Type Public Industry Financial Services Number of employees 3,316 | Traded as DSE: NMB Motto Close to you Founded 1997 | |
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Headquarters NMB PLC, Head office Ohio/Ali Hassan Mwinyi Road, P.O Box 9213
Dar es Salaam Key people Joseph Semboja
Chairman
Ineke Bussemaker
Managing Director Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages Profiles | ||
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National Microfinance Bank PLC, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
Contents
Overview
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.
As of June 2016, the bank's total asset valuation was about US$2.212 billion (TZS:4.72 trillion).
History
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 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".
Ownership
The stock of the bank is listed on the Dar es Salaam Stock Exchange, under the symbol: NMB. NMB stock is owned by institutions and private individuals as detailed in the table below:
Branch Network
As of December 2015, the bank maintains over 175 networked branches in all regions and provinces of Tanzania.