Company Profile

Maendeleo Bank PLC (MBP) was established as an initiative of the Evangelical Lutheran Church in Tanzania, Eastern and Coastal Diocese. Its mandate is to expand access to reliable and affordable financial services. MBP operates under the regulatory oversight of the Bank of Tanzania (BOT) and fully complies with the Banking and Financial Institutions Act.

MBP serves retail customers, micro, small, and medium enterprises (MSMEs), and institutions through a range of products, including deposit accounts, credit facilities, and digital banking solutions. Its strategic focus is on promoting financial inclusion and supporting enterprise growth across Tanzania.

MBP operates six branches in Tanzania five in Dar es Salaam and one in Arusha supported by an extensive agency banking network of over 2,100 agents nationwide. This network allows Customers to access essential banking services such as deposits, withdrawals, and payments without needing to visit a branch.

Customers also benefit from more than 280 Umoja ATM locations across the country and digital banking channels that enable account access, fund transfers, and bill payments at any time. These platforms enhance convenience, reduce transaction times, and extend banking services to both urban and rural communities.

MBP was incorporated in February 2011 and commenced operations in 2013 as a regional bank. In the same year, it was listed on the Dar es Salaam Stock Exchange, demonstrating its early commitment to transparency, public participation, and long-term growth.

In 2025, MBP became a fully licensed commercial bank following approval from the Bank of Tanzania (BOT), expanding its capacity to offer a broader range of financial products and services nationwide.

MBP is guided by a Board of Directors and supported by structured committees overseeing risk, audit, and compliance. This framework ensures strict adherence to regulatory standards and best practices in corporate governance, reinforcing transparency, accountability, and customer trust.