List of Kenyan Banks With Business Operations in Tanzania and Profits Earned

• The regional expansion of banks such as KCB, Equity, DTB, I&M, and NCBA reflects increasing East African economic integration and aggressive cross-border growth strategies
• KCB Bank Tanzania, with 17 branches and over 500 banking agents, recorded the highest net profit among Kenyan-owned banks in Tanzania in 2024 at TZS 51.9 billion (KSh 2.49 billion)
• Equity Bank Tanzania and Diamond Trust Bank (Tanzania) Plc also saw strong financial performance in 2024

Elijah Ntongai, a journalist at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan and global trends.

Kenyan banks have made significant inroads into the Tanzanian financial sector, establishing a strong regional presence through subsidiaries offering retail, SME, and corporate banking services.

The move underscores the growing East African integration and the aggressive expansion strategies of Kenyan financial institutions in search of regional growth opportunities.

Here is a look at Kenyan-owned banks with active commercial operations in Tanzania as of 2025 and the profits they made in the financial year 2024..

1. KCB Bank Tanzania Ltd

A subsidiary of Kenya’s KCB Group, KCB Bank Tanzania operates as a full-service commercial bank offering retail and corporate banking products such as loans, savings, trade finance, and SME banking.

The bank has 17 branches spread across the country, with a significant presence in Dar es Salaam (8 branches), followed by Arusha (3 branches) and others in Morogoro, Moshi, Kahama, Mbeya, Zanzibar, and Geita.

In addition to traditional banking, KCB Tanzania has deployed a robust agency banking network with over 500 agents, enhancing accessibility to financial services in both urban and rural areas in Tanzania.

KCB Bank Tanzania reported a net profit of TZS 51.9 billion in the financial year 2024, which converts to approximately KSh 2.49 billion at the exchange rate of 1 Tanzanian Shilling = 0.048 Kenyan Shilling.

2. Equity Bank Tanzania Limited

Part of Kenya’s Equity Group Holdings, Equity Bank Tanzania began operations in 2012 and has grown into a notable player in the Tanzanian market.

It currently operates 15 branches, including 8 in Dar es Salaam and others in Arusha, Mwanza, Moshi, Mbeya, Dodoma, Zanzibar, and Morogoro.

Equity Tanzania provides a wide range of services including retail, SME, and corporate banking. It boasts a substantial digital footprint with 22 ATMs, 1,260 merchant POS outlets, and its mobile and internet banking platforms under the EazzyBanking suite.

Equity Bank Tanzania achieved a net profit of TZS 24.94 billion (KSh 1.20 billion) in 2024, marking a significant increase from TZS 11.33 billion (KSh 543.84 million) in 2023.

3. Diamond Trust Bank (Tanzania) Plc

Diamond Trust Bank Tanzania is a subsidiary of the Kenyan-based DTB Group, backed by the Aga Khan Fund for Economic Development. It is classified as a tier-1 bank in Tanzania.

The bank has an impressive network of around 29 branches, with 15 in Dar es Salaam and the rest distributed across major towns and cities.

DTB Tanzania provides a comprehensive suite of services, including retail, corporate, and treasury products, along with Islamic banking services.

Diamond Trust Bank Tanzania reported a net profit of TZS 51.21 billion (KSh 2.46 billion) in 2024, up from TZS 18.86 billion (KSh 905.28 million) in 2023.

4. I&M Bank (T) Limited

Previously known as CF Union Bank, I&M Bank Tanzania is a commercial bank operating under the Nairobi-based I&M Group.

It has carved out a niche in offering tailored banking solutions to SMEs and corporates.

The bank maintains eight branches, with five in Dar es Salaam (Main, Maktaba, Oysterbay, Kariakoo, and Nyerere Road) and one each in Arusha, Mwanza, and Moshi.

I&M Bank Tanzania posted a net profit of TZS 5.1 billion (KSh 244.8 million) for the first half of 2024, representing a substantial increase from TZS 0.5 billion (KSh 24 million) in the same period of 2023.

5. NCBA Bank Tanzania Limited

NCBA Bank Tanzania is a subsidiary of the Kenyan NCBA Group, formed following the merger of NIC Bank and Commercial Bank of Africa (CBA). The bank has developed into a medium-sized commercial player in Tanzania.

It operates eight branches, five of which are located in Dar es Salaam (Amani Place, Kijitonyama, PSSSF, Nyerere Road, and Kariakoo), and the others in Arusha (Clock Tower), Mwanza (Nyanza), and Zanzibar.

NCBA Bank Tanzania recorded a net profit of TZS 20.16 billion (KSh 967.68 million) in 2023, reflecting a 157% growth from the previous year.

NCBA offers conventional banking services such as loans, savings accounts, and debit cards, serving both retail and corporate clients.

Tanzanian firms with businesses in Kenya

Conversely, several Tanzanian firms have expanded into Kenya in recent years, strengthening the economic ties between the two East African nations.

Notable companies include Taifa Gas, which established a major LPG plant in Dongo Kundu, and Nala, a fintech company that invested KSh 647 million to enhance Kenya’s financial infrastructure and create jobs.

The Amsons Group acquired over 90% stake in Bamburi Cement, with intentions to delist and fully acquire the company, while billionaires Aunali and Sajjad Rajabali bought a stake in Kenol Kobil.

These moves reflect Tanzania’s growing investment footprint in Kenya across energy, finance, and manufacturing sectors.

Source: TUKO.co.ke