Dar es Salaam Community Bank

Dar es Salaam Community Bank

Type	Public: DSE: DCB
Industry	Financial Services
Founded	2001
Headquarters	Dar es Salaam, Tanzania
Key people	Paul Milyango Rupia, Chairman Edmund Pancras Mkwawa, Managing Director
Products	Loans, Checking, Savings, Investments, Debit Cards
Total assets	US$57.8 million (2010)
Website	Homepage

Dar es Salaam Community Bank (DCB) is a commercial bank in Tanzania. It is one of the twenty-nine (29) licensed commercial banks in the country.^[1]

Overview

DCB is small, private, publicly-traded, microfinance bank established to serve the banking needs of the poorest of the poor in the city of Dar-es-Salaam and its suburbs. The stock of the bank is listed on the Dar es Salaam Stock Exchange.^[2] As of June 2010^[update], the total asset base of DCB was valued at approximately US$58 million, with shareholders' equity of US$9 million.^[3]

History

Dar es Salaam Community Bank was incorporated in September 2001. In October 2001, DCB received a provisional banking licence from the Bank of Tanzania, the national banking regulator. DCB commenced commercial banking services in April 2002. In 2003, the Bank of Tanzania issued DCB with an unrestricted banking license as a regional unit bank, whose services are restricted to serving the Dar es Salaam area only.^[4] In 2008, the stock of DCB was floated on the Dar es Salaam Stock Exchange through the issuance of an IPO. The stock trades under the symbol:DCB.^[5]

Ownership

The shares of the bank's stock is listed on the Dar es Salaam Stock Exchange, where it trades under the symbol:DCB. The bank's stock is owned by the following corporate entities and individuals: ^[6]

Dar es Salaam Community Bank Stock Ownership

Rank Name of Owner Percentage Ownership 1 Dar es Salaam City Council 08.86 2 Ilala Municipal Council 08.25 3 Kinondoni Municipal Council 08.11 4 Temeke Municipal Council 07.40 5 Unit Trust of Tanzania 09.05 6 Private Individuals and Corporations 58.33 Total 100.00 Branch Network As of October 2010[update], DCB maintains branches at the following locations in Dar-es-Salaam:[7] Main Branch - Arnautoglu Hall, Bibi Titi Mohamed Road, Dar-es-Salaam Tabata Branch - Tabata Dampo Area, Dar es Salaam Temeke Branch - Temeke, Dar es Salaam Magomeni Branch - Kawawa Road, Magomeni, Dar es Salaam Governance The bank's activities are directed by a nine-person Board of Directors. Paul Milyango Rupia, one of the non-Executive Directors is the Chairman. Edmund Pancras Mkwawa, serves as the Managing Director.[8] See also List of banks in Tanzania List of banks in Africa Bank of Tanzania Economy of Tanzania External links Website of Dar es Salaam Community Bank Website of Bank of Tanzania Profile At Google Finance References ^ List of Licensed Commercial Banks in Tanzania ^ DCB Stock Performance As Of September 2010 ^ Balance Sheet As of 30 June 2010 ^ History of Dar es Salaam Community Bank ^ DCB Stock Trades on Dar es Salaam Stock Exchange ^ Shareholders in Dar es Salaam Community Bank ^ Branches of Dar es Salaam Community Bank ^ Governance of DCB