{"id":10890,"date":"2020-06-22T15:52:49","date_gmt":"2020-06-22T15:52:49","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=10890"},"modified":"2020-06-22T15:52:49","modified_gmt":"2020-06-22T15:52:49","slug":"regulators-approve-new-ncba-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank","title":{"rendered":"REGULATORS APPROVE NEW NCBA BANK"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next month as NCBA Bank Tanzania Limited.<\/p>\n

The merger will be made through the acquisition of the majority of the assets and all of the liabilities from CBA by NIC.<\/p>\n

The implementation of the merger shall be through the transfer of assets and liabilities, which have been approved by the Bank of Tanzania (BoT) and the Fair Competition Commission (FCC).<\/p>\n

Once the merger is completed the new entity, NCBA Bank Tanzania Limited, will assume all liabilities, obligations and rights of the assets transferred from CBA. NCBA Bank Tanzania Limited will also assume all existing CBA customers and creditors.<\/p>\n

Both CBA and NIC are in the process of concluding other regulatory conditions.<\/p>\n

The BoT approved the merger through a letter dated on 14 February 2020 and once completed the NCBA Bank Tanzania Limited will move to be a Tier 2 Bank.<\/p>\n

NCBA Bank Tanzania Limited will be part of the NCBA Group PLC, which was formed on Tuesday, 1 October 2019 following approval by the Central Bank of Kenya and the Kenya National Treasury approved the merger of NIC Group PLC (NIC) and Commercial Bank of Africa Limited (CBA).<\/p>\n

\u201cThe name NCBA Bank symbolises the coming together of two great banks, NIC and CBA. This is the beginning of a new journey, bringing the best of both banks to build a bigger, stronger institution to support Tanzania\u2019s economy,\u201d Commercial Bank of Africa (Tanzania) Limited, Chief Executive Officer, Gift Shoko, said.<\/p>\n

\u201cAs part of the merger journey, we will spend the next month finalising the process of harmonising our systems so that our customers can enjoy seamless services across our channels in Tanzania. Our roll-out plans will also include the unveiling of the new NCBA Group identity,\u201d said NIC Bank (Tanzania), Limited, Managing Director, Margaret Karume.<\/p>\n

As part of the regional integration of the NCBA Group regional the businesses merger in Rwanda was completed earlier in the year and is expected to be completed in Uganda by the end of this quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next month as NCBA Bank Tanzania Limited. The merger will be made through the acquisition of the majority of the assets and all of the liabilities from CBA by NIC. The implementation […]<\/p>\n","protected":false},"author":84,"featured_media":10872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[3928,1578,2577],"class_list":["post-10890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cba","tag-fcc","tag-nic-bank"],"yoast_head":"\nREGULATORS APPROVE NEW NCBA BANK - Tanzania<\/title>\n<meta name=\"description\" content=\"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REGULATORS APPROVE NEW NCBA BANK\" \/>\n<meta property=\"og:description\" content=\"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-22T15:52:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"569\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"REGULATORS APPROVE NEW NCBA BANK\",\"datePublished\":\"2020-06-22T15:52:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\"},\"wordCount\":354,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg\",\"keywords\":[\"CBA\",\"FCC\",\"NIC Bank\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\",\"name\":\"REGULATORS APPROVE NEW NCBA BANK - Tanzania\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg\",\"datePublished\":\"2020-06-22T15:52:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg\",\"width\":1024,\"height\":569},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/tanzania\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"REGULATORS APPROVE NEW NCBA BANK\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/\",\"name\":\"Tanzania\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"REGULATORS APPROVE NEW NCBA BANK - Tanzania","description":"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank","og_locale":"en_US","og_type":"article","og_title":"REGULATORS APPROVE NEW NCBA BANK","og_description":"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next","og_url":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank","og_site_name":"Tanzania","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2020-06-22T15:52:49+00:00","og_image":[{"width":1024,"height":569,"url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"REGULATORS APPROVE NEW NCBA BANK","datePublished":"2020-06-22T15:52:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank"},"wordCount":354,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg","keywords":["CBA","FCC","NIC Bank"],"articleSection":["all news","Economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank","url":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank","name":"REGULATORS APPROVE NEW NCBA BANK - Tanzania","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg","datePublished":"2020-06-22T15:52:49+00:00","author":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"NIC Bank Tanzania Limited (NIC) and Commercial Bank of Africa (Tanzania) Limited (CBA) has received all approvals to merge and start operations next","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#primaryimage","url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg","contentUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/7b1a89bfdb8f9d88782be03d744aa01e.jpg","width":1024,"height":569},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/tanzania\/economy\/regulators-approve-new-ncba-bank#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/tanzania\/"},{"@type":"ListItem","position":2,"name":"REGULATORS APPROVE NEW NCBA BANK"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/tanzania\/#website","url":"https:\/\/www.africa-press.net\/tanzania\/","name":"Tanzania","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/10890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/comments?post=10890"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/10890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media\/10872"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media?parent=10890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/categories?post=10890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/tags?post=10890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}