scribd
Upload
425 views1 page

Public Notice02082018

The Bank of Tanzania granted Tanzania Women's Bank, Tandahimba Community Bank, and Kilimanjaro Cooperative Bank extensions until June 2018 to meet minimum capital requirements, and a further extension until July 2018. The shareholders of Tanzania Women's Bank and TPB Bank resolved to merge the two banks, forming one bank called TPB Bank Plc. Pursuant to Tanzanian law, the Bank of Tanzania authorized the merger of Tanzania Women's Bank and TPB Bank on August 3rd 2018 under the name TPB Bank Plc. Tandahimba Community Bank and Kilimanjaro Cooperative Bank have currently met minimum capital requirements under Tanzanian law and can continue normal banking operations.

Uploaded by

Anonymous FnM14a0
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
425 views1 page

Public Notice02082018

The Bank of Tanzania granted Tanzania Women's Bank, Tandahimba Community Bank, and Kilimanjaro Cooperative Bank extensions until June 2018 to meet minimum capital requirements, and a further extension until July 2018. The shareholders of Tanzania Women's Bank and TPB Bank resolved to merge the two banks, forming one bank called TPB Bank Plc. Pursuant to Tanzanian law, the Bank of Tanzania authorized the merger of Tanzania Women's Bank and TPB Bank on August 3rd 2018 under the name TPB Bank Plc. Tandahimba Community Bank and Kilimanjaro Cooperative Bank have currently met minimum capital requirements under Tanzanian law and can continue normal banking operations.

Uploaded by

Anonymous FnM14a0
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

PUBLIC NOTICE

IN RESPECT OF TANZANIA WOMEN’S BANK PLC, TANDAHIMBA COMMUNITY


BANK LTD AND KILIMANJARO COOPERATIVE BANK LTD
On 4th January 2018, the Bank of Tanzania granted an extension of up to 30th
June 2018 for Tanzania Women’s Bank Plc (TWB), Tandahimba Community
Bank Limited (TACOBA) and Kilimanjaro Cooperative Bank Limited (KCBL) to
meet the minimum regulatory capital requirements as stipulated under the
Banking and Financial Institutions Act, 2006 and its regulations. These banks
were further granted an extension of one month up to 31st July 2018 to meet
the minimum capital requirements.
In line with the Government of the United Republic of Tanzania’s initiative of
reorganizing public sector banks, the shareholders of TPB and TWB have
resolved to merge the two institutions with the aim of improving efficiency and
performance of the said banks. Following this merger, there shall remain one
bank, named TPB Bank Plc.
Pursuant to section 30(1)(a) of the Banking and Financial Institutions Act, 2006,
the Bank of Tanzania has authorized the merger of TWB and TPB with effect
from 3rd August 2018. The new bank will retain the name “TPB Bank Plc” which
will continue to be adequately capitalized as required under Section 17 of the
Banking and Financial Institutions Act, 2006. All customers, employees, assets
and liabilities of TWB will be transferred to TPB.
The public is further informed that, for now TACOBA and KCBL have managed
to meet their minimum capital as required under the law and therefore they
continue to conduct their banking business normally.
The Bank of Tanzania would like to assure the public that it will continue to
protect the interests of depositors and maintain the stability of the banking
sector.
For further clarification, interested parties may contact the Director Banking
Supervision, Bank of Tanzania, telephone number +255 22 2235483, fax
number +255 22 2234189 or through email - [email protected].

BANK OF TANZANIA
02 August 2018

You might also like