Financial Magazine Crowns National Microfinance Bank Best Bank in Tanzania

National Microfinance Bank (NMB) has been recognised by Euromoney, the global financial markets magazine as one of the best bank locally and internationally for three years in a row.

The Dar es Salaam Stock Exchange (DSE) listed bank has won the global prize after registering significant achievements within its operating environments.

The NMB counter had 59,840 shares traded at weighted average price of 2,870/- per share in 12 deals.

The NMB Managing Director, Ms Ineke Bussemaker, said in Dar es Salaam that the decision on the winners, depending on the number of submissions received globally, is done by the panel of distinguished local and international judges from various professional backgrounds.

Euromoney magazine recognises financial institutions worldwide that have posted significant feats within their operating environments.

NMB was thus named excellent by the financial markets magazine at the Euromoney 2015 awards, held in London last month.

“The best bank in Tanzania is a testament to NMB’s sound business model and exceptional performance achieved across its core retail, small medium enterprises (SMEs), corporate and agribusiness segments,” she said.

The annual awards cover more than 20 global product categories, best in class awards in all regions and the best banks in close to 100 countries in the world which is an indication that the bank continues to be the best bank to all customers and to the country.

“The fact that we are recognised as the best bank in the country highlights the power of our fully integrated business, the strength of our local platform and the commitment of our team,” he said.

It recognises the financial institutions from around the world that have registered outstanding achievements in their operating environments as well as excellent financial performance year on year.

With over 170 branches or 95 per cent of the government districts she said the bank has continued to display innovation with new technologies like mobile banking, integration with mobile network e-money offerings and largest ATM network of over 600 countrywide.

In a bid to provide high standards banking services to over two million NMB customers, the bank has continued to introduce innovative products and services including the recently launched NMB MasterCard.

The new and innovative products were necessary tools in meeting customer and clients’ savings, transaction and financing needs in urban and rural areas. Also demonstrates the bank’s firm commitment to financial inclusion for the population as a whole.

Originally published on DailyNews Tanzania

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