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Initially NMB could only offer savings accounts, with limited lending capabilities. In 2005, NMB Bank was privatized and the Government of Tanzania, the sole owner of NMB until then, divested 49 percent shareholding to Rabobank of the Netherlands. Over the years since that time, further divestiture by the Tanzanian Government and subsequent ...
At that time, customer deposits amounted to STZS:71 billion (approx. $28.5 million) and the bank's loan book totaled TZS:72 billion (approx. $28.9 million). The bank's maximum authorized loan amount to a single borrower was TZS:4.5 billion (approx. US$1,808,507). The bank employed 106 staff members in seven brick-and-mortar branches. [4]
At the end of the year in 2015, the bank had an asset base of over US$773 million (TSh 1.69 trillion) and is the fourth-best capitalized commercial bank in the country, behind National Microfinance Bank, CRDB Bank and FBME Bank. [8] At the end of 2017, Tanzania's total banking assets were valued at TSh 29.97 trillion (US$13.2 billion). [3]
The CRDB Bank Group, is a privately owned conglomerate in Tanzania. The anchor company in the group is CRDB Bank Plc. , the largest commercial bank in Tanzania, based on assets. As of 31 December 2023 CRDB Bank had assets valued at TSh10.897 trillion (US$4.313 billion).
NCBA Bank Tanzania Ltd, part of NCBA Group; NMB Bank Plc; National Bank of Commerce Ltd; International Commercial Bank Tanzania Ltd, part of ICB Banking Group; Azania Bank Plc, state-owned; Absa Bank Tanzania Ltd, part of Absa Group; I&M Bank Tanzania Ltd], part of I&M Bank Group; Access Bank Tanzania Ltd, part of Access Bank Group; People's ...
He worked in different roles in the bank until 2004. That year, he left to join Eurafrican Bank (EAB) in neighboring Tanzania as managing director. Founded in 1995, EAB was acquired by Bank of Africa Tanzania in 2007. [4] In 2007, Juma Kisaame returned to DFCU Bank as the managing director, and served in that role, [3] until his resignation in ...
NMB Bank Limited was founded in 1993 by Zimbabweans. At that time it was under the name National Merchant Bank of Zimbabwe. In June 1993, the bank was registered as an accepting house under the Banking Act. In 1997, the NMBZ Group was listed on the Zimbabwe Stock Exchange and simultaneously on the London Stock Exchange. In December 1999, NMB ...
The seven-person board of directors is chaired by Josephine Sevaretnam, a non-executive board member, who is also a minority shareholder. [6] As of September 2020, Villy Vellayappan serves as the chief executive officer of the bank. He is assisted by nine other top managers in conducting the day-to-day business of the financial institution.