NMB bags five awards from Euromoney

Dar es Salaam. NMB Bank has scooped five international accolades, thanks to its vital role in Tanzania’s economic growth endeavours, the bank said in a statement yesterday.

According to the statement, NMB was named as the Best Bank in Tanzania at the 2024 Euromoney Awards for Excellence which was held in London, UK last week.

This is the 11th time that the bank is named as such in Euromoney Awards for the past 12 years.

The Euromoney Magazine also awarded NMB as the Best Bank for ESG [Environmental, Social and Governance] and Best Digital Bank in Tanzania.

Euromoney through its Global Private Banking Awards that is the ultimate accolade for private bankers and wealth managers across the globe, also recognised NMB as Tanzania’s Best Domestic Private Bank and Tanzania’s Best Bank for High-net-worth individuals.

The bank’s Wholesale Banking Chief, Mr Alfred Shao, who travelled to London to receive the awards, said at the event that the awards were testament to NMB’s top-notch financial solutions and its catalytic contribution to the growth of Tanzania’s economy.

“NMB believes in providing financial services that are accessible to customers 24/7 as a way of enhancing convenience. As such, we keep innovating our online as well as digital platforms to maintain access for every customer and satisfy their financial service needs,” Mr Shao said.

Established 30 years ago, the Euromoney Awards for Excellence celebrate the achievements of banks and bankers from across the globe. This year, 600 banks from 100 countries participated in the awards, making it the most comprehensive accreditation programme in the industry.

NMB was named the Best Bank for ESG 2024 in Tanzania, recognizing its sustainable finance expertise and its commitment to improving the communities it serves.

“These five awards are not just a reflection of our past achievements but also a motivation for the future,” he said.

“Whether it’s through financial literacy programmes, supporting small businesses, or fostering diversity and inclusion within our workforce, we strive to create a positive social impact and empower individuals to achieve their goals.” he added.

The Euromoney’s Editor-in-Chief, Ms Louise Bowman, praised NMB for implementing a robust digital and agency banking model.  She highlighted that this significant investment has resulted in 96 percent of the bank’s transactions occurring outside of branches.

“The bank now has over 28,000 agents, from under 19,000 in 2022, and has launched a digital campaign to raise awareness of its digital products including digital micro-loans.,” she noted.