TCB opens new branch in Mbagala Charambe

BY DIRAMAKINI

NATIONAL lender Tanzania Commercial Bank (TCB) has upped presence in Dar es Salaam by opening the 12th branch in the country’s commercial capital and economic hub in Mbagala.
Temeke District Commissioner, Jokate Mwegelo with Acting Chief Executive Officer of Tanzania Commercial Bank, Moses Manyatta unveil a curtain to mark the official launch of the Bank's new Branch at Mbagala Charambe in Dar es Salaam.

Temeke DC Jokate Mwegelo graced the ceremony to unveil the newest outlet in the TCB stable that now comprises an extensive network of 85 branches across the country.

Speaking before its inauguration, Acting Chief Executive Officer, Moses Manyatta said the TCB Mbagala Branch is the fifth outlet to be launched by the oldest lender in Tanzania so far this year.

He said the financial inclusion investment in one of the most populous suburbs in Dar es Salaam makes the branches the bank has opened in the city this year to be two. The TCB Kigamboni Branch, which opened for business in March, was the first and the lender’s 11th in the region.
Temeke District Commissioner, Jokate Mwegelo addresses invited guests during the official launch of a new Tanzania Commercial Bank Branch opened in Mbagala Charambe.

Apart from a blossoming population, which no operations expert can ignore, Mbagala also has a thriving and enterprising economy that lured TCB to come up with the mortar and brick presence idea in the area.

The venture is part of the transformation agenda of the bank and a key aspect of its endeavour to become fully fledged universal bank. Before the transformation journey kicked off in 2011, TCB had a limited branch network that mostly comprised dilapidated outlets.
Acting Chief Executive Officer, Moses Manyatta addresses invited guests during the official launch of a new Tanzania Commercial Bank Branch in Mbagala Charambe.

“This is our 12th branch in Dar es Salaam that gives Mbagala residents the opportunity to join mainstream banking and conveniently enjoy our top notch services,” Mr. Manyatta said.

He said the new outlet consolidates TCB position of being among the banks that have the widest branch networks in the market.
Temeke District Commissioner, Jokate Mwegelo receives a gift during the official launch of a new Tanzania Commercial Bank Branch in Mbagala Charambe.

The ongoing transformation efforts have also made TCB to be among the ten top performing banks in the country. Its latest financials put the assets base at around TZS 1.18 trillion as to the end of 2021 and customers’ deposits, which the new branch will help to mobilise, standing at 729,137.

The lender said another four branches are lined up for opening before this year ends as part of the operational scheme to take its services closer to the people and strategically position itself to better and competitively serve the country.
Temeke District Commissioner, Jokate Mwegelo receives an ATM card during the official launch of a new Tanzania Commercial Bank Branch in Mbagala Charambe.

“The Mbagala branch is the fifth we have launched in 2022. Branches already opened this year are Kigamboni, Mbinga, Usa River and Mpanda. Our plan is to expand our outreach in four new locations this year,” TCB noted in a presser.

DC Jokate lauded the bank for its inclusive finance zeal and championing financial inclusion for all saying it was in line with the government’s grand mission to make life better for all.
Tanzania Commercial Bank Mbagala Charambe Branch Manager, Edward Mwoleka speaks to invited guests during the official launch of the branch.

According to her, TCB should be emulated for its continued in-roads into the underserved areas like Mbagala and going for un-banked populations in many parts of the country.

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