Dar es Salaam. I&M Bank Tanzania has officially opened its latest branch at Palm Village in Mikocheni, signalling the bank’s commitment to broadening financial access for residents and businesses in the area.
The Palm Village branch marks the bank’s ninth location nationwide, reinforcing its ongoing strategy to expand its footprint across Tanzania.
The branch was inaugurated by I&M Bank Tanzania Chief Executive Officer and Managing Director, Mr Zahid Mustafa, who said the expansion reflects the bank’s mission to bring banking services closer to customers while fostering economic development.
"The opening of this branch is more than expanding our presence; it demonstrates our dedication to providing convenient, accessible, and world-class banking services to all our customers," Mr Mustafa said.
The new branch will offer a full range of financial services for individual clients, SMEs and corporate customers. Offerings include select banking for high-net-worth clients, corporate banking for businesses and institutions, retail banking for individuals, and asset financing to support business growth through vehicles, machinery and equipment acquisition.
Mr Mustafa also highlighted the bank’s focus on innovation and digital transformation.
"As the financial landscape evolves, we remain committed to delivering convenient digital solutions. For example, our ‘Ni Bure’ payment service allows free bank-to-wallet transactions, making financial access easier than ever for our customers," he explained.
The bank has partnered with Airtel through the Kamilisha mobile lending platform, which has disbursed over Sh500 billion in loans to more than six million Tanzanians, with 46 percent of beneficiaries being women. Overall, I&M Bank has surpassed 100 million loans disbursed, demonstrating its impact on financial inclusion.
I&M Bank Tanzania recently launched the World Elite Mastercard, earning recognition from Mastercard for innovation in premium banking. The card provides global lifestyle benefits, including access to over 1,300 airport lounges, medical insurance coverage of up to $500,000, and exclusive travel, hotel and golf perks.
Beyond banking services, I&M Bank continues to invest in environmental and social initiatives. In January 2026, the bank launched the Friends of I&M Initiative, beginning with a mangrove restoration project in Pembamnazi, Kigamboni, where 20,000 seedlings were planted in partnership with the Africa Transformational Initiative (ATI).
Under its financial inclusion programme, the bank has disbursed over Sh5 billion to more than 33,000 women-led micro, small and medium enterprises (MSMEs) in the past three months, supporting inclusive economic growth.
"We are committed to Tanzania’s long-term development, serving as a partner in growth for individuals, entrepreneurs and businesses," Mr Mustafa said.
The Palm Village branch is expected to become a key financial hub in Mikocheni, featuring modern infrastructure and customer-friendly services. Residents and businesses are encouraged to visit the branch and explore I&M Bank’s wide range of financial solutions.
