NMB Bank retains retail award for value-added financial services

Dar es Salaam. NMB Bank has once again been named the Best Retail Bank Tanzania, thanks to its exceptional delivery of basic value-added financial services to the general public.

This is the second time in a row that the lender is named as such during the Global Banking and Finance (GBAF) Awards that took place in London, UK.

The brainchild of the UK-based Global Banking & Finance Review magazine, the GBAF Awards was established in 2011.

NMB was represented at the recent awards by its retail banking chief, Mr Filbert Mponzi.

A statement from the bank’s headquarters in Dar es Salaam which was made available to the media yesterday quotes Mr Mponzi as telling the gathering in London that the award recognises the bank’s commitment to empower its customers and serve the whole country at large with advanced banking services.

“Our retail customer base is diverse in that we serve small scale farmers, civil servants, salaried customers in the private sector and MSMEs,” he said during his acceptance speech in London.

NMB has a distribution network of 227 branches, over 15,000 agents and over 750 automated teller machines (ATMs) across Tanzania.

On the digital front, Mr Mponzi said NMB Bank pioneered a service that enables its banking agents to use mobile phones in their operations. It also offers digital micro loans as well as enabling Micro, Small and Medium Enterprises (MSMEs) the ability to accept digital payments though QR code.

“Our focus and strategy now and in the future is to continue to leverage on advancing digital technologies to be able to drive financial inclusion by offering affordable, convenient and easy to access financial services,” Mr Mponzi said.

Mr Mponzi said NMB’s initiatives and partnerships not only positively impact communities where it does business but also make the market trust the bank. Consequently, he explained, customer deposits went up 24 per cent year-on-year to Sh6.5 trillion in 2021.

According to him, winning the award for two years in a row was testament of the focus, dedication and commitment of the over 3,500 NMB staff in ensuring that it is not only the Best Retail Bank in Tanzania but also the overall best bank in the country.