Bank of Tanzania completes dissolution process of CCB

(2 minutes read)

·        The Bank of Tanzania (BOT) has transferred all assets and liabilities of China Commercial Bank Limited (CCB) to NMB Bank Plc

·        BOT had taken over and placed under statutory administration CCB after it failed to meet regulatory requirements regarding capital adequacy ratio

·        Depositors and other creditors of CCB can access banking services through NMB Bank.

The Bank of Tanzania (BOT) has transferred all assets and liabilities of China Commercial Bank Limited (CCB) to NMB Bank Plc.  BOT had taken over and placed under statutory administration CCB after it failed to meet regulatory requirements regarding capital adequacy ratio.

BOT said that the process of determining the resolution option of CCB has been completed, and transfer of assets and liabilities to an existing bank-NMB-has been adopted  on the lines of formal resolution option passed on  4th March 2021.

Depositors and other creditors of CCB can access banking services through NMB Bank. A formal date will be announced indicating the time when they can access the NMB branches.