NMB Bank Tanzania

{{EngvarB|date=September 2023}} {{Use dmy dates|date=September 2023}} {{Infobox company | name = NMB Bank Plc | type = Public | traded_as = {{DARSE|NMB}} | founded = {{start date |1997}} | logo = Nmb logo.jpg | image = NMB Bank Plc Heaquarters in Dar es Salaam.jpg | hq_location_city = Dar es Salaam | hq_location_country = Tanzania | key_people = David Carol Nchimbi<br/>(chairman)<br/> Ruth Zaipuna <br/>(CEO) | num_employees = 3,500+<ref name="Data"/> | num_employees_year = 2022 | assets = TSh 10.2 trillion (US$4.106 billion) (2022)<ref name="Data"/> | revenue = {{profit}}Aftertax: TSh 429 billion (US$172.7 million) (2022)<ref name="Data"/> | industry = Financial services | products = Loans, savings, transaction accounts, investments, debit cards, credit cards, mortgages | website = {{URL| https://www.nmbbank.co.tz/ }} }}

'''NMB Bank Plc.''' is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.<ref name="ListR">{{cite web |url=https://www.bot.go.tz/BankSupervision/Institutions/ |title=Directory of Commercial Banks Operating In Tanzania |date=8 September 2023 |work=Bank of Tanzania | access-date=8 September 2023 |location=Dar es Salaam, Tanzania}}</ref>

==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.<ref name="Data">{{cite web| work=Africanfinancials.com | url=https://africanfinancials.com/document/tz-nmb-2022-ar-00/ |title=NMB Bank Plc: 2022 Annual Report |date=7 June 2023 | author=African Financials Online |access-date=8 September 2023 | location=Harare, Zimbabwe}}</ref>

{{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.<ref name="RankR">{{cite web| work=Daily News (Tanzania) | url=https://allafrica.com/stories/202309080047.html |title=East Africa: NMB Ranks Among Most Valuable Company in EAC |date=7 September 2023 |author=Tanzania Daily News |access-date=8 September 2023 |location=Dar es Salaam |format=via AllAfrica.com}}</ref>

==History== Following the break-up of the old National Bank of Commerce in 1997, by act of Parliament, three new entities were created: NBC Holdings Limited, National Bank of Tanzania (1997) and 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).<ref name="HistR">{{cite web| title=The History of NMB Bank Plc | url=https://www.nmbbank.co.tz/about-us/nmb-at-a-glance/history | work=NMB Bank Plc |date=15 September 2023 |author=NMB Bank Tanzania |access-date=15 September 2023 |location=Dar es Salaam, Tanzania}}</ref>

==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:<ref name="Own">{{cite web|url=https://www.nmbbank.co.tz/investor-relations-nmb/investor-information/faqs |title=The Current Shareholders of National Microfinance Bank |date=15 September 2023 |work=National Microfinance Bank (NMB Bank Tanzania) |access-date=15 September 2023 |author=NMB Bank Tanzania |location=Dar es Salaam, Tanzania}}</ref>

{| class="wikitable" |+'''NMB Bank Plc shareholding structure as at 30 June 2023''' !S/N !Shareholder !% ownership |- |1. |Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. 'Rabobank Nederland' |{{center|34.90}} |- |2. |The Treasury Registrar of Tanzania |{{center|31.78}} |- |3. |NICOL Tanzania |{{center|6.61}} |- |4. |Aunali F Rajabali And Sajjad F Rajabali |{{center|5.00}} |- |5. | SQM Frontier Africa Master Fund Limited |{{center|1.91}} |- |6. |Morgan Stanley Galaxy Fund |{{center|1.34}} |- |7. |Morgan Stanley Institutional Fund Inc.: Frontier Emerging Markets Portfolio |{{center|1.24}} |- |8. |Patrick Schegg |{{center|0.99}} |- |9. |Tanzania Parastatal Pension Fund (PPF) |{{center|0.97}} |- |10. |Pinebridge Sub-Saharan Africa Equity Master Fund |{{center|0.77}} |- |11. |Kuwait Investment Authority |{{center|0.70}} |- |12. |Duet Africa Opportunities Master Fund |{{center|0.63}} |- |13. |TCCIA Investment Company Limited |{{center|0.52}} |- |14. |Other public and private shareholders |{{center|12.64}} |- | |'''Total''' |{{center|'''100.0'''}} |}

==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.<ref name="BranchR">{{cite web |url=https://www.thecitizen.co.tz/tanzania/zanzibar/samia-inaugurates-nmb-branch-in-unguja-as-bank-extends-wings-4354552 | title=Samia inaugurates NMB branch in Unguja as bank extends wings | work=The Citizen (Tanzania) |date=1 September 2023 |author=The Citizen Tanzania |access-date=15 September 2023 | location=Dar es Salaam, Tanzania}}</ref>

==Governance== David Carol Nchimbi, a non-executive director, is the chairman of the board of directors.<ref name="BoardR">{{cite web|url=https://www.nmbbank.co.tz/about-us/background/board-of-directors|url-status=dead|archive-url=https://web.archive.org/web/20250505230833/https://www.nmbbank.co.tz/about-us/background/board-of-directors|archive-date=2025-05-05 |title=The Board of Directors of NMB Bank Plc. |work=National Microfinance Bank Tanzania |date=15 September 2023 |author=NMB Bank Tanzania |access-date=15 September 2023 |location=Dar es Salaam, Tanzania}}</ref> Ruth Zaipuna is the chief executive officer. Eleven other senior managers work with her to execute the bank's day-to-day business.<ref name="TeamR">{{cite web|url=https://www.nmbbank.co.tz/about-us/background/management-team |title=The Management Team of NMB Bank Plc |work=National Microfinance Bank Tanzania |date=15 September 2023 |author=NMB Bank Tanzania |access-date=15 September 2023 | location=Dar es Salaam, Tanzania}}</ref>

==See also== {{Portal|Banks}} * Tanzania Banks * National Bank of Commerce (Tanzania) * Economy of Tanzania * Microfinance in Tanzania

==References== {{reflist}}

Category:Banks of Tanzania Category:Banks established in 1997 Category:Dar es Salaam Category:Companies listed on the Dar es Salaam Stock Exchange Category:Economy of Tanzania Category:1997 establishments in Tanzania Category:Tanzanian brands