One of Tanzania’s biggest commercial banks, NMB Bank Plc offers financial services to small and medium-sized enterprises, individuals, the government, large corporations, and agricultural lenders.
Following the dissolution of the previous National Bank of Commerce by an Act of Parliament, NMB Bank was created under the National Microfinance Bank Limited Incorporation Act of 1997. NBC Holdings Limited, National Bank of Commerce (1997) Limited, and National Microfinance Bank Limited were the three new organizations that were established at the time.
The bank is present in all of Tanzania’s districts and has 226 branches, more than 9,000 Agents (Wakala), and more than 700 abms. Over 4,400,000 people work for NMB, which has over 3,400 employees. Strategic partners Arise B.V. and the Government of Tanzania are its main shareholders, each holding a stake of 31.8% of the company. It is listed on the Dar Es Salaam Stock Exchange.
NMB was named the “Best Bank in Tanzania” by Euromoney Awards for Excellence for 8 consecutive years, from 2013 to 2020. Global Finance Magazine has rated the bank The Safest Bank in Tanzania for the year 2020.