National Microfinance Bank

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NMB Bank Plc
Public
Traded as DSE: NMB
Industry Financial Services
Founded 1997 (1997)
Headquarters Dar es Salaam, Tanzania
Key people
Joseph Semboja
Chairman
Ineke Bussemaker
Managing Director
Products Loans, Savings, Transaction accounts, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax: US$81.8 million (TZS:132.5 billion) (2013)[1]
Total assets US$2.212 billion (TZS:4.72 trillion) (H1:2016)[2]
Number of employees
3,316 (2016)
Website www.nmbbank.co.tz

NMB Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.[3]

As of September 2013, the bank was a large financial services institution, providing commercial banking services to individuals, small to medium-sized corporate clients, as well as large businesses. Then, it was the third-largest commercial bank in Tanzania, by assets, behind FBME Bank and CRDB Bank.[4]

As of June 2016, the bank's total asset valuation was about US$2.212 billion (TZS:4.72 trillion).[2]

History[edit]

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. 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% 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".[5]

Ownership[edit]

The stock of the bank is listed on the Dar es Salaam Stock Exchange, under the symbol: NMB.[6] NMB stock is owned by institutions and private individuals as detailed in the table below:[7]

NMB Bank Plc Stock Ownership
Rank Name of Owner Percentage Ownership
1 Rabobank of the Netherlands 34.9
2 Government of Tanzania 31.8
3 Private Investors via DSE 25.0
4 National Investment Company Limited (NICOL) 6.6
5 TCCIA Investment Company Limited 1.7
6 TOTAL 100.0

Branch Network[edit]

As of December 2016, the bank maintains over 185 networked branches in all regions and provinces of Tanzania.[8]

See also[edit]

References[edit]

  1. ^ Daily Times Reporter, . (17 February 2014). "Tanzania: NMB Bags Sh132.5 Billion Profit". Tanzania Daily News (Dar es Salaam). Retrieved 15 November 2014. 
  2. ^ a b TDN Reporter (29 July 2016). "Tanzania: NMB Posts Strong Financial Results". Tanzania Daily News (TDN) via AllAfrica.com. Dar es Salaam. Retrieved 29 July 2016. 
  3. ^ BOT, . "Directory of Commercial Banks Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 15 November 2014. 
  4. ^ Business Times Reporter (13 December 2013). "Total Assets of Commercial Banks In Tanzania At 31 September 2013". Dar es Salaam: Tanzania Business Times. Retrieved 15 November 2014. 
  5. ^ NMB, . "The History of NMB Bank Plc". National Microfinance Bank (NMB). Retrieved 15 November 2014. 
  6. ^ FGS, . "List of Companies Which Trade On the Dar es Salaam Stock Exchange". First Global Select (FGS). Retrieved 15 November 2014. 
  7. ^ NMB, . (2013). "The Current Shareholders of National Microfinance Bank". National Microfinance Bank (NMB). Retrieved 15 November 2015. 
  8. ^ NMB, . "The Branch Network of National Microfinance Bank". National Microfinance Bank (NMB). Retrieved 15 November 2014.