National Bank of Commerce (Tanzania), whose full name is National Bank of Commerce (Tanzania) Limited, sometimes referred to as NBC (Tanzania), or as NBC (Tanzania) Limited, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the country’s central bank and the national banking regulator. In August 2019, the bank was fined TSh 1 billion (US$435,000) because of the failure to establish a data center in the East African nation.
The Bank traces its origins to 1967 when the Tanzanian Government nationalised all financial institutions, including banks. In 1991, the banking industry was amended and six years later, in 1997, the institution then known as National Bank of Commerce, was split into three separate entities : NBC Holding Corporation, National Microfinance Bank (NMB) and NBC (1997) Limited, In 2000, South African financial services group Absa Group Limited acquired a majority stake in NBC.The Government of Tanzania retained a 30% shareholding and the International Finance Corporation (IFC), a member of the World Bank Group, took up 15% shareholding in the bank. The new entity became known as NBC Limited.
NBC Bank Vacancies, November 2024:
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- Markets Sales Dealer Job Opportunity at NBC Bank
- Storage & Linux Specialist Job Opportunity at NBC Bank