ABOUT US

Headquartered in Dar es Salaam, I&M Bank Tanzania Limited is a commercial bank functioning in Tanzania. Operating under the Bank of Tanzania, the central bank and national banking authority, I&M Bank Group, based in Kenya, owns it as a subsidiary.

I&M Bank Tanzania has positioned itself as a major player in the financial services industry of the nation since its founding, especially addressing the needs of people, enterprises, and corporate clients. The bank had become a mid-sized company in the Tanzanian banking scene by the end of December 2013. At the time, its total assets were roughly TSh 296.6 billion, or around US$175.5 million. Valued at TSh 29.4 billion, or around US$17.4 million, shareholders' equity was This financial situation highlighted its increasing prominence and possibility for more market expansion.

Beginning in 2002, the bank operated under CF Union Bank. Starting from its Dar es Salaam headquarters, it progressively spread its reach to cover two branches in the city and a third in Arusha by 2010. The year 2010 was turning point in the bank's history as its original stockholders sold the company to a consortium of regional and foreign investors. I&M Bank organization, a well-known East African banking organization with a solid base in Kenya, headed the consortium. Other significant investors included PROPARCO, the French Development Agency; Kibo Fund, a private equity company located in Mauritius; and Michael Shirima, a well-known Tanzanian businessman and majority owner of Precision Air.

The bank was rebranded from CF Union Bank to I&M Bank (Tanzania) Limited in September 2010 following a change of ownership. This rebranding showed not just the shift in ownership but also a revamped strategic direction aimed at enhancing regional integration, increasing service offerings, and matching the Tanzanian operation with the aspirations and standards of the bigger I&M Bank Group.

The Tanzanian branch has gained from more investment, better governance, and a wider product offering catered to the demands of the local market since joining the I&M Bank Group. Although its early years concentrated on fundamental banking services, the bank has developed to provide a complete spectrum of financial solutions including savings and checking accounts, loans, foreign exchange services, trade finance, and digital banking platforms. It emphasizes especially on supporting medium to big corporate customers, providing them with strategic financial products that assist expansion, innovation, and cross-border commercial operations.

I&M Bank Tanzania keeps on being a major player in Tanzania's financial ecosystem with its strong support, strategic alliances, and expanding customer base. The bank's integration with a respected East African banking group gives it a competitive advantage, particularly in providing cross-border banking services, improved risk management systems, and access to regional knowledge.

I&M Bank Tanzania stays concentrated on innovation, customer-centric service delivery, and sustainable banking practices as the banking industry in Tanzania becoming increasingly competitive and digitally driven. Its position as a dependable and forward-looking financial institution in Tanzania is still defined by its history of strategic transformation and its dedication to development.

JOB OVERVIEW