NMB grabs best retail bank award

NMB Bank has grabbed global award as the best retail bank in Tanzania, thanks to the creation of supportive business conditions that made possible to devise innovative digital ways for reaching more unbanked population in the country.

The top lender in the country scooped the Best Retail Bank Tanzania 2022 accolade during the Global Banking and Finance (GBAF) Awards that took place in London, UK, recently.

Speaking during this year’s awarding ceremony, NMB’s Chief of Retail Banking, Mr Filbert Mponzi said the success of the bank could not have been possible without the support of the government and the Bank of Tanzania, which facilitated creation of supportive conditions for NMB to thrive and prosper.

“The NMB’s global recognition reflects its commitment to empower its customers and serve the whole country at large with advanced banking services,” he said.

He said, “At NMB, the customer and financial inclusion is at the centre of everything we do. We provide affordable financial services to over 5 million customers in Tanzania,” he said.

He said this is the second consecutive year for NMB to bag the leading retail bank award in the country for its outstanding delivery of basic value-added financial services to the general public.

“Our retail customer base is diverse in that we serve small scale famers, civil servants, salaried customers in the private sector and MSMEs,” he added noting that with a 100 per cent presence in the country’s districts, the footprint of the bank in the market was unrivalled.

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 6.5tri/-in 2021.

The GBAF Awards was established in 2011 by the UK-based Global Banking & Finance Review magazine, which focuses on global financial trends and developments and has a readership of over three million worldwide.

NMB also has the widest distribution network that comprises a branch network of 227 outlets of which 70 per cent are in rural areas. These are supported by over 15,000 agents and over 750 automated teller machines (ATMs).

Mr Mponzi also told the London gathering that NMB was at the cusp of digitization in Tanzania by outlining several areas it has pioneered in the market such as being the first lender to have banking agents who use mobile phones in their operations.

Equally, the bank has been the first to offer its customers digital micro loans and the first to enable general 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.

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 buy also the overall best bank in the country.

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