Our Personal Banking products are structured and segmented to address needs and give value to all our personal customers from civil servants, pensioners, students, minors as well as self-employed individuals.
Our Business Banking products offer total financial solutions catering to the Transactional, Working Capital and Capital Expenditure (Capex) Financing and Investments needs of Micro, SME and Emerging Corporates customers. We offer dedicated, skilled Business Bankers and Relationship Managers.
Agribusiness has devised unique lending approach to agribusinesses for the last five years and gathered enough experience to be more competitive in the market.
Current portfolio of products ranges from upstream to downstream financing that allows agribusinesses to grow and improve both men and women household incomes in Tanzania.
Wholesale banking focuses on large corporations and Institutions by providing high value services and financial solutions which include; currency conversion, working capital financing, structured financing, trade transactions, syndications, club deals, cash management and collections services. These services and solutions are supported by dedicated Relationship Managers.
The Government of United Republic of Tanzania is a major customer of NMB; utilizing NMB's products and services to facilitate its banking needs throughout the country. NMB has devoted a special Department to oversee and maintain good relationship with the Government and provide good customer care to ensure that the Government’s banking needs are timely met and provide financial solutions for its employees and pensioners.
With financial partners located throughout the global markets, our treasury offers a wide range of value-added treasury services such as money market, foreign exchange, and structured products to suit the financial market needs of Wholesale, government institutions and Retail clients. We achieve this through our extensive branch network across Tanzania.
MEDIA & NEWS CENTRE
NMB TAKES TOP HONOR IN EUROMONEY’S AWARDS FOR EXCELLENCE
Dar es Salaam, August 4, 2015… NMB has been recognized as the Best Bank in Tanzania by Euromoney the leading global financial markets magazine at the Euromoney 2015 Awards for Excellence held in London at the Natural History Museum on Thursday, July 09, 2015 for the third year in a row.
The Managing Director of NMB, Ineke Bussemaker who announced the award said that; these annual awards cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world. It recognizes financial institutions worldwide that have recorded significant feats within their operating environments, continuously display innovation and record excellent financial performance year on year, with a panel of distinguished local and international judges from various professional backgrounds deciding on the winners from a number of submissions from around the world.
“The Best Bank in Tanzania award is a testament to NMB’s sound business model and exceptional performance that the Bank has achieved across its core Retail, SME, Corporate and Agribusiness segments. In addition to having the largest branch network in Tanzania, new technologies such as mobile banking, integration with mobile network e-money offerings and the largest ATM network in the country play a key role in its expansion.
In the last 12 months, the Bank has introduced innovative products and services including the recently launched NMB MasterCard and continued to meet its customer and clients' savings, transactional and financing needs in urban and rural areas. As a Tanzanian bank, and banking over 2 million customers, NMB's strategy demonstrates a firm commitment to financial inclusion for the population as a whole.” Ineke said.
“This is a notable milestone for us and a tremendous achievement by everyone in the network,” said Ineke. “The fact that we are recognized as the Best Bank highlights the power of our fully integrated business, the strength of our local platform and the commitment of our team” she added.
Ineke goes on to say that this award adds to the more than ten awards that NMB has won in the last two years.We have The Bank of the Year in Tanzania by The Banker magazine, while Tanzania Revenue Authority (TRA) awarded it as the Most Compliant Taxpayer in the Financial Sector. Euromoney also named NMB as the Best Bank in Tanzania in 2013, while the independent Superbrand Council based in Kenya named it the premier banking brand in Tanzania and among the top 20 brands in Tanzania for 2013/14. In 2014 are The Banker Africa Magazine also named NMB as the Best Commercial Bank in East Africa, the National Board of Accountants and Auditors (NBAA) awarded NMB with Best Presented Financial Statements in the Banking category. This year, Banker Africa Magazine – East Africa Banking Awards named NMB the Best Commercial Bank and in 2015.
Euromoney magazine was created in 1969 to cover the re-emergence of the international cross-border capital markets. The euro market, after which the magazine is named, is the predecessor to today's mainstream global capital markets. Euromoney reported on, and championed, this market and its growth, in the process becoming the prime magazine of the wholesale financial world, its institutions and its users.
Euromoney’s Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world.
The National Microfinance Bank Plc (NMB) has launched the first ever business account for micro and small businesses named NMB FANIKIWA Account.
The account is special for micro and small enterprises (MSEs) and is expected to recruit many small business owners like the Mama Ntilie and Hawkers, including them in the formal economy.
NMB FANIKIWA account is an affordable and easily accessible business account designed to serve the micro business, with either a business license or permit. People owning micro businesses now have the opportunity to join the formal economy through this account.
The NMB Managing Director – Ms Ineke Bussemaker said, “NMB FANIKIWA Account is a tailor-made business account, specially designed for MSEs. This account is exclusive to very small and growing businesses with a turnover of between TZS 500,000 and TZS 150 million in a year.” A clear testimony of NMB’s commitment to serve a diversified customer segment according to their needs.
Ms Bussemaker further said, “NMB being the bank that serves a diversified customer segment according to their needs, has designed a tailor made business account specially designed for financial inclusion purposes.”
With this account in place, some MSE customers, especially those without banking experience, will be able to establish a business relationship with NMB, making it relatively easier for them to access loans after operation of their account for at least 6 months.
NMB has been serving the small and medium enterprises customers (MSMEs) since 2000, with the objective of assisting them to grow their businesses.
National Microfinance Bank Plc. (“NMB”) has posted a 4% increase in net profit.
The bank’s profit after tax (PAT) for the three months ending March 31, 2017 grew to TZS 40.9 billion from TZS 39.3 billion recorded for the same period in 2016.
NMB Managing Director - Ineke Bussemaker attributed the good start to the year to improved operating income and increased recoveries of previously non-performing loans.
Ms Bussemaker said that total operating income rose by 4.6% from TZS 56.1 billion recorded at the end of the first quarter in 2016 to TZS 58.7 billion in 2017. This growth was driven by an increase in both the net interest income as well as the foreign exchange revenue which increased by 41% from TZS 3.5 billion in the previous year to TZS 4.9 billion in 2017.
“Net interest income for the first quarter of 2017 was TZS 115.9 billion, a 9.4% increase from TZS 106.0 billion for the first quarter of 2016 and a 0.9% increase compared to TZS 114.9 billion recorded in the last quarter of 2016,” Said Ms Bussemaker
The banks financials also indicates that Non-interest revenue (NIR) increased from what was recorded in the same period in 2016 as well as the previous quarter. The bank’s NIR rose by 5.3% from TZS 39.4 billion in the first quarter of 2016 to TZS 41.5 billion in the first quarter of 2017 and by 4% from TZS 39.9 billion recorded in the 4th quarter of 2016.
Customer deposits only grew by 0.9% from TZS 3.71 trillion in the last quarter of 2016 to TZS 3.75 trillion in 2017.
“To grow the customer base and subsequently the deposit base, the bank is deploying more agents i.e. NMB Wakala across the country. The goal is to have a total of 4,500 agents by the end of the year.” Said Ms Bussemaker
The ongoing market-wide liquidity shortage has forced the bank to prudently slow down on the lending. Loans and advances extended to customers in the quarter decreased by 1.2% to TZS 2.76 trillion from TZS 2.79 trillion recorded in the previous quarter. Our loan to deposit ratio remains healthy at 74.6%.
Our loan recovery efforts are reflected by the Non-Performing Loans (NPL) ratio which has decreased to 4.6% from 4.8% which was recorded in the previous quarter.
“This is a good start to the year. The management team is committed to deliver good returns to our shareholders for the year 2017,” Ms. Bussemaker added.
THE National Microfinance Bank PLC (NMB) today handed over a new outpatient waiting bay at the Jakaya Kikwete Cardiac Institute (JKCI) with a capacity of 100 seats.
The construction of the new waiting bay brings a smile to outpatient and their families that visit the institute where they are now able to comfortably seat while waiting for medical services at the institute.
The construction of the waiting bay at JKCI is part of NMB’s Corporate Social Responsibility (CSR) program for health sector where in 2017, over TZS 1 Billion has been budgeted for CSR specifically for the health sector, Education and Disaster Recovery.
Speaking at the handover ceremony, NMB’s Managing Director – Ineke Bussemaker said the construction of the waiting bay is part of the bank’s CSR programs that focuses on health sector, Education and Disaster Recovery.
“We are particularly honored to support this new waiting area as we believe that it will bring significant benefits to patients, their family and also doctors here and improve patient experience, “ said Ms Bussemaker
We believe that with our support to this new department with the construction of this waiting area which can accommodate over 100 people at once, it will have an enormous contribution towards making this area a comfortable one for our patients.
Ms Bussemaker further said “Yes they are your patients, but at the same time we see this support as supporting NMB customers, we believe it is through them where our customers come from.”
In 2016, NMB supported Hospital equipment worth TZS 260 Million to 33 hospitals in the country with complete sets of hospital beds and delivery beds. Some beneficiary hospitals includes Mpanda hospital, Chihangu hospital, Dodoma hospital, Nyamongo hospital, Musoma hospital and Handeni hospital.
The Executive Director for Jakaya Kikwete Cardiac Institute - Prof Mohamed Janabi applauded NMB for supporting communities through their CSR programs.
“We thank you for your support, this is significant and boosts our initiatives of creating a conducive environment for our patients at this institute which has attracted people from within and outside the country.” Said Prof Janabi
JKCI is the first ever center in the country to perform Trans catheter, repairing of congenital defects, enabling patients to undergo minimally invasive procedure instead of open heart surgery.
National Microfinance Bank Plc (NMB) has today opened a new business center in Kahama – Kahama Business Centre which will serve the Western Zone regions of Shinyanga, Tabora and Kigoma.
To boost the Micro, Small and Medium Enterprises (MSME) in the country, NMB has created business centers as dedicated branches only for SMEs. Business centers are currently in Dodoma, Kariakoo, Sinza, Arusha, Mbeya, Morogoro, Moshi, Mtwara, Mwanza and now Kahama making NMB to hit its target for 2017 of reaching 10 Business Centers in the country.
Speaking at the launch of Kahama Business Centre in Kahama earlier today, NMB Managing Director – Ineke Bussemaker affirmed NMB’s commitment to boost MSME’s insisting that the business Centre in Kahama is in response to the growing demand of the business community and bring tailor made products close to them.
Ms Bussemaker said “this branch we are launching today underlines our commitment to MSME business, time has come when we need a stronger interaction between the bank and its largest SME customers.”
Kahama Business Centre is a dedicated branch only for SME’s and high net worth individuals with the main aim of fostering a rewarding relationship with NMB business customers. This is achieved by providing forums for customers to explore business opportunities through training, capacity building and networking opportunities.
To make sure that NMB supports well MSME, Ms Bussemaker said “We offer basic business training on capacity building, and networking opportunities through our Business Clubs. We have 34 clubs covering all regions”.
Since 2011, NMB has grown the MSME’s business from zero to over 100,000 MSME’s representing 14% of overall NMB’s business.
“Industrialisation activities are extremely important, not just to NMB but to the economy. The economy as a whole depends on the success of SMEs forming a bigger part of many industries in the country. And we are proud that in the course of just a few years we were able to grow this business successfully from zero to where we consistently support over 100,000 businesses nationwide” Said Ms Bussemaker.
Ms Bussemaker further said that improvements done by the bank so far will help to bring services more close to this segment of customers where they will not only get the best services but also acquire various trainings including the ones received at the Business Club meetings.
On her part, the Shinyanga Regional Commissioner-Zainab Taleck argued customers to make use of the business center for their development commending the contribution done by NMB in Kahama and Shinyanga region in promoting financial inclusion.
“I am requesting you to use this branch effectively, Shinyanga and Kahama have developed attracting huge businesses. We are honored with this center which I am sure will transform the business community in my region and nearby regions of Tabora, Kigoma and other districts within Shinyanga region.” Said the RC.
National Microfinance Bank Plc. (“NMB”) has recorded a 2.4% increase in profit after tax (PAT) for the year ended 31 Dec 2016.
The NMB Managing Director – Ineke Bussemaker says that despite the challenging macroeconomic environment, NMB was able to deliver a good performance.
“The bank’s net profit increased from TZS 150.3 billion in 2015 to TZS 153.7 billion in 2016. The growth is attributed to an increase in the Bank’s operating income which rose by 16%.” Said Ms Bussemaker
The bank’s interest income grew from TZS 438.7 billion in 2015 to TZS 551.0 billion in 2016 which is equivalent to a 25.6% growth. The bank’s total assets grew by 8% from TZS 4,580 billion in 2015 to TZS 4,951 billion in 2016. Loans and advances to customers rose to TZS 2,794 billion, a 13% increase from TZS 2,482 billion in the previous year. The loan growth was mainly driven by a growth of Salary Worker Loans which rose by 16% from the prior year to TZS 1,698 billion.
Amidst the liquidity crunch experienced by many banks in 2016, asset growth was funded by a TZS 172 billion increase in customer deposits and TZS 312 billion growth in borrowed funds as well as the NMB Retail Bond which raised TZS 41 billion. As a result, interest expenses grew by 49% from TZS 68.5 billion in 2015 to TZS 102.2 billion in 2016.
“Customer deposits that are largely comprised of non-interest earning accounts rose by 4.8% from TZS 3, 568 billion in 2015 to TZS 3,737 billion in 2016.” She said
“A number of our clients were adversely affected by the business climate in 2016, consequently this impacted the loan book quality which deteriorated to an NPL ratio of 4.8% in 2016 from 2.4% in 2015.” She said
With 20% market share in both loans and deposits, NMB has the 2nd largest balance sheet in the industry. For the 10th year in a row, NMB remains the most profitable bank in the country.