Tanzania: Stanchart, Tanzania Commercial Bank Sign Strategic Pact to Boost Customer Convenience

Dar es Salaam — Standard Chartered Bank Tanzania Limited and Tanzania Commercial Bank (TCB) yesterday signed a strategic partnership that will enhance convenience for clients to 84 more branches and 3,500 bank agents.

Initially, the six-year old partnership only involved 30 branches of previously known TPB recently re-branded to TCB

Standard Chartered Bank Chief executive Officer Sanjay Rughani said the partnership allows corporate customers of his bank to deposit cash to their accounts through the wide branch network of Tanzania Commercial Bank.

There is an existing system connection that allows for any cash deposited in any branch of TCB to reflect in the account of a Standard Chartered Bank customer in a near real time basis.

"Our purpose is to partner and connect people to prosperity. Standard Chartered Bank is keen on forming strategic partnerships that promote our customers' experience and extend value to our customers," noted Mr Rughani.

Through that enhanced partnership, he said, they had the opportunity to serve their customers better in additional 19 regions with TCB footprints where Standard Chartered had no physical presence.

Standard Chartered Bank currently has 3 branches in Dar es Salaam, Mwanza and Arusha.

Initially the partnership was available in Mbeya, Tabora, Bukoba and Dodoma Regions.

The TCB Chief Executive Officer SabaSaba Moshingi said the enhanced partnership between the two banks would be a mutual beneficial relationship that serves a common goal of serving clients. He said both banks had better-quality security systems that provide guarantee on the safety of the customer's deposits.

"With Standard Chartered Bank, it will also enable some of our customers to make business transactions within Standard Chartered Bank hence, increasing business transactions between both banks," said Mr Moshingi.

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