News Column

NMB Scoops Tanzania's Top Banker's Award

June 11, 2014

THE National Microfinance Bank (NMB) sound business model and exceptional performance are among the aspects that made the bank to scoop the award of the best bank in Tanzania.

The NMB Chief Executive Officer, Mr Mark Wiessing, said the award was a testament of the achievements that the bank had registered across its core retail, Small Medium Enterprises (SME's) and agribusiness segments.

This year, The Banker Africa Magazine also named NMB as the Best Commercial Bank in East Africa, from the renowned Kenya-based Think Business Magazine during the ninth annual celebration of the achievements of the banking sector across East Africa.

Mr Wiessing went on to say that this is the sixth award the bank has won from last year to date. This year's award theme was 'Improving Service Delivery through Technology,' with the aim to reward and promote industry-wide excellence in the East African Banking Community.

In 2013, NMB was named the Bank of the Year in Tanzania by The Banker magazine, while Tanzania Revenue Authority (TRA) awarded it as the Most Compliant Taxpayer in the Financial Sector.

Euromoney also named NMB as the Best Bank in Tanzania in 2013, while the independent Superbrand Council based in Kenya named it the premier banking brand in Tanzania and among the top 20 brands in Tanzania for 2013/14.

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.

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," he said.

"We would like to thank our clients, staff and investors for helping us achieve this impressive accolade," says Wiessing, adding that NMB will continue with its commitment to serve its customers better now and in future," said Mr Wiessing.

The awards are won on a combination of merits, including financial soundness, customer opinion polls, market research and professional assessments, with a panel of distinguished local and international judges from various professional backgrounds deciding on the winners from a number of submissions from other Tanzanian banks and across East Africa.

Speaking at the occasion, Think Business Limited Business Analyst, Mr Muchangi Nyaga said, "We congratulate NMB for bagging this award as the Best Bank in Tanzania 2014, we at Think Business utmost believe that NMB deserved this and it only serves to recognise all the efforts it has placed over the years.

"However, the immediate challenge is to see if the bank will maintain its position in the increasingly competitive banking sector in Tanzania and the region at large." View the discussion thread.

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Source: AllAfrica

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