NMB Bank, is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

. It is licensed by the

Bank of Tanzania The Bank of Tanzania ( sw, Benki Kuu ya Tanzania) is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling. The bank was established under the Bank of Tanzania Act 1965. ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

and national banking regulator. , the bank was a large financial services institution, providing commercial banking services to individuals, small to medium-sized corporate clients, as well as large businesses. Then, it was the third-largest commercial bank in

, by assets, behind

FBME Bank FBME Bank was an international commercial bank. It offered commercial banking services and products to corporate and individual clients. Its traditional banking lines included international payment services, multi-currency account, credit facili ...

and

CRDB Bank CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. As of 31 December. 2018, the bank was reporting Total Assets of TSh 8 billion and Total Deposits ...

. , the bank's total asset valuation was about TSh 4.72 trillion (US$2.212 billion).

History

Following the break-up of the old National Bank of Commerce in 1997, by act of Parliament, three new entities were created: (a) NBC Holdings Limited (b) National Bank of Tanzania (1997) and (c) National Microfinance Bank. Initially NMB could only offer savings accounts, with limited lending capabilities. In 2005, NMB Bank was privatized and the

Government of Tanzania The politics of Tanzania takes place in a framework of a unitary presidential democratic republic, whereby the President of Tanzania is both head of state and head of government, and of a multi-party system. Executive power is exercised by the ...

, the sole owner of NMB until then, divested 49% shareholding to

Rabobank Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Raboban ...

of the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

. Over the years since that time, further divestiture by the Tanzanian Government and subsequent listing of the bank's stock has led to a diversified ownership structure, as outlined under "Ownership".

Ownership

The stock of the bank is listed on the

Dar es Salaam Stock Exchange The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in A ...

, under the stock symbol NMB. The company's stock is owned by institutions and private individuals as detailed in the table below:

Branch Network

, the bank maintains over 185 networked branches in all regions and provinces of Tanzania.

References

{{Economy of Tanzania Banks of Tanzania Companies of Tanzania Banks established in 1997 Dar es Salaam Companies listed on the Dar es Salaam Stock Exchange Economy of Tanzania 1997 establishments in Tanzania Tanzanian brands

History

Ownership

Branch Network

See also

References