NMB Bank has raised the dividend payout to shareholders to 361/- per share this year up from 286/- announced last year, thanks to the robust financial performance of the year ended last December.

    The dividend that was approved by the shareholders last Friday during the 24th Annual General Meeting (AGM) is equivalent to a 26 per cent increase and will see shareholders pocketing 181bn/- against 143bn/- paid in 2022.

    The approved dividend will be cashed on or about June 19 this year.

    NMB’s Chief Executive Officer Ms Ruth Zaipuna said the dividend increase is attributed to last year’s positive performance of the bank after registering a profit after tax of 542bn/- year on year.

    “The achievements of the relationship between disciplined strategy execution and the delivery of financial and non-financial objectives play a pivotal role to the performance, “said Ms Zaipuna.

    Due to that, Earnings per share have also increased by 22 per cent year-on-year to 1,090/- from 863/- earned in 2022.

    Overall, the bank continued to record strong balance sheet growth, supported by healthy funding and capital positions.

    Last year, the lender which joined the ranks of the most efficient banks in sub-Saharan Africa, its total revenue increased by 18 per cent to 1.4tri/- from 1.2tri/- posted in a preceding year.

    The outstanding profitability outturn was mostly driven by surge in non-interest income, which rose following increased lending activities and investment in bonds with the government.

    NMB’s non-interest income increased by 19 per cent last year to 934bn/- from 786bn/- obtained in a prior year.

    Moreover, the lender’s total assets grew by 19 per cent to 12.2tri/- until last December from 10.2tri/- recorded in a prior year.

    The strong growth of the balance sheet is due to the large growth of 28 per cent in loans to customers, investment in government securities which grew by 17 per cent, as well as 11 per cent growth of year-onyear in customer deposits.

    Ms Zaipuna added that the lender also recorded a success in terms of efficiency and strengthening of lending.

    Until last December, the bank’s loan portfolio reached 7.7tri/- pushed up by positive performances in agriculture, small and medium businesses, and premium and private customer sectors.

    Equally, the bank also registered a positive growth in other income that increased to 468bn/- from 402bn/- posted in 2022, an increase of 16 per cent year-on-year that pushed up by customers using more digital service systems.

    The cost-to-income ratio (CIR) improved to 39 per cent while the non-performing loan (NPLs) ratio remained at 3.2 per cent.

    NMB’s Chairman Dr Edwin Mhede said “Our commitment to creating sustainable value and as well a strong emphasis on the sustainability agenda, are some of the important resources towards the sustainable growth of the bank at present,”



    DAR ES SALAAM STOCK EXCHANGE2,320.00-1.69%16/07
    NMB BANK5,350.00-0.93%16/07
    CRDB BANK550.00235,81416/07
    AFRIPRISE INVESTMENT225.0016,04516/07
    NMB BANK5,350.0015,10516/07
    TANZANIA PORTLAND CEMENT4,100.003,07416/07

    🇹🇿 Tanzanian Shilling

    african indices

    BSE DCI9,380.40-12/07
    DSE ASI2,080.90+0.13%16/07
    EGX 3027,828.92-0.44%16/07
    JSE ASI81,124.08-1.25%16/07
    LuSE ASI14,498.76-0.04%16/07
    MSE ASI125,398.40+0.69%16/07
    NGX ASI100,075.59+0.11%16/07
    NSE ASI110.23+0.09%16/07
    NSX OI1,783.48-2.40%16/07
    RSE ASI145.50-12/07
    SEM ASI1,931.16+0.08%16/07
    USE ASI1,044.96+0.27%16/07
    ZSE ASI189.22+4.99%16/07