TPB was established by the Tanzania Postal Bank Act No. 11 of 1991 as a separate legal entity from the now defunct TP&TC along with Tanzania Posts Corporation (TPC) and Tanzania Telecommunications Company Limited (TTCL) which are also separate legal entities. The bank is regulated by Bank of Tanzania as a Non-Bank Financial Institution. On 29th June 2015, a bill to repeal Tanzania Postal Bank Act, 1991 as amended was tabled at the National Assembly. The repeal was passed and enacted The Tanzania Postal Bank (Repeal and Transitional Provisions) Act 2015 which was assented by, His Excellence Dr. Jakaya Kikwete, President of the United Republic of Tanzania. This Act granted the bank permission to register under the Companies Act, which was done on 29th March 2016 in the name of TPB Bank PLC.
The bank’s original focus at inception was providing financial services to the common Tanzanian and this has now evolved to focus on promoting financial inclusion and empowering Tanzanians by helping them develop a saving culture and access to credit.
TPB is a public institution where the Government of the United Republic of Tanzania is a majority shareholder with 86.03% of the shares, Tanzania Posts Corporation holds 8.09% of the shares, the Revolutionary Government of Zanzibar 3.05% of the shares and TP & TC Savings and Credit Society 2.83% of the shares.
TPB MILESTONES
Tanganyika Postal Office Savings Bank (now TPB) came into being in 1925.
TPB is established by the Tanzania Postal Bank Act No. 11 of 1991 as a separate legal entity from the now defunct TP&TC along with Tanzania Posts Corporation (TPC) and Tanzania Telecommunications Company Limited (TTCL).
Bank of Tanzania grants Banking License on 17th October 1993.
July 2010 – TPB joins the Umoja-Switch ATM network.
July 1st 2011 – transformation of the bank begins.
Relaunch of TPB POPOTE on July 2013. A pro-poor product that works via mobile banking and point-of-sale. With an opening balance of TZS 5,000.00, a debit-card operational on the Umoja-Switch ATM’s and mobile banking that would be connected to all mobile money operators, this was a market first.
2014 – Launch of Wastaafu Loan in partnership with pension funds. This product was specifically tailored for pensioners, a market first in Tanzania.
29th June 2015, a bill to repeal Tanzania Postal Bank Act, 1991 as amended was tabled at the National Assembly. The repeal was passed and enacted The Tanzania Postal Bank (Repeal and Transitional Provisions) Act 2015 which was assented by, His Excellence Dr. Jakaya Kikwete, President of the United Republic of Tanzania.
31st December 2015 – another year of impressive financial performance. Over the last four years the bank has grown by an average of 33% across all key financial parameters – revenue, pre-tax profit, loans and advances, customer deposits, total assets and shareholders fund.
On 29th March 2016, the bank was incorporated under the Companies Act (Cap 212) as TPB Bank PLC.
The Government of the United Republic of Tanzania through the Minister for Finance and Planning, Hon. Dr. Philip P. Mpango has announced the effective date as 29th May 2016 for the transitional period of six months which ended on 29th November 2016.