NMB Bank's single borrower limit (SBL) hit 515bn/- in May this year as
compared to 420bn/- recorded during Quarter Three (Q3) last year attributed to
the bank's robust performance last year, the NMB Bank Temeke Branch Manager
Kidawa Masoud has revealed.
This is probably the largest amount offered to a single borrower in Tanzania's banking and finance sector at the moment.
Speaking during the official opening of the 48th Dar es Salaam
International Trade Fair (DITF) in Dar es Salaam yesterday, Masoud said the
bank’s asset base currently stood at 12.2trn/- as per the bank’s financial
audited results.
Speaking during the official opening of the 48th Dar es Salaam
International Trade Fair (DITF) in Dar es Salaam yesterday, Masoud said the
bank’s asset base currently stood at 12.2trn/- as per the bank’s financial
audited results.
“Our balance sheet has continued to grow year-on-year. We recorded a Profit
After Tax (PAT) of 542bn/- last year being a 26% growth in profitability so we
have a strong financial muscle and we are in position to offer a single
borrower limit of 515bn/-,” Masoud said.
NMB Bank’s solid balance sheet this year, the lender has increased the
Single Borrower Limit (SBL) to 515bn/ from 420bn/- during Q3 2023 and 325bn/-
that was offered to a single borrower in Q3, 2022.
She added that the bank has dished out 585bn/- to various Micro, Small and
Medium Enterprises (MSMEs) across the country in the first five months this
year as part of the bank’s commitment to boost the industrial sector value
chain.
“The sixth phase government has done a tremendous job in ensuring that
there is a conducive business environment, as a bank, we will continue to offer
seamless financial services to ensure that MSMEs prosper.”
Masoud during the event reiterated the bank’s commitment to drive the
financial inclusion agenda through its ‘Rural Banking’ scheme that seeks to
take financial services right at grass roots levels in its efforts to bridge
the unbanked gap.
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