Tanganyika Postal Office Savings Bank (TPOSB) now Tanzania Commercial Bank came into being in 1925 when Tanganyika was under British Rule. It later became a Savings Bank under the then East African Post and Telecommunications which ceased to operate after the collapse of the East African Community. The Tanzania Posts & Telecommunications Corporation (TP&TC) came into being to cater for the Tanzanian market. TPB was formed from the now defunct TP&TC. TPB was established by the Tanzania Postal Bank Act No. 11 of 1991. On Monday the 29th of June 2015, the Parliament of the United Republic of Tanzania repealed the Act and on the 29th of March 2016 the bank was incorporated under the Companies Act (Cap 212) as TPB Bank PLC. On Thursday 19th January 2017, the bank unveiled it’s the name TPB Bank PLC to the public as well as its new logo and tagline (Grow with us). On the 14th July 2021 the bank changed its name to Tanzania Commercial Bank Plc with a tagline ‘Growing stronger together’.
Tanzania Commercial Bank is a public institution where the Government of the United Republic of Tanzania is a majority shareholder with minority stakes held by the Tanzania Posts Corporation, the Revolutionary Government of Zanzibar, Posta na Simu Savings and Credit Society, Public Service Social Security Fund and Workers Compensation Fund.
Table 1: Tanzania Commercial Bank Shareholding Structure – October 2021
Government of the United Republic of Tanzania
Tanzania Posts Corporation
Revolutionary Government of Zanzibar
Posta na Simu Savings and Credit Cooperative Society Limited
Public Service Social Security Pension Fund
Workers Compensation Fund
1.3. Vision, Mission and Core Values
To be the leading bank in the provision of innovative financial solutions and promoting financial inclusion in Tanzania.
To provide convenient banking products and services through the deployment of innovative solutions, enhance value to stakeholders and contribute to the socio-economic needs of the Country
Tanzania Commercial Bank has identified its core values which will shape the culture, define the character of TCB and guide how TCB’s people behave and make decisions going forward.
Teamwork: Our business units will work together in harmony so as to make sure our customers get the best value for money in the services and products we offer.
Creativity: We believe diversity is indispensable in bringing out creativity as we continuously seek to introduce new and better ways at what we do. Innovation is an essential tool of excelling in a highly competitive banking industry.
Trustworthy: Our people conduct themselves ethically in a manner that is above reproach to win the trust of our customers and stakeholders.
Excellence: Committed to the quest for excellence, we deliver what we promise and add value that goes well beyond what is expected.
Customer Focus: All our activities are primarily focused on customers’ needs and their fulfillment; we invest to enhance their experience of banking with us. The market we serve determines our choice of products and services and the way we deliver them.
Head Office 10th LAPF Towers, Bagamoyo Road, Opp Makumbusho Village, Kijitonyama, P.O BOX 9300, Dar es salaam