Bank M

The bank received its commercial banking license from the Bank of Tanzania in February 2007 and opened for business in July of the same year. Its authorized capital is approximately TSh 25 billion (US$17 million), of which TSh 9.3 billion (US$6.3 million) had been paid up as of October 2010.

In January 2019, the assets and liabilities of Bank M were acquired by Azania Bank, another retail commercial bank. The banking license of Bank M was revoked by the Bank of Tanzania, the national banking regulator.

Location

The headquarters and main branch of Bank M were located at the Bank M Building, at 8 Barack Obama Drive (former Ocean Road), in the city of Dar es Salaam, th large city and financial capital of Tanzania. The geographical coordinates of the headquarters of the bank are: 06°48'09.0"S, 39°17'12.0"E (Latitude:-6.802500; Longitude:39.286667).

Branch Network

As of November 2014, Bank M maintains branches in the following locations, with a view to expand to other areas of Tanzania: (1) Main Branch - 8 Barack Obama Drive, Dar es Salaam (2) Nyerere Road Branch - 27-28 Nyerere Road, Dar es Salaam (3) Kisutu Street Branch - 29 Kisutu Street, Dar es Salaam (4) Uhuru Street Branch - 27 Uhuru Street, Dar es Salaam (5) Arusha Branch - 29 East Joel Maeda Road, Arusha (6) Mwanza Branch - 62W Capri Point, Mwanza.