As of December 31, 2022, the bank had a total asset value of about 4.106 billion USD (10.20 trillion Turkish shillings), with more than 6 million customer accounts and more than 3,500 employees.

As of September 2023, the bank is a large financial services institution providing commercial banking services to individuals, SMEs, corporate clients as well as large corporations. Then, it is the second largest commercial bank in Tanzania in terms of assets, after CRDB Bank Plc. At that time, NMB Bank rose from 10th in 2018 to the 3rd most profitable bank in the East African Community. In 2023, its cost-to-income ratio was 38%.

History

Following the dissolution of the old National Commercial Bank in 1997, three new entities were created by an Act of Parliament: (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 capacity. In 2005, NMB Bank was privatized and the Tanzanian government (the sole owner of NMB prior to that time) transferred 49% of its shares to Rabobank. In the years since then, further divestitures by the Tanzanian government and the subsequent listing of shares in the bank have resulted in a diversified ownership structure as described in the "ownership" section. In 2008, the Tanzanian government reduced its stake by another 21% in an initial public offering (IPO) on the Dar es Salaam Stock Exchange (DSE).

Ownership

The bank's shares are listed on the Dar es Salaam Stock Exchange under the ticker symbol NMB. As of September 2023, the company's shares are held by institutions and individuals, as detailed in the table below:

signal to noise ratio shareholders ownership percentage 1. Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. 'Rabobank' 34.90 2. Registrar, Ministry of Finance, Tanzania 31.78 3. NICOL Tanzania 6.61 4. Aunali F Rajabali and Sajjad F Rajabali 5.00 5. SQM Frontier Africa Master Fund Limited 1.91 6. Morgan Stanley Galaxy 1.34 7. Morgan Stanley Institutional Funds: Frontier emerging markets portfolio 1.24 8. Patrick Shaig 0.99 9. Tanzania Parastatal Pension Fund (PPF) 0.97 10. Pinebridge Sub-Saharan Africa Equity Master Fund 0.77 11. Kuwait Investment Authority 0.70 12. Duet Africa Opportunities Master Fund 0.63 13. TCCIA Investments Limited SPAN > 0.52 14. Other Public and Private Shareholders 12.64 Total 100.0

Branch Network

As of September 2023, the bank has 230 networked physical branches in all regions and provinces of Tanzania Mainland and Zanzibar Island

Governance

"Edwin P. Mhede" is a non-executive director and is the chairperson of the eight-member board. Ruth Zaipuna is the CEO. She is joined by 11 other senior executives to execute the day-to-day operations of the bank