NBC Tanzania Declares Impressive Performance

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THE National Bank of Commerce (NBC) has posted impressive profits during the third quarter of the year.

According to the third quarter financial statement, that was released recently, the bank has attained impressive growth of 367 per cent on its profit after Tax (PAT) compared to last year.

Speaking on the performance, Managing Director, NBC, Mr. Theobald Sabi, said; “Our impressive performance for the last nine months is mainly attributed to our ongoing cost savings and efficiency drive, increased fee income from transactional activities and improved quality of the loan portfolio.”

Taking a closer look, at the NBC third quarter financial statement, as at end of September, NBC had Net Loans and Advances to the tune of 987bn/- and Customer Deposits worth 1.717tril/-.

In addition, Sabi stated; “Our total net loans and advances increased quarterly by 3.7 per cent, mainly contributed by additional loan bookings from our Corporate, Retail and Business Banking clients, whilst our overall customer deposits increased by 19.3 per cent.”

Our continued focus of on boarding quality loans has started to pay off resulting in lower impairment charges for the third quarter of the year.

In addition, Non-Performing Loans (NPLs) ratio has continued to decline to 6.9 per cent down from 10.1 per cent as at September 2018,” said Mr Sabi.

The NBC Digital Transformation agenda continued to deliver impressive results, which have contributed to our bottom line.

Our Mobile Banking transactions have grown by 50 per cent compared to last year alone.

This represents that our customers are effectively utilizing our electronic offerings and thus reducing the time required to conduct transactions in the branches. “Our purpose is to provide convenient services to our customers and clients.

Furthermore, we want our customers to be able to bank or transact wherever they are without visiting branches. We also want our customers to enjoy the different services and products that we have built in our digital platforms,” said Mr Theobald Sabi.

The Online and Mobile Banking proposition have become popular electronic channels widely used by Retail (Individual) and corporate clients.

The online transactions are safe and secured, allowing Bulk Payments, Local and International Payments.

“Our Digital Banking Facilities provides individuals, SMEs, Government Agencies, and Corporates with convenient and efficient Cash Collections and Payment solutions,” said Mr Sabi.

Another fast growing electronic channel is the NBC Agency Banking (NBC Wakala) that now has a membership of over 2,000 agents spread across the country, Sabi explains.

 

Customers are now able to access their accounts and make payments with greater convenience through the growing NBC footprint of agents.

NBC Wakala are now GePG compliant and thus customers can settle their dues to the Government through the NBC Wakala network.

NBC is now one of the leading banks in respect of Government Revenue Collections through GePG.

 

Our electronic channels are Government Electronic Payment Gateway (GePG) compliant, thus allowing our customers the choice to settle government levies and fees through our convenient electronic channels,” said Mr Sabi.

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