NMB Bank continued its bullish performance last year after posting a Profit After Tax (PAT) of 429bn/- being a 47% Year on Year (YoY ) increase as compared to 290bn/- recorded in 2021.
This has broken the bank’s profit history that celebrates its 25 years of existence this year.
According to a financial performance statement issued by the Dar es Salaam Stock Exchange (DSE) listed company, the bank’s total assets also rose by 18% to 10.2trn/- last year while its customer deposits also increased by 13% to 7.5bn/-
Speaking during an event to unveil the bank’s solid performance, the NMB Bank Chief Executive Officer (CEO) Ruth Zaipuna attributed the bank’s solid performance to proper execution of its strategy.
“For the first time in the 25 years history of NMB Bank, our gross income shot to 1.2trn/-being a 23% increase last year. This is a new record in the country’s banking history. I would like to take this opportunity to thanks the bank’s management and staff for their efforts in making this happen,” Zaipuna said.
Zaipuna said that after posting record performance last year, the bank has set aside 6.2bn/- to finance Corporate Social Investment (CSI) projects across the country this year as part of its commitment to create a shared value for communities across the country.
“Our priority areas in our Corporate Social Responsibility (CSR) strategy this year will be education, health, environment, financial literacy and sustainable development as a while,” Zaipuna said.