Advans Bank Tanzania received a license to operate as a fully-fledged commercial bank in May 2010 and was incorporated in June 2010. Its initial shareholders are Advans SA as majority shareholder and FMO (the Netherlands Development Financial Company).
Advans Bank Tanzania opened its first branch in Dar Es Salam, in the administrative yard of Manzese, in February 2011.
By the end of its fifth year in activity, Advans Bank Tanzania shall be providing financial services to some 50,000 clients. The institution forecasts to reach 20,700 active loans amounting to EUR 17 million and circa 41,500 voluntary deposits, representing over EUR 8.7 million. In order to achieve this level of outreach, Advans Tanzania will open 9 branches by year 5. Over the same time span, Advans Bank Tanzania should have a total of 274 staff on its payroll.