NMB HANDS GOVERNMENT OVER 21.7 BILLION

The Vice President, Dr. Philip Mpango (second from left) showing an example of a check of more than shs 21.8 Billion handed over to the Government as dividends from NMB Bank, from left is the Minister of Finance and Planning, Dr. Mwigulu Nchemba, Chairman of the Board of NMB Bank, Dr. Edwin Mhede (center), NMB Bank Chief Executive Officer, Ruth Zaipuna and NMB Chief Financial Officer, Juma Kimori.

 

 

Dodoma, Tanzania

 

NMB Bank has paid a dividend of Sh21.8 billion which is a 43% increase over last year's dividend which was Sh15.25 billion.

 

 Receiving a check for a check, Vice President Dr. Philip Mpango said the amount was satisfactory for him this year but he wanted them to add more knowledge to provide higher dividends including investing in the country neighbors.

 

Dr Mpango said the amount released last year did not please him and that is why he ordered it to increase their efforts but for this year he has been blessed.

 

The dividend paid yesterday is part of the Sh206 billion profit that the bank earned in the season ending December 2020 after tax exemption.

 The government receives the dividend due to its ownership of 31.8 per cent stake within the bank which for 8 consecutive years it has been receiving the best bank award in the country.

 

 & quot; I & # 39; m really pleased with your contribution, with this success but I want you to add creativity to it be a year longer than here, however I instruct the Minister of Finance that this amount should work

good for the people that is intended, & quot; said Dr. Plan.

 

About NMB he asked them to collaborate with other Institutions to sit with the Central Bank (BoT) to discuss interest rates a large amount that is still charged by banks and thus causing people to fail to borrow.

 

He urged the leaders of the institutions in which the Government owns shares but do not pay dividends that they evaluate themselves

otherwise they will be investigated and those who have violated the rules the Government will send them to Segerea even if

it's full.

 

 NMB board of directors chairman Edwin Mhede said the money had already been set aside in the Treasury registrar's account and that next year they will have a much larger amount due to

the trend they see.

 

Mhede cited the great secret of NMB's success is the creativity and dedication of their staff in looking for markets but better service delivery that attracts people to use the bank.

 

NMB Chief Executive Ruth Zaipuna said apart from the dividend, they have paid Sh245 to the Government billion as taxes on various levies and spending one percent which is more than Sh2 billion on

social services.

 

Bi. Zaipuna said the bank had reached a capital of Sh1.1 trillion from Sh660 billion in 2015 so its growth gives hope that it will continue to be the best bank to provide services to required standards.