NMB gives 412 clients loan repayment relief, touts alternative banking

22May 2020
The Guardian Reporter
Dar es Salaam
The Guardian
NMB gives 412 clients loan repayment relief, touts alternative banking

IN a bid to give its small business owners, individuals and corporate customers relief from the impact of the coronavirus pandemic, NMB Bank Plc has offered relief to 412 clients.

NMB headquarters in Dar es Salaam.

The bank’s acting Managing Director, Ruth Zaipuna said in Dar es Salaam this week that the relief measures have involved personal, micro, small and medium enterprise clients plus corporations whose income and cash flows have been adversely affected by the Covid-19 pandemic.

The Dar es Salaam based lender said although the 412 customers have already received the much-needed relief package which includes repayment holidays and extension of loan repayment periods, many others are still seeking relief.

“As a bank, we recognize that this is a difficult time for some of our customers and businesses whose financial means are being negatively affected. After careful consideration, the various measures we are implementing are proportionate to the economic impact of these entities and individuals,” said Zaipuna.

She further explained that her management continue to remind clients of the need to continue engagements with the bank’s officials in order to access and take appropriate interventions where justified.

“We intend to provide relief on a case by case basis, as we know, not all businesses and individuals are affected equally. The focus is on those areas severely impacted by COVID-19,” she added while commending the government for not imposing a complete lockdown which would have had severe impacts on the economy and people’s lives.

“We would like to assure our customers that they are not alone on this journey. Our doors are open and we are ready to assist them during these uncertain times and beyond the COVID-19 pandemic. Our focus has always been to ensure that our country’s economy grows,” the NMB’s acting MD assured.

Zaipuna counselled clients to make use of alternative digital channels to transact during this time to ensure safer, efficient and healthy banking services without physical visits to branches. “In particular, NMB Mkononi and Internet Banking platforms now support increased thresholds on daily limits to support usage and convenience to customers. The measures are a testament to our commitment to finding real, customer-focused solutions, in a time of uncertainty,” she pledged.

With 225 physical branches, over 6,000 NMB ‘Wakalas’ and more than 800 ATMs across the country, NMB remains the market’s largest bank in several aspects. The bank has over three million customers and employs over 3,000 regular staff. It is listed at Dar Es Salaam Stock Exchange with Rabobank of Netherlands as largest shareholder with 34.9 percent, followed by Treasury which has 31.8 percent and the rest is to individuals and pension funds.