Mkombozi Commercial Bank
Mkombozi Commercial Bank Plc. (MKCB) is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator. "Mkombozi" is a Swahili word meaning "Savior" Overview. The bank is a small commercial bank that focuses on serving the lower social economic classes in Tanzania, along with their small-to-medium enterprises (SMEs). , the bank's total asset valuation was approximately US$76.94 million (TZS:178.82 billion), with shareholder's equity of approximately US$10.02 million (TZS:23.3 billion). The bank made a profit of TSh806 million (US$346,835), in calendar year 2013 . History. The bank obtained a commercial banking licence from the Bank of Tanzania, the national banking regulator, in July 2009. MKCB then opened for business in August 2009. Ownership. Mkombozi Commercial Bank is owned by Tanzanian Catholic dioceses, parishes, and individuals of all religious persuasions. In order to raise the US$5 million (TZS:7.8 billion) initial share capital, shares were sold to individuals and businesses, in batches of 100 shares at US$0.75 per share. In November 2014, the bank floated its shares of the Dar es Salaam Stock Exchange (DSE), with three main objectives: (a) to raise paid-up  capital, above the new statutory minimum of TSh15 billion (US$9 million), before 1 March 2015 (b) to raise funds for expanded lending and (c) to source funding for opening more branches. Branch Network. , MKCB maintains a network of branches at the following locations: Governance. The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The current Chairperson is Marcellina Chijoriga. The current Managing Director is Respige Kimati.