The National Microfinance Bank has won the ‘Best Bank in Tanzania – 2014’ award from renowned Kenya-based Think Business Magazine, during the ninth annual celebration of the achievements of the banking sector across East Africa.
A statement availed to The Guardian yesterday said the awards are won on a combination of merits, including financial soundness, customer opinion polls, market research and professional assessments, with a panel of distinguished local and international judges from various professional backgrounds deciding on the winners from a number of submissions from other Tanzanian banks and across East Africa.
"The Best Bank in Tanzania award is a testament to NMB’s sound business model and exceptional performance that the Bank has achieved across its core retail, SME, corporate and agribusiness segments. In addition to having the largest branch network in Tanzania, new technologies such as mobile banking, integration with mobile network E-money offerings and the largest ATM network in the country play a key role in its expansion, the statement said.
In the last 12 months, the Bank has introduced innovative products and services and continued to meet its customer and clients' savings, transactional and financing needs in urban and rural areas. Banking some 2 million customers, NMB's strategy demonstrates a firm commitment to financial inclusion for the population," says Mark Wiessing, NMB Chief Executive Officer (CEO).
“We would like to thank our clients, staff and investors for helping us achieve this impressive accolade,” says Wiessing, adding that NMB will continue with its commitment to serve its customers better now and in future.”
Wiessing further said that this is the sixth award the bank has won from last year to date. In 2013, NMB was named the Bank of the Year in Tanzania by The Banker magazine, while Tanzania Revenue Authority (TRA) awarded it as the Most Compliant Taxpayer in the Financial Sector.
Euromoney also named NMB as the Best Bank in Tanzania in 2013, while the independent Superbrand Council based in Kenya named it the premier banking brand in Tanzania and among the top 20 brands in Tanzania for 2013/14. This year, The Banker Africa Magazine also named NMB as the Best Commercial Bank in East Africa.
Speaking at the occasion, Think Business Limited Business Analyst, Muchangi Nyaga said: “We congratulate NMB for bagging this award as the Best Bank in Tanzania 2014. We at Think Business utmost believe that NMB deserved this and it only serves to recognise all the efforts it has placed over the years.
However, the immediate challenge is to see if the bank will maintain its position in the increasingly competitive banking sector in Tanzania and the region at large.”
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