trending Market Intelligence /marketintelligence/en/news-insights/trending/1w-dUG_o6c9rZudp5O1znw2 content esgSubNav
In This List

Tanzania's central bank moves Bank M assets, liabilities to Azania Bank

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Tanzania's central bank moves Bank M assets, liabilities to Azania Bank

The Bank of Tanzania transferred the assets and liabilities of Bank M Tanzania PLC to Azania Bank Ltd., Reuters reported Jan. 15, citing Deputy Governor Bernard Kibesse.

The central bank placed Bank M under administration in August 2018 after it failed to meet liquidity requirements and maturing obligations. The lender had 1 trillion Tanzanian shillings of assets when the central bank intervened.

Kibesse said in a news conference that Azania Bank's capital will now be 164 billion shillings, compared to a minimum requirement of 15 billion shillings, Reuters added.

As of Jan. 15, US$1 was equivalent to 2,296.50 Tanzanian shillings.