NMB Bank announces relief measures to ease burden to its customers

Friday May 22 2020

 

By Rosemary Mirondo @mwaikama rmirondo@tz.nationmedia.com

Dar es Salaam. NMB Bank has joined other banks by announcing relief measures to its personal, micro, small and medium enterprise clients, and to corporate customers in sectors whose income and cash flows have been affected by the Covid-19 Pandemic.
This is Bank’s effort aims to offer financial reprieve to sectors that may have been directly or indirectly impacted by the economic consequences of COVID-19 pandemic.
According to the bank a total of 412 customers have already received the relief packages from NMB Bank which range from payment holidays to extension of loan tenure to help them cushion the impact of COVID – 19 on their businesses.
NMB Bank acting managing director, Ruth Zaipuna, said the impact that the COVID-19 pandemic has had on both individuals and businesses has been relatively small compared to countries that went to partial or complete lockdowns, but nevertheless, actions by other countries may have impacted global supply chains and hence impacting some of our
clients.
“As a Bank, we recognize that this is a difficult time for some of our customers and businesses whose financial means are being negatively affected. After careful consideration, the various measures we are implementing are proportionate to the economic impact of these
entities and individuals. Today, we continue to remind our clients of the need to continue engagements with the Bank in order to access and take appropriate interventions where justified.” said  Mrs. Zaipuna.
She added: We intend to provide relief on a case by case basis, as we know, not all businesses and individuals are affected equally. The focus is on those areas severely impacted by COVID-19.
She said their customers are not alone on this journey.
“Our doors are open and we are ready to assist them during these uncertain times and beyond the COVID-19 pandemic. Our focus has always been to ensure our country’s economic growth. One way we can do this is by making sure our customers growth is not slowed and for us easing their burden in the midterm. We will also continue to strengthen our financial literacy programs through tailor made webinars, business coaching as well as providing investment advisory services throughout our client engagements,” Zaipuna said.