NMB PLC becomes the first bank in Tanzania to be awarded the Best Retail Bank award at the prestigious The Asian Banker Awards held at the Ritz Carlton DIFC in the United Arab Emirates.
The Excellence in Retail Financial Services Awards is the most competitive consumer banking awards in Asia Pacific, Central Asia, the Middle East and Africa awarded to the world’s leading financial institutions by The Asian Banker. More than 250 banks in 42 countries including Kenya, Ghana, Nigeria, Zambia and South Africa go through an evaluation process to select nominees and eventually winners.
In its 10 years since privatization in 2005, NMB has over 2 million customers, over 600 ATMs and more than 175 branches countrywide reaching Tanzanians in more than 95% of Tanzania’s districts. As the leading retail bank in the country, NMB pioneered major innovations in the market including agency banking (NMB Wakala), mobile banking (NMB Mobile) and Pesa Fasta an ATM based remittance product targeted at the unbanked. This has led to the bank’s strong financial record and prominent presence in the marketplace following the overwhelming presence and fierce competition of banks in Tanzania
Head of Branch Operations at NMB Mr Japhet Justine said: “It is an honour to be recognized as the Best Retail Bank in Tanzania amongst other retail financial institutions. Our mission at NMB has always been to create innovative products and services that tackle various financial challenges in the country and therefore cut through and have an impact on each segment of the Tanzanian market. This award is not only for us but our customers who continue to trust us with their future and as their bank of choice.”
In previous years NMB has been awarded Best Bank in Tanzania by Euromoney three times in 2013, 2014 and 2015 as well as the best retail bank for 2015 by World Finance Magazine.