Exim Bank finalises acquisition of Canara bank

Exim Bank CEO Jaffari Matundu (centre) addresses the media to announce the official acquisition of Canara Bank Tanzania, which is now part of Exim Bank Tanzania. This acquisition marks the bank’s third in six years as part of its ongoing efforts to enhance the banking sector both locally and regionally. Joining him at the event, held in Dar es Salaam yesterday, were Chief Finance Officer Shani Kinswaga (left) and Head of Strategic Initiatives Sumit Shekhar. PHOTO | CORESPONDENT

What you need to know:

  • The deal follows a binding offer signed in 2024 and the subsequent regulatory approvals, culminating in the transaction’s completion.