- International Banker Awards names NMB Bank the Best Innovation Retail Bank in Tanzania 2021
- World Economic Banking Award names NMB Bank Best SME Bank in Tanzania 2021
- World Economic Banking Award names NMB Bank Best Investment Bank in Tanzania 2021
- International Business Magazines pronounces NMB the Best Retail Bank in Tanzania 2021
Financial Performance, Financial Inclusion, innovative banking Offerings, Customer Experience, Corporate Citizenship, Investments Advisory and investments in Technology remain contributors of the awards.
For Immediate Release
Dar es Salaam – Sept 16, 2021: NMB Bank Plc has won four international awards all naming it the best bank in Tanzania. The four awards make the total number of awards received by NMB in 2021 to six.
The four recognitions are the Best SME Bank and Best Investment Bank in Tanzania 2021 from the World Economic Banking Magazine, the Best Innovation Retail Bank in Tanzania from International Banker and the Best Retail Bank in Tanzania by International Business Magazine 2021.
Earlier in the year, the Bank was named the Best Bank in Tanzania for the 9th consecutive year by Euromoney Awards and Best Retail Bank in Tanzania by the Global Banking and Finance Awards. These are top awards issued by the leading global financial markets magazines based in London and the United States of America.
The awards are in recognition for the Bank’s proven track record of excellence and its strong commitment to innovation to provide the best and most convenient financial services solutions, an evidence of the Bank’s customer focus in line with its vision to become the preferred financial partner.
The Bank has continued to support customers investments through provision of advisory services on the right financing structures, investment alternatives, and advisory on capital raising through capital markets.
These awards were given after measuring several metrics including, financial performance, digital banking strategy, financial inclusion, product offerings and the approach to innovative banking offerings and corporate social responsibility.
Other quantitative metrics considered include market capitalization; return on equity; return on assets; market share of deposits; market share of loans; cost to income ratio; loans-to-deposits ratio; non-performing loans ratio; and non-performing loan coverage ratio.
These four international awards recognized NMB’s strong financial performance and a switch to digital channels as a testament to a push for greater efficiency. Today, 93% of the bank’s transactions happen outside branches.
These awards underscore NMB Bank’s leadership in the Tanzanian banking sector. The judging panel for all the awards highlighted the advantage NMB Bank demonstrated with its digital banking and agency banking platforms.
"We are extremely pleased to once again be recognized for our achievements," said Ruth Zaipuna, the NMB Bank’s Chief Executive Officer. "We continue to invest strategically in our technology, people, branch network and strengthen more our ability to deliver innovative solutions to the market."
In the last 12 months, Ms Zaipuna said “the Bank has introduced innovative products and services and continued to meet its customers’ finance needs, thereby filling the gap that some other banks had left in the market.”
Ms Zaipuna said that the bank’s investments in technology have allowed them to significantly expand their product mix and distribution channels offering relevant transactional solutions to customers while improving customer service.
“It’s a great accomplishment and honor for NMB Bank to receive six prestigious awards this year and the recognition they represent. I thank our staff, customers, and key stakeholders for the continued commitment, support, and trust to this great bank. We are proud that our efforts are being recognized but we also know we can’t be complacent; we must continue to hold ourselves to the highest global standards and continue to reflect our dedication to maintaining our place as Tanzania’s best bank and leading retail bank.”
NMB has continued to impact the Tanzania community by these innovative banking solutions and enhanced corporate citizenship efforts marked by the newly launched NMB Foundation and Nuru Yangu Scholarship program for gifted underprivileged students.
