• Source: NMB Bank Tanzania

NMB Bank Plc., is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.




Overview


As of 31 December 2022, the bank's total assets were valued at approximately US$4.106 billion (TSh 10.2 trillion), with more than 6 million customer accounts and more than 3,500 employees.
As of September 2023, the bank was a large financial services institution, providing commercial banking services to individuals, small and medium-sized enterprises, corporate clients as well as large businesses. Then, it was the second-largest commercial bank in Tanzania, by assets, behind CRDB Bank Plc. At that time, NMB Bank was ranked as the 3rd most profitable bank in the East African Community, having risen from 10th position in 2018. In 2023 its cost to income ratio was 38 percent.




History


Following the break-up of the old National Bank of Commerce in 1997, by act of Parliament, three new entities were created: (a) NBC Holdings Limited (b) National Bank of Tanzania (1997) and (c) National Microfinance Bank (NMB). Initially NMB could only offer savings accounts, with limited lending capabilities. In 2005, NMB Bank was privatized and the Government of Tanzania, the sole owner of NMB until then, divested 49 percent shareholding to Rabobank of the Netherlands. Over the years since that time, further divestiture by the Tanzanian Government and subsequent listing of the bank's stock has led to a diversified ownership structure, as outlined under "Ownership". In 2008, the Government of Tanzania off-loaded another 21 percent shareholding in an initial public offering (IPO) at the Dar es Salaam Stock Exchange (DSE).




Ownership


The stock of the bank is listed on the Dar es Salaam Stock Exchange, under the stock symbol NMB. As of September 2023, the company's stock was owned by institutions and private individuals as detailed in the table below:




Branch Network


As of September 2023, the bank maintained 230 networked brick-and-mortar branches in all regions and provinces of mainland Tanzania and Zanzibar Island.




Governance


'Edwin P. Mhede', a non-executive director, is the chairman of the eight-person board of directors. 'Ruth Zaipuna is the chief executive officer. Eleven other senior managers work with her to execute the bank's day-to-day business.




See also


Tanzania Banks
National Bank of Commerce (Tanzania)
Economy of Tanzania
Microfinance in Tanzania

Register For NMB Mkononi




References

Kata Kunci Pencarian:

• Bursa Efek Dar es Salaam
• NMB Bank Tanzania
• NMB
• Microfinance in Tanzania
• National Bank of Commerce (Tanzania)
• List of banks in Africa
• List of banks (alphabetical)
• List of banks in Zimbabwe
• Lady Jaydee
• Kati, Arusha
• Felix Nyarko-Pong