NMB Bank PLC has recorded another milestone after bagging the Best Bank in Tanzania 2023 Award during the 10th Africa Bank 4.0 Summit held in Nairobi, Kenya in recognition of its strong performance momentum and deepening impact on the Tanzania’s economy by providing innovative digital solutions and distinguished services.
The award considered all fields of the bank’s products and services offerings that include retail banking and digital banking.
The Bank’s Chief Executive Officer Ruth Zaipuna also scooped the Best CEO in Tanzania Award 2023 for the second year in a row having received the prestigious accolade during the summit last year.
The Africa Bank 4.0 Awards recognise the efforts and innovation of the region’s key players in the banking, financial services and insurance sectors.
Speaking shortly after receiving the awards on behalf of the bank, the NMB Bank Chief Human Resources Officer Emmanuel Akonaay said the Best Bank in Tanzania 2023 Award is another strong evidence of bank’s commitment to innovate and meet its customers’ growing needs and represents the bank’s efforts in establishing a culture of excellence by providing innovative services by keeping pace with the advancement in modern technologies.
“I am very proud and honoured to accept this award on behalf of the bank. Winning this award confirms that we have attained the level of excellence we strive for. I dedicate this to my fellow NMB bank employees for their hard work and commitment as their dedication and excellence earned this honor for our bank. We understand the importance of providing distinct and unique experiences to our customers and are constantly introducing services to enhance the customer experience,” Akoonay said.
Akoonay said the bank has over the years succeeded in providing distinguished services to its clients, whilst introducing innovative concepts that have also significantly helped improve the quality of work.
“As a market leader in Tanzania, we take pride in offering our clients seamless banking services that are in line with international standards. At NMB, creating financial opportunity for everyone is the core of our mission. We are committed to putting the full force of our people and resources to work and drive financial inclusion,” he added.
The two accolades come at a time the Bank”s profit after tax increased by 47 per cent to top TZS 429 billion compared to TZS 290 billion in 2021 leading to the new biggest historic profit to have ever been made in Tanzania’s banking sector and making NMB 3rd best in East Africa Region in terms of profitability.
While total assets peaked to over TZS 10 trillion were TZS 5.5 four years ago with the deposits base expanding to TZS 7.5 trillion from TZS 4.2 trillion in just three years.
The 2022 financial outturn reflects the strong performance momentum NMB has had in the last four years and the impact of its Banking solutions excellence.
Commenting on the Best CEO award, a statement issued by the NMB Bank CEO Ruth Zaipuna in Dar es Salaam said “Am deeply humbled and grateful to be the recipient of the 2023 Best CEO in Tanzania Award which recognizes the modest achievement and contribution as a leader. Am humbled to be leading an organization with a growing reputation that is continuously positioning its self to have a global mark of excellence,”
Zaipuna dedicated the award to her colleagues at NMB Bank, management, board of directors, customers and valued stakeholders.
“I thank all the stakeholders for their unwavering support that has enabled the bank to continue serving communities,” she added.