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. In 2015, NMB reported total assets of TSZ 4.6 trillion (USD 2.1 billion), customer deposits totaling to TSZ 3.5 trillion (USD 1.62 billion) and return on assets (ROA) of 3.3 percent. In 2014, NMB reported to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio (GLP) of USD 1.17 billion and a return on equity (ROE) of 30.55 percent.
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