National Microfinance Bank (NMB)
Description (14 word limit)Established in 1997, National Microfinance Bank (NMB) is microfinance institution (MFI) that was established in Tanzania by the NMB Limited Incorporation Act. The bank initially provided payment services, savings accounts and very limited borrowing services, but since mid-2010 the bank has been expanding its lending operations. NMB operates 142 branches reportedly covering 80 percent of Tanzania’s districts. For the year 2012, NMB reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 1.54 billion, return on assets (ROA) of 4.71 percent, return on equity (ROE) of 36.1 percent and a gross loan portfolio (GLP) of USD 774 million. Dutch lender Rabobank owns a 34.9-percent stake in the bank while the Tanzanian government owns a 30-percent stake. Exim Bank Tanzania, the Tanzania Chamber of Commerce Industry, and Agriculture and National Investment Co Ltd own a combined 14.1 percent of NMB.
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