Dar es Salaam — NMB Bank has recorded a historic financial milestone after its profits crossed the trillion-shilling mark, cementing its position as one of Tanzania’s strongest and most profitable banks.
According to the bank’s management, the strong performance was driven by growth in customer deposits, increased lending to key sectors, better cost control, and higher income from digital banking services.
Speaking during an interview in Dar es Salaam, NMB’s Director of Investor Relations, Sustainability, and Corporate Communications, Innocent Yonazi, said the bank’s success reflects years of strategic investment, discipline, and focus on customer needs.
What drove the profits
NMB’s profit growth was largely supported by:
Increased lending to small and medium enterprises (SMEs), agriculture, and trade
Growth in digital transactions, reducing operational costs
Improved loan recovery and risk management
Strong uptake of mobile and agency banking services
The bank also benefited from higher interest income as economic activity improved across the country.
Strong customer base
NMB remains Tanzania’s largest bank by customer numbers, serving millions of individuals and businesses across urban and rural areas. Its wide branch network and digital platforms have helped bring more Tanzanians into the formal banking system.
Support for the economy
The bank said its lending strategy focuses on supporting national development priorities, including agriculture, infrastructure, manufacturing, and green financing. NMB has also increased funding for women- and youth-led businesses.
Commitment to sustainability
Beyond profits, NMB has invested heavily in environmental, social, and governance (ESG) programmes. These include climate-friendly financing, financial literacy initiatives, and community developm
Outlook
Looking ahead, NMB management expressed confidence that the bank will maintain steady growth despite global economic uncertainties. The bank plans to expand digital services, grow regional trade financing, and strengthen support for Tanzania’s private sector.
Industry analysts say NMB’s trillion-shilling profit is a sign of a maturing banking sector and growing confidence in Tanzania’s economy.
Dar es Salaam — NMB Bank has recorded a historic financial milestone after its profits crossed the trillion-shilling mark, cementing its position as one of Tanzania’s strongest and most profitable banks.
According to the bank’s management, the strong performance was driven by growth in customer deposits, increased lending to key sectors, better cost control, and higher income from digital banking services.
Speaking during an interview in Dar es Salaam, NMB’s Director of Investor Relations, Sustainability, and Corporate Communications, Innocent Yonazi, said the bank’s success reflects years of strategic investment, discipline, and focus on customer needs.
What drove the profits
NMB’s profit growth was largely supported by:
Increased lending to small and medium enterprises (SMEs), agriculture, and trade
Growth in digital transactions, reducing operational costs
Improved loan recovery and risk management
Strong uptake of mobile and agency banking services
The bank also benefited from higher interest income as economic activity improved across the country.
Strong customer base
NMB remains Tanzania’s largest bank by customer numbers, serving millions of individuals and businesses across urban and rural areas. Its wide branch network and digital platforms have helped bring more Tanzanians into the formal banking system.
Support for the economy
The bank said its lending strategy focuses on supporting national development priorities, including agriculture, infrastructure, manufacturing, and green financing. NMB has also increased funding for women- and youth-led businesses.
Commitment to sustainability
Beyond profits, NMB has invested heavily in environmental, social, and governance (ESG) programmes. These include climate-friendly financing, financial literacy initiatives, and community development projects.
Outlook
Looking ahead, NMB management expressed confidence that the bank will maintain steady growth despite global economic uncertainties. The bank plans to expand digital services, grow regional trade financing, and strengthen support for Tanzania’s private sector.
Industry analysts say NMB’s trillion-shilling profit is a sign of a maturing banking sector and growing confidence in Tanzania’s economy.
