Bank of Baroda Tanzania

What Bank of Baroda Tanzania does

Bank of Baroda (Tanzania) Limited is a wholly-owned subsidiary of Bank of Baroda India (publicly listed on Indian exchanges under ticker BARODA), operating as a commercial bank in the United Republic of Tanzania. The bank re-entered the Tanzanian market on 13 October 2004 after a 37-year absence caused by the 1967 nationalization under the Arusha Declaration (the original Bank of Baroda presence in Tanganyika dated to 1956). It serves retail individuals, small and medium enterprises (capital TZS 5M-500M, 5-99 employees), corporate clients, professionals, and retail traders through a four-branch physical network in Dar es Salaam (headquarters and the recently-relocated Upanga branch), Arusha, and Mwanza, supplemented by the Baroda Connect internet banking platform and Baroda Tanzania Mobile apps on iOS and Android.

The product portfolio spans savings accounts (Baroda Shule, No Frills, ordinary), current accounts (premium and ordinary), fixed and short-term deposits, a comprehensive loan book (corporate finance, SME loans, home loans, personal loans, professional loans, education loans for domestic and abroad-bound students, car loans, and secured advances against property, shares, and future rent receivables), and non-fund-based facilities including letters of credit and bank guarantees. The transfer business is anchored by Rapid Fund to India, SWIFT international transfers, the Tanzania Interbank Swift System, and banker's cheques, with a dedicated India Desk. Treasury functions cover money market products, government securities, foreign exchange, and import/export bills.

Revenue is generated through three streams: net interest income on the loan book (corporate, SME, retail, education, home, car, secured loans), fee-based income from account maintenance, transactions, remittances, and trade-finance instruments, and a deposit franchise that funds lending. The go-to-market is branch-led sales complemented by self-serve digital channels; marketing leverages the global Bank of Baroda brand and its ambassador association with Sachin Tendulkar. No revenue, headcount, or profitability figures are publicly disclosed; the most recent financial results referenced are for the year ended 31 December 2020.

Name

Bank of Baroda Tanzania

Legal name

Bank of Baroda (Tanzania) Limited

Website

https://bankofbaroda.co.tz

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Bank of Baroda Tanzania Limited is a wholly-owned subsidiary of India's Bank of Baroda, operating a four-branch commercial bank in Dar es Salaam, Arusha, and Mwanza that serves retail, SME, and corporate customers with deposits, loans, remittances, and treasury services via branch and digital channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial lending
• International remittance
• Deposit accounts
• Foreign exchange services

Headquarters

HQ city

Dar es Salaam

HQ country

Tanzania

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Interest earned on loan products including corporate loans, SME loans, home loans, personal loans, education loans, car loans, and advances against property, shares, and rent receivables
2. Fee-based Income: Service charges, commissions, and fees from account maintenance, transactions, remittances (SWIFT transfers, rapid fund transfers), letter of credit issuance, and bank guarantees
3. Deposit Interest: Interest paid to customers on savings accounts, current deposits, and fixed/short-term deposits

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Bank of Baroda Tanzania provides a full suite of commercial banking services in Tanzania, including savings and current accounts, fixed and short-term deposits, a wide range of retail and corporate loans, international and domestic remittances (including a dedicated Rapid Fund to India service), letters of credit, bank guarantees, and treasury/foreign exchange functions. These are delivered through four branches and supplemented by Baroda Connect Internet Banking and a mobile banking app.

Product overview

Bank of Baroda Tanzania operates as a subsidiary of Bank of Baroda India, offering a comprehensive range of banking products and services in Tanzania. The product portfolio is organized into three core categories: Bank Accounts (savings accounts including Baroda Shule Savings, No Frills Savings, and ordinary accounts; current accounts including premium and standard options; and fixed/short deposits), Loans (fund-based facilities including corporate finance, SME loans, home loans, personal loans, education loans, professional loans, car loans, and loans against property/shares/rent receivables; plus non-fund based facilities like letters of credit and bank guarantees), and Transfers/Remittance services (including Rapid Fund to India, SWIFT transfers, and Tanzania Interbank Swift System). Digital banking is delivered through Baroda Connect internet banking and mobile banking applications for iOS and Android, complemented by financial calculators (EMI and Fixed Deposit). Treasury functions covering money market products, foreign exchange, and import/export bills are also available. The bank serves retail customers, SMEs, professionals, and corporate entities through its branch network.

Differentiator

Problem solved

Functional benefit

Products and services

• Baroda Shule Savings Account A savings account product designed to help customers save money with various benefits and flexible deposit options. Targeted at individual retail customers in Tanzania.
• Savings Account Ordinary/Others Standard savings account for general banking needs with ordinary features and benefits, serving retail customers in Tanzania.
• No Frills Savings Account Basic savings account with minimal features designed for customers seeking simple banking services and supporting financial inclusion.
• Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme A deposit scheme allowing customers to save even small amounts, promoting financial inclusion among underserved retail customers.
• Current Account From Banks Current account services for banking institutions and other banks.
• Baroda Premium Current Account Premium current account with enhanced features and benefits for high-value business customers.
• Current Account From Others / Ordinary Standard current account for businesses and individuals with regular banking requirements.
• Fixed Deposits Term deposits with fixed interest rates for customers seeking guaranteed returns over a specified period.
• Short Deposits Short-term deposit options for customers seeking flexible investment options with shorter tenure.
• Rapid Fund to India Fast and secure money transfer service enabling customers to send funds to India with lower fees, leveraging Bank of Baroda's home country network.
• SWIFT Transfer International wire transfer service using the SWIFT network for global transactions.
• Tanzania Interbank SWIFT System Domestic interbank transfer service using SWIFT infrastructure within Tanzania.
• Banker's Cheque Guaranteed payment instrument issued by the bank for secure transactions.
• Finance For Corporate Working capital and long-term financing solutions for corporate entities in Tanzania.
• Loan For Small & Medium Enterprises Credit facilities for SMEs with capital investments ranging from TZS 5.00 Million to TZS 500 Million, majority owned by Tanzanian citizens with 5 to 99 employees.
• Home Loan Financing for purchasing plots with the undertaking that construction will be completed within two years from the date of plot purchase.
• Loan For Professionals Credit facilities tailored for established professionals in Tanzania to meet professional and personal financial requirements.
• Personal Loan To Individual and Salaried Employees Unsecured loans for individuals and salaried employees to meet personal financial needs.
• Loan To Retail Traders Financing solutions to cater to the financial needs of retail traders and employees of reputed organizations.
• Education Loans For Specialized Courses & University Students Loans for students admitted to various general and professional courses at universities.
• Education Loans For Students Going Abroad Financing options for students pursuing education at international institutions.
• Advance Against Property Loan secured against property for any purpose except speculation and unlawful activities.
• Loan Against Shares Listed In Stock Exchange For Individual / Joint Credit facilities against listed shares for meeting contingencies and personal purposes.
• Issuance Of Letter Of Credit & Bank Guarantee Non-fund based banking facilities including letters of credit and bank guarantees for trade transactions.
• Baroda Connect (Internet Banking) Online banking platform enabling customers to access and manage their accounts electronically.
• Baroda Tanzania Mobile Banking Smartphone banking application for iOS and Android devices enabling banking services on mobile.
• Treasury Functions Money market products including deposits and investment in government securities, currency dealing (foreign exchange), and import/export bill services.
• India Desk Dedicated service desk for India-related banking needs and remittance services, leveraging the parent group's home country presence.

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Insurance Tie-up PartnersminorOthersInsurance products offered through partnership arrangements for customer convenience. Website redirects to insurance partner microsites for insurance products.
• Bank of Baroda Group EntitiescoreStrategic or Co-development PartnerPart of the Bank of Baroda Group which includes multiple subsidiaries: BOB Capital Markets, Nainital Bank, IndiaFirst Life Insurance Company, India Infradebt, Baroda BNP Paribas Mutual Fund, Baroda Global Shared Services, BarodaSun Technologies, Uttar Pradesh Gramin Bank, Gujarat Gramin Bank, BOB IFSC Banking Unit, and BOB World.
• Guardian LimitedminorOthersNews coverage indicates a relationship with The Guardian Limited media organization for press coverage and corporate engagement.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Exim Bank Tanzania: Tanzania-based commercial bank with growing retail and SME presence. Comparable as a competitor for local deposit and SME business, though with less cross-border remittance and trade-finance depth than BoB Tanzania.

Broad incumbents

• NMB Bank: One of the largest Tanzanian commercial banks, partly government-owned, with the widest branch network in the country. Comparable as a mass-market deposit and SME lender, representing the dominant local incumbent BoB Tanzania must differentiate against.
• CRDB Bank: Largest domestic commercial bank in Tanzania with 200+ branches. Comparable as a full-service retail, SME, and corporate bank; broader incumbent in scale and product set, providing the benchmark for what BoB Tanzania competes against for market share.

Direct peers

• Bank of Africa Tanzania: Subsidiary of Bank of Africa Group (pan-African banking group). Comparable as a foreign-affiliated commercial bank serving SMEs, corporates, and retail customers in Tanzania with similar cross-border remittance and trade-finance positioning.
• Absa Bank Tanzania: Absa Group subsidiary (South Africa, formerly Barclays Africa) operating as a full-service commercial bank in Tanzania. Comparable as a foreign-owned, full-service retail and corporate bank with a similar digital plus physical distribution model.
• Equity Bank Tanzania: Subsidiary of Equity Group Holdings (Kenya) with a Tanzanian franchise. Comparable as a foreign-owned commercial bank with strong retail/SME focus, agency banking, and mobile channels competing in the same customer segments.
• Standard Chartered Bank Tanzania: Subsidiary of Standard Chartered PLC, a UK-headquartered international bank. Comparable as a foreign-owned bank in Tanzania offering cross-border trade, FX, and corporate banking alongside retail products, directly competing for the same India-Asia-Africa flows.
• KCB Bank Tanzania: Subsidiary of Kenya's KCB Group operating in Tanzania as a foreign-owned commercial bank. Directly comparable as a regionally-headquartered African bank subsidiary offering retail, SME, and corporate banking in the same Tanzanian market with a similar branch-based and digital model.
• Stanbic Bank Tanzania: Subsidiary of Standard Bank Group (South Africa) and a major foreign-owned commercial bank in Tanzania. Comparable as a multi-channel commercial bank serving retail, corporate, and institutional clients with strong trade finance and FX capabilities.
• Diamond Trust Bank Tanzania: Kenyan-headquartered commercial bank with Tanzanian operations. Comparable as a foreign-owned commercial bank subsidiary serving retail, SME, and corporate clients in Tanzania with similar product breadth and digital channels.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bank-of-baroda-tanzania

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Baroda Tanzania