People’s Bank of Zanzibar
The People’s Bank of Zanzibar (PBZ) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator
As of June 2014, PBZ was a medium-sized financial institution, with total assets of approximately TZS:321.35 billion. At that time, the bank’s shareholders’ equity was about TZS:29.6 billion. The bank employed 236 full-time staff as of 30 June 2014
The bank was founded in 1966 by the government of Zanzibar. It functions as a retail bank, serving individuals, small and medium enterprises (SMEs), and large corporate clients. Initially, its service area was limited to the islands of Zanzibar and Pemba.
In April 2011, the bank opened a branch in Dar es Salaam on the mainland. As of May 2012, it planned new branches in Mwanza, Arusha, Mtwara, and Mbeya.
In December 2011, the bank launched an Islamic bank window, in addition to the conventional banking services that it offers
