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Bank M Type Private Industry Financial Services Founded 2007 Headquarters Dar es Salaam, Tanzania Key people Nimrod Nkono, Chairman Sanjeev Kumar, Chief Executive Officer Products Loans, Checking, Savings, Investments, Debit Cards Revenue Aftertax: US$355,438[1] Total assets US$104.7 million (2010) Employees 120+ (2010) Website Homepage Bank M is a commercial bank in Tanzania. It is one of the twenty-nine (29) licensed commercial bank in the country.[2] Contents 1 Overview 2 History 3 Ownership 4 Branch Network 5 Governance 6 External links 7 See also 8 References Overview The bank is a small but growing financial services provider in Tanzania. Bank M provides banking services to individuals and businesses, with focus on medium-sized businesses and large corporations. As of July 2010[update], the bank's total asset base was estimated at about US$104.7 million (Tanzania shillings (TZS):154 billion).[3] History Bank M received its commercial banking license from the Bank of Tanzania, the national banking regulator, in February 2007, and opened for business in July, the same year. Its authorized capital is approximately US$17 million (Tanzania shillings: 25 billion), of which US$6.3 million (TZS:9.3 billion) has been paid up, as of October 2010. [4] Ownership Bank M stock is privately owned by the following corporate entities and individuals: [5] Bank M Stock Ownership Rank Name of Owner Percentage Ownership 1 Africarriers Limited 08.15 2 Equity & Allied Limited 18.41 3 Negus Holdings Limited 18.41 4 Noble Azania Investments Limited 18.41 5 Sean Patrick Breslin 13.74 6 Pride Tanzania 04.48 7 Bhaskaran Nair 09.20 8 Sanjeev Kumar 09.20 Total 100.00 Branch Network As of October 2010[update], Bank M maintains branches in the following locations, with a view to expand to other areas of Tanzania:[6] Main Branch - Ocean Road, Dar es Salaam[7] Nyerere Road Branch - Nyerere Road, Dar es Salaam Kisutu Street Branch - Kisutu Street, Dar es Salaam Uhuru Street Branch - Uhuru Street, Dar es Salaam Governance The Chairman of the Board of Directors is Nimrod Nkono, a non-Executive Director. Sanjeev Kumar, a shareholder in the bank is the Chief Executive Officer of Bank M. External links Website of Bank M Website of Bank of Tanzania] See also List of banks in Tanzania List of banks in Africa Bank of Tanzania Economy of Tanzania References ^ Bank M Financial Statement December 2009 ^ List of Licensed Commercial Banks In Tanzania ^ Bank M Total Assets July 2010 ^ Financial Outlook of Bank M In October 2010 ^ Shareholders in Bank M ^ Branches of Bank M ^ Members of Tanzania Bankers Association Including Addresses