Last year, the Dar es Salaam based lender registered 52 percent profit increase to 148.6bn/- compared to 97.7bn/- earned in 2018 while loans and advances rose by 12 percent to 3.61trn/- from 3.27trn/- over the same period.
NMB’s Head of Government Business, Vicky Bishubo said in Dar es Salaam on Friday during a luncheon for clients, led by Ilala District Commissioner, Sophia Mjema that the bank is committed to work with local government authorities implement various socio-economic projects focused at improving people’s living standards.
“We are currently working with various municipals and councils on various projects particularly in areas of revenue collection, supporting Small and Medium Enterprises (SMEs), lending to public servants and a wide range of corporate social responsibility services on education, health and disaster recovery,” Bishubo said.
Citing some of the projects being supported by the bank, she noted further that NMB works and provides bid guarantee to local contractors pursuing construction projects in the local governments. To date, the bank has offered over 500 bid guarantee to local contractors countrywide that have enabled them qualify to pursue projects.
Speaking at the event, DC Mjema challenged Ilala municipal council’s staff and residents to make effective use of NMB’s products and services including loans to expand their businesses but also get mortgage financing to build and own decent houses.
“We need to engage NMB Bank’s experts to provide professional advice and financing on some of the projects executed by the municipal councils,” she said while commending NMB for continued support on socio-economic projects in her municipality.
Speaking at the same event, NMB’s Manager for Coast Zone, Badru Idd said throughout the years, the bank has devoted its resources and efforts to provide financial services to the unbanked and under banked population particularly those in rural areas.
“NMB is strategically focused and technologically advanced to respond to its customers by providing affordable and customer focused financial services for both individual and national development,” Idd said.
NMB Senior Relationship Manager-Business Banking, Lilian Malekia backed Idd’s observation saying through business clubs, the bank is set to introduce business clinics as an important platform in diagnosing various business hurdles and suggest solutions.
“Over 300 SMEs are set to take part in the business clinic to be rolled out throughout the country,” she said noting that the clinics will bring together government agencies like Tanzania Bureau of Standards, district councils, Business Registrations and Licensing Agency to meet and discuss challenges that SMEs face.
Senior Specialist General Insurance at NMB, Catherine Joshua urged over three million NMB customers and others to make efficient use of insurance services provided by the bank at each of its branches countrywide.
“All insurance services provided by insurance companies are available at NMB branches countrywide and that the bank has gone step further by addressing shortcomings that most people have been pointing out," Joshua said.
Having presence in almost 99 percent of the districts in the country through its widest network of 224 branches, over 800 ATMs as well as NMB Wakalas, the bank is well suited to the local governments.