We are proud to announce that we havescooped the Best Bank in Tanzania awardfor the 8th consecutive year, outshining over 40 other banks operating in the country.
This top award has been issued by Euromoney magazine, a leading global financial markets magazine based in London.
The award is given after measuring a number of metrics including; financial performance, digital banking strategy, financial inclusion, product offerings, the approach to cybersecurity and corporate social responsibility. Other metrics considered include market capitalization, return on equity, return on assets, market share of deposits, market share of loans, loans-to-deposits ratio, non-performing loans ratio and non-performing loan coverage ratio.
Our Board Chairman- Dr. Edwin P. Mhede, receiving the Best Bank award from the Acting Managing Director - Ruth Zaipuna. Looking on Chief of Retail Banking – Filbert Mponzi
This global recognition reflects the progress we have made in utilising digital and innovative solutions to deliver real value to our customers. It is also a testament that we are a catalyst for economic change in our country as we endeavour to enhance the lives of our fellow Tanzanians by offering convenience and accessibility of our banking services.
Our Board Chairman- Dr. Edwin P. Mhede, the Acting Managing Director - Ruth Zaipuna and Chief of Retail Banking – Filbert Mponzi, rejoices with the award awarded to them by Euromoney for being the Best Bank in Tanzania.
Our Acting Managing Director, Ruth Zaipuna said, “We are today a bank that is known for, Resilience, focus on Technology and Innovation.”
"NMB’s purpose is to drive Tanzania's growth. We are committed to being more than a provider of financial products and services - we are a catalyst for economic change in our country, and we endeavour to enhance the lives of our fellow Tanzanians by offering convenience and accessibility of our banking services across the country,” said Ms. Zaipuna insisting that winning this award for the 8th time in a row is a manifestation of the bank’s commitment to our clients and Tanzania.
She added: “We are leveraging on the best of technology in digital banking, innovative products, our extensive branch network and alternative channels to add real value to our customers' lives”.
The Euromoney Excellence Award confirms the bank’s investment in digital transformation and technology and its ability to deliver innovative solutions to the market.
In the 2019 financial performance, the Bank reported a TZS 142 billion profit after tax, a 46% increase from TZS 98 billion recorded in the previous year maintaining it as the most profitable bank for over a decade.
Describing the selection criteria and reliability of the award, Euromoney’s editor Clive Horwood explained: “We continue to seek the best of the best in all countries offering banking services. As every year, size is important but certainly not paramount. Profitability is of course vital, but so is an ability to demonstrate growth, relative outperformance compared with peers and the ability to adapt to changing market conditions and/or client needs.”
