Dar es Salaam, May 13, 2016 - NMB Bank has scooped the best Retail Bank in Tanzania for 2015 from the Asian Banker Awards at a ceremony held in Dubai last week. This is the third Annual Middle East and Africa Awards and the first for NMB Bank.
NMB was awarded in recognition of its efforts in promoting financial inclusion in the county by reaching out the previously unbanked communities. Over the past 10 years, NMB has been instrumental in making sure that those who are already included in the financial mainstream are able to better live the lives they want – and where those who aren’t included have an opportunity to join the financial mainstream, participate in the formal economy, and build more self-determined lives
The NMB Chap Chap also was mentioned as the contributing factor for the win as it has also been instrumental in reaching out the unbanked communities while making use of the largest network of branches - over 176 branches, over 600 ATM machines and NMB Wakala agents.
The bank’s capacity in offering a variety of loans and the deployment of the credit scan tool was also the reason for the win.
“In the last 12 months, the Bank has introduced innovative products and services and continued to meet its customer and clients' savings, transactional and financing needs in urban and rural areas. As a Tanzanian bank, and banking some 2 million customers, NMB's strategy demonstrates a firm commitment to financial inclusion for the population as a whole." Says the NMB’s Head of Branch Operations - Japhet Justine.
Mr Justine who received the award on behalf of NMB said: “It is an honour to be recognized as the Best Retail Bank in Tanzania amongst other retail financial institutions. Our mission at NMB has always been to create innovative products and services that tackle various financial challenges in the country and therefore cut through and have an impact on each segment of the Tanzanian market.”
The Excellence in Retail Financial Services Awards is the most competitive consumer banking awards in Asia Pacific, Central Asia, the Middle East and Africa awarded to the world’s leading financial institutions by The Asian Banker. More than 250 banks in 42 countries including Kenya, Ghana, Nigeria, Zambia and South Africa go through an evaluation process to select nominees and eventually winners.
In previous years NMB was awarded Best Bank in Tanzania by Euromoney three times in 2013,2014 and 2015 as well as the best retail bank for 2015 by World Finance Magazine.
The bank offers products such as Chap Chap account, which helps customers, overcome the major barriers to financial inclusion, such as lack of financial knowledge and proximity to a branch network. The account requires no minimum balances and no maintenance fees, and offers attractive interest rates and mobile money. Such products help the bank further its aim ofproviding instant access to finance to the Tanzanian population.
The Best Retail Bank in Tanzania award is a testament to NMB’s innovative and exceptional performance that the Bank has achieved across its core retail, SME, corporate and agribusiness segments. In addition to having the largest branch network in Tanzania, new technologies such as mobile banking, integration with mobile network E-money offerings and the largest ATM network in the country play a key role in its expansion.
About NMB
National Microfinance Bank PLC is Tanzania’s leading retail bank, both in customer base and branch network. With over 2 Million customers, about 175 branches and over 600 ATM’s, NMB is represented in more than 95% of Tanzania's districts. NMB serves individuals, micro and small enterprises as well as larger businesses. NMB has a strong financial record, based on years of strong and stable performance. NMB is listed at the Dar Es Salaam Stock Exchange. NMB’s largest shareholders are its strategic partners Rabobank with a 34.9% share and the Government of Tanzania with a 31.9% share.
NMB pioneered major innovations in the market including agency banking (NMB Wakala), mobile banking and Pesa Fasta an ATM based remittance product targeted at the unbanked. NMB plays an important role in the agricultural value chain and pioneered warehouse receipt financing for the country’s Amcos. NMB has been awarded Best Bank in Tanzania by Euromoney three times in 2013, 2014 and 2015 as well as the best retail bank for 2015 by World Finance Magazine.
The NMB Head of Branch Operations and Control – Japhet Justine displaying the award that recognized NMB as the Best Retail bank in Tanzania for its efforts in promoting financial inclusion in the country.
Looking on from left is the Asian Banker Chairman - Emmanuel Daniel and the Chairman of the Excellence in Retail Financial Services Program and former CEO of DBS Bank - Philippe Paillart on the right. NMB was awarded the best Retail Bank in Tanzania for 2015 from the Asian Banker Awards at a ceremony held in Dubai last week.
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NMB Contact – Joseline Kamuhanda – Senior Manager, Corporate Affairs and Public Relation through This email address is being protected from spambots. You need JavaScript enabled to view it.
