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.

, 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: 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).

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:

+NMB Bank Plc shareholding structure as at 30 June 2023S/NShareholder% ownership1.Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. 'Rabobank Nederland'2.The Treasury Registrar of Tanzania3.NICOL Tanzania 4.Aunali F Rajabali And Sajjad F Rajabali5. SQM Frontier Africa Master Fund Limited 6.Morgan Stanley Galaxy Fund 7.Morgan Stanley Institutional Fund Inc.: Frontier Emerging Markets Portfolio8.Patrick Schegg9.Tanzania Parastatal Pension Fund (PPF)10.Pinebridge Sub-Saharan Africa Equity Master Fund11.Kuwait Investment Authority12.Duet Africa Opportunities Master Fund13.TCCIA Investment Company Limited14.Other public and private shareholdersTotal

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

Governance David Carol Nchimbi, a non-executive director, is the chairman of the 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.

NMB Bank Tanzania

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