NCBA NOW APP SETS NEW STANDARDS FOR FINANCIAL ACCESSIBILITY

From left to right, NCBA Group Managing Director - John Gachora, Treasury Registrar - Nehemiah Mchechu and NCBA Tanzania Managing Director - Claver Serumaga during the launch of the NCBA Now App.

Dar es Salaam, April 2024 – NCBA Tanzania has unveiled its innovative mobile banking application, NCBA Now, ushering in a new era of enhanced convenience and accessibility for its customers. This milestone follows closely on the heels of the bank's exceptional financial performance for the fiscal year ending December 31st, 2023, further cementing NCBA's commitment to driving innovation and fostering financial inclusion.

NCBA has achieved remarkable financial results, demonstrating its leadership in the banking industry. With a profit after tax of TZS 20,164 million, representing a remarkable 157% growth rate, alongside an increase in customer deposits to TZS 262,582 million, showing a 91.5% growth rate, and total assets reaching TZS 515,503 million, with a growth rate of 14.5%, NCBA has solidified its position as a frontrunner in the financial sector. This notable growth across key financial metrics underscores the bank's strategic foresight and resilience in navigating market complexities, propelling it to the forefront of Tanzania's financial landscape. Looking ahead, the rollout of the NCBA Now App is expected to further drive NCBA's financial performance in 2024.

Speaking during the unveiling of the NCBA Now App, the NCBA Group Managing Director John Gachora, said, “The new NCBA Now App we are unveiling today, is a testament to our continued pursuit of innovation and good customer service. We will continue with our unwavering commitment to make the necessary investments to ensure that our platforms offer superior banking experience hence empowering our customers to achieve their financial goals with ease.”

The NCBA Now App represents a revolutionary advancement in customer banking experiences, offering a comprehensive suite of features accessible anytime, anywhere. The app can be accessed through the App Store or Google Play Store, enabling customers to seamlessly manage their bank accounts from the palm of their hands.

From real-time account monitoring and card management to service requests and customizable alerts, the NCBA Now App empowers users with unparalleled control over their finances. Additionally, the app facilitates various fund transfer options, bill payments, and instant mobile wallet transactions, providing a seamless banking experience.

Moreover, NCBA Now's regional expansion into Kenya and its upcoming launch in Uganda, Rwanda, and Ivory Coast underscores NCBA's commitment to providing innovative banking solutions that transcend geographical boundaries, empowering customers across East Africa and beyond.

On Digital financial services front NCBA has been on the forefront with products such as M-Pawa that have played a significant role in delivering a strong performance in 2023, disbursing about Tsh 100B worth of loans and generating Tsh 25B worth of Revenues last year. These digital ventures have contributed to NCBA's overall growth and reaffirm its customers of its dedication to meeting the evolving needs of fast paced digital era.

As NCBA Tanzania continues to innovate and expand its reach, customers can trust in the bank's unwavering commitment to delivering excellence and driving positive change in the financial landscape.