The Story of Bank M (Tanzania) Limited
Bank M was a commercial bank in Tanzania that was once a notable name in the country's financial landscape. Licensed by the Bank of Tanzania (BoT), it operated for several years, providing banking services, particularly in the realm of corporate banking.
However, the bank's journey came to an end in 2018. On August 2, 2018, the Bank of Tanzania took over the administration of Bank M Tanzania Plc due to what it described as a "liquidity crisis." According to reports from The Citizen, the collapse was attributed to massive loans amounting to Sh618 billion that were extended to a small number of clients and even shareholders. This situation led to the bank's inability to meet its obligations.
This takeover by the central bank marked the end of an era for Bank M. Its fall was a surprise to many and served as a significant event in Tanzania's financial sector. Court cases and legal proceedings related to the bank's administration and its financial dealings have continued to be a matter of public record, as seen in various legal documents.
While Bank M is no longer in operation, its history remains an important case study in banking.
Bank M was a commercial bank in Tanzania that was once a notable name in the country's financial landscape. Licensed by the Bank of Tanzania (BoT), it operated for several years, providing banking services, particularly in the realm of corporate banking.
However, the bank's journey came to an end in 2018. On August 2, 2018, the Bank of Tanzania took over the administration of Bank M Tanzania Plc due to what it described as a "liquidity crisis." According to reports from The Citizen, the collapse was attributed to massive loans amounting to Sh618 billion that were extended to a small number of clients and even shareholders. This situation led to the bank's inability to meet its obligations.
This takeover by the central bank marked the end of an era for Bank M. Its fall was a surprise to many and served as a significant event in Tanzania's financial sector. Court cases and legal proceedings related to the bank's administration and its financial dealings have continued to be a matter of public record, as seen in various legal documents.
While Bank M is no longer in operation, its history remains an important case study in banking.
Contact and Resources (Historical)
Bank of Tanzania Press Release: Bank of Tanzania takes over administration of Bank M Tanzania Plc
The Citizen Article: Shareholders in spotlight over collapse of Bank M
Tanzania Trade Portal Listing: List of banking institutions in Tanzania
LinkedIn Page: Bank M Tanzania Plc
Bank of Tanzania Press Release:
Bank of Tanzania takes over administration of Bank M Tanzania Plc The Citizen Article:
Shareholders in spotlight over collapse of Bank M Tanzania Trade Portal Listing:
List of banking institutions in Tanzania LinkedIn Page:
Bank M Tanzania Plc