NMB BANK PLC. TO PAY TZS 32 BILLION IN DIVIDENDS

Dar es Salaam, June 02, 2018 – NMB Bank Plc. (“NMB”) declares a TZS 64 dividend per share.

The dividend pay-out as proposed during the Annual General Meeting (AGM) that was held in Dar es Salaam was approved by the bank’s shareholders

The total recommended dividend payment of TZS 32 billion is in line with the bank’s dividend policy of paying a third (33.3%) of its profit after tax (PAT) in dividends. The bank reported a TZS 93.5 billion profit after tax (PAT) for the year ending December 31 2017; a 39% decrease from the TZS 150.3 billion that was recorded in the previous year. The decrease is attributed to an increase in credit provisions reflecting setbacks faced by our customers.

The Bank’s Chairman of the board of directors - Prof. Joseph Semboja shared that within the context of the year, the Board is pleased with the results the Bank has delivered.

“In a period that saw many institutions make difficult decisions to scale down and, in some instances, close shop, I am proud that we were able to weather the storm. Our ability to maintain a solid capital base and our position as the most profitable bank in the country amidst changing times is a testament of the strong foundation we have built over the years.” Prof. Semboja added.

The Bank’s Managing Director, Ms. Ineke Bussemaker re-assured that NMB remains committed to its mission to offer affordable customer focused financial services to the Tanzanian community. In 2017, the bank opened 23 new branches, 10 new CCPs (cash collection points) and 2,389 new NMB Wakala Agents (Mawakala).

On the implementation of IFRS 9 which came into effect on 1 January 2018, Ms. Bussemaker confirmed that NMB has a strong capital base which remains well above the minimum regulatory levels. NMB ended the year with a Total Capital Adequacy Ratio of 17.6% against the required 14.5% and a Liquid Asset Ratio (LAR) of 39% against the regulatory minimum of 20%.

With this dividend, the main shareholders who are Rabobank Group who owns a 34.90% share in NMB will get TZS 11.168 Billion and the Government who holds a 31.78% share will receive TZS 10.169 Billion.

About NMB Bank Plc

NMB Bank Plc. (“NMB”) is a full service commercial bank incorporated in the United Republic of Tanzania. Through its 4 main business divisions: Retail, Wholesale, Agribusiness and Treasury, NMB provides a suite of financial services and products to retail customers, SMEs, Corporates, institutions and the Government. The bank has 220 branches and more than 800 ATMs across the country and is present in 98% of all Government districts. NMB has over 2 million customers and employs over 3,300 staff. The Bank is listed on the Dar es Salaam Stock Exchange in Tanzania.

For more information about NMB and its services, please visit our website: www.nmbbank.co.tz

For enquiries contact

Joseline Kamuhanda, Head Communication and Corporate Affairs
Email: Joseline.kamuhanda@nmbtz.com
Mobile: +255 754 710769