NMB Bank Plc, Tanzania’s largest financial institution by assets, grabbed the award from its operations across the country at the Euromoney 2020 Awards for Excellence.
Apart from clinching the top spot as Tanzania’s Best Investment Bank, in the Investment Bank category, financial performance, digital banking strategy, financial inclusion, product offerings and the approach to cybersecurity and corporate social responsibility were the metrics contributed to the bank’s triumph.
Other metrics considered include market capitalisation, return on equity, return on assets, market share of deposits and market share of loans, loans-to-deposits ratio, non-performing loans (NPLs) ratio, and non-performing loan coverage ratio.
“NMB Bank is delighted to have been recognised with this award at this year’s Euromoney Awards for Excellence. As a trusted partner to in-country, regional and international organisations across Africa, this accolade recognises our leading client proposition,’’ said Ruth Zaipuna, the financial institution’s Acting Managing Director, adding:
‘’We provide independent input into strategic decision-making, backed up by carefully executed solutions across advisory, financing, lending, trading, transactional and wealth requirements,” said Ruth Zaipuna, NMB’s Acting Managing Director.
According to her, they are a bank that is known for, resilience, focus on technology and innovation.
Zaipuna pointed out that their purpose is to drive Tanzania’s growth, adding that they are committed to being more than a provider of financial products and services – they are a catalyst for economic change in the country and they endeavour to enhance the lives of their fellow Tanzanians by doing the right business across the country.
“We are leveraging on the best of technology in digital banking, innovative products; our extensive branch network and alternative channels to add real value to our customers’ lives,” she emphasised.
This is the 8thtime in a row NMB has achieved the feat, a manifestation of the bank’s commitment to its customers and Tanzania.
As a leading publication covering the growth of international finance, Euromoney’s awards programme recognises banks in almost 100 countries, in all regions and in 20 global categories.
In recognising NMB Bank for the Best Investment Bank in Tanzania, Euromoney editor, Clive Horwood, said:
‘’The bank has benefited from its expansion in Tanzania, pushing it ahead of the competition. It has a clear advantage in Tanzania, where it is the biggest bank by assets. And it already transacts an extraordinary quantity and quality of deals further.
“We continue to seek the best of the best in all countries offering banking services. As every year, size is important but certainly not paramount. Profitability is of course vital, but so is an ability to demonstrate growth, relative outperformance compared with peers and the ability to adapt to changing market conditions and/or client needs.”