At a Glance
- NMB Bank’s market cap surged to $1.17 billion, up $100 million in the first 25 days of 2025, reflecting strong investor confidence in Tanzania’s largest bank.
- NMB reported a 19.5% net income rise to $188.9 million in 2024, driven by higher interest and non-interest income.
- With 231 branches and $5.32 billion in assets, NMB solidifies its position as a key economic driver under Ruth Zaipuna’s leadership.
NMB Bank Plc, Tanzania’s biggest banking group, has solidified its dominant position in the country’s financial services sector, with its market value increasing by $100 million within the first 25 days of 2025. This remarkable growth continues to reflect investor confidence in the bank’s ability to sustain its leadership in East Africa’s competitive banking landscape.
NMB’s share price on the Dar es Salaam Stock Exchange (DSE) has surged by 9.35 percent since the beginning of the year, boosting its market capitalization from Tsh2.67 trillion ($1.07 billion) to Tsh2.93 trillion ($1.17 billion). This marks an additional $100.4 million in market value. The bank’s growth builds upon its strong performance in 2024, when its market cap rose by more than $160 million, underpinned by a double-digit increase in its share price.
Investor optimism lifts NMB’s market value
The continued surge in NMB’s market value is attributed to investor optimism, which has been fueled by the bank’s impressive financial results. Net income for the nine-month period of 2024 increased by 19.5 percent, rising to Tsh475.9 billion ($188.9 million) from Tsh398.4 billion ($158.2 million) in the same period of 2023.
This growth was driven by a combination of higher interest income, robust non-interest income from foreign currency translation gains, and income from fees and commissions, further bolstering NMB’s reputation as the most profitable financial institution in Tanzania.
NMB leads Tanzanian banking with scale
NMB’s broad footprint in Tanzania, with 231 branches, 715 ATMs, and 7.1 million customers, continues to position it as a top player in the region’s banking sector. Under Tanzanian banker, Ruth Zaipuna, the leading lender which boasts over 25 years of active operations has seen transformative growth in recent years.
With a vast network of banking points, including 28,295 outlets and 54 cash collection points, NMB has played a pivotal role in supporting Tanzania’s economic growth. Zaipuna’s leadership ensures the bank remains firmly aligned with its mission of driving inclusive and sustainable socio-economic development.
In addition to its impressive financial results, NMB stands out not only as the largest bank in Tanzania but also as one of the top lenders in East Africa. With total customer deposits of Tsh9.2 trillion ($3.65 billion) and total assets of Tsh13.4 trillion ($5.32 billion), the bank’s position as a key economic driver is further reinforced.
NMB: Tanzania’s second-biggest company
Ranked as Tanzania’s second-largest company by market capitalization—behind Tanzania Breweries, which has a market cap of $1.2 billion—NMB remains a central pillar in Tanzania’s banking ecosystem. It also boasts retained earnings of Tsh1.88 trillion ($750 million), demonstrating its solid financial foundation.
As Zaipuna leads the charge toward further growth, the bank’s role as a significant catalyst for economic prosperity in the region is assured. Through its innovative services, NMB continues to unlock new opportunities for both its clients and stakeholders, making it a beacon of financial success in East Africa.
