Exim Bank completes acquisition of FNB Tanzania
Exim Bank Tanzania has acquired First National Bank (FNB) Tanzania Limited's assets and liabilities to expand locally and regionally.
Exim Bank Tanzania signed a bid to buy FNB Tanzania's assets and liabilities on October 26, 2021.
The agreement allowed authorities to start examining the transaction, prompting the FCC to seek stakeholder input on January 10.
Exim Bank CEO Jaffari Matundu said regulators, including the Bank of Tanzania (BoT), have approved the acquisition and FNB clients are now banking with Exim.
Exim Bank Tanzania acquired UBL Tanzania three years ago.
"We're happy to welcome former FNB Bank customers to Exim," he added.
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