National Microfinance Bank
Encyclopedia
National Microfinance Bank (NMB), is a commercial bank
in Tanzania
. It is one of the commercial banks licensed by the Bank of Tanzania
, the national banking regulator.
At that time, the bank's shareholders' equity was valued at approximately US$155 million (TZS:230.5 billion). The stock of the bank is listed on the Dar-es-Salaam Stock Exchange
, under the symbol: NMB.
and (c) National Microfinance Bank. Initially NMB could only offer savings accounts, with limited lending capabilities.
In 2005, NMB was privatized and the Government of Tanzania, the sole owner of NMB until then, divested 49% shareholding to Rabobank
of the Netherlands
. Over the years since that time, further divestiture by the Tanzanian Government and subsequent listing of the bank's stock has led to a diversified ownership structure, as outlined under "Ownership".
{| style="font-size:100%;"
|-
| width="100%" align="center" | National Microfinance Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Rabobank
of the Netherlands
||34.9
|-
|2||Government of Tanzania||30.0
|-
|3||Private Investors via DSE||21.0
|-
|4||National Investment Company Limited (NICOL)||6.6
|-
|5||Exim Bank (Tanzania)
||5.8
|-
|6||TCCIA Investment Company Limited||1.7
|-
|7|| TOTAL||100.0
|-
|}
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. It is one of the commercial banks licensed by the Bank of Tanzania
Bank of Tanzania
The Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
, the national banking regulator.
Overview
, the bank is a large financial services institution, providing commercial banking services to individuals, small to medium sized corporate clients, as well as large businesses. NMB is one of the largest commercial banks in Tanzania, with a total asset valuation of over US$1.41 billion (TZS:2.1 trillion), as of December, 2010.At that time, the bank's shareholders' equity was valued at approximately US$155 million (TZS:230.5 billion). The stock of the bank is listed on the Dar-es-Salaam Stock Exchange
Dar-es-Salaam Stock Exchange
The Dar es Salaam Stock Exchange is a stock exchange located in Dar es Salaam, the largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998; it is a member of the African Stock Exchanges Association. The exchange is open five days a week, from Monday through...
, under the symbol: NMB.
History
Following the break-up of the old National Bank of Commerce in 1997, by act of Parliament, three new entities were created: (a) NBC Holdings Limited (b) National Bank of Tanzania (1997)National Bank of Commerce (Tanzania)
National Bank of Commerce , whose full name is National Bank of Commerce Limited, sometimes referred to as NBC , or as NBC Limited, is a commercial bank in Tanzania...
and (c) National Microfinance Bank. Initially NMB could only offer savings accounts, with limited lending capabilities.
In 2005, NMB was privatized and the Government of Tanzania, the sole owner of NMB until then, divested 49% shareholding to Rabobank
Rabobank
Rabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
of the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
. Over the years since that time, further divestiture by the Tanzanian Government and subsequent listing of the bank's stock has led to a diversified ownership structure, as outlined under "Ownership".
Ownership
NMB is owned by institutions and private individuals as detailed in the table below:{| style="font-size:100%;"
|-
| width="100%" align="center" | National Microfinance Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Rabobank
Rabobank
Rabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
of the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
||34.9
|-
|2||Government of Tanzania||30.0
|-
|3||Private Investors via DSE||21.0
|-
|4||National Investment Company Limited (NICOL)||6.6
|-
|5||Exim Bank (Tanzania)
Exim Bank (Tanzania)
Exim Bank , is a commercial bank in Tanzania. The bank is one of the commercial banks licensed by the Bank of Tanzania, the national banking regulator.-Overview:...
||5.8
|-
|6||TCCIA Investment Company Limited||1.7
|-
|7|| TOTAL||100.0
|-
|}
Branch Network
, the bank maintains over 133 networked branches in all regions and provinces of Tanzania.See also
- List of banks in Tanzania
- Economy of TanzaniaEconomy of Tanzania- History :Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment. Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle socialist economic controls and encourage...
- Microfinance in TanzaniaMicrofinance in TanzaniaMicrofinance in Tanzania began with NGOs and SACCOs in 1995 and has continued to grow with the increased success of microfinance internationally....
- Dar es Salaam Stock Exchange