Dar es Salaam. NMB Bank Plc has announced a historic dividend payout of Sh214.43 billion to its shareholders for the financial year ended December 31, 2024—a 19 percent increase from the Sh180.59 billion disbursed in 2023.
The resolution was approved during the bank’s 25th Annual General Meeting, with the dividend scheduled for payment on or shortly after 19 June 2025.
This marks yet another year of delivering sustainable value to shareholders, underscoring NMB’s robust performance trajectory.
The 2024 financial year was marked by stellar results, with the bank posting a post-tax profit of Sh643 billion—also representing a 19 percent growth compared to the previous year.
This performance further cemented NMB’s position as a market leader and one of the best-performing financial institutions in East Africa.
The bank’s balance sheet continued to strengthen, buoyed by sound capitalisation.
Loans and advances rose by 10 percent to reach Sh8.5 trillion, attributed to increased lending across key sectors such as agriculture, SMEs, retail banking, corporates, and the public sector.
Customer deposits climbed to Sh9.6 trillion, up 13 percent year-on-year, driven by consistent growth across all business segments.
Total assets grew by 13 percent to Sh13.7 trillion, a testament to the bank’s financial soundness and its capacity for sustainable and profitable expansion.
In terms of regulatory benchmarks, NMB made significant strides in efficiency and asset quality.
The cost-to-income ratio improved to 38 percent in 2024 from 39 percent the previous year—well below the regulatory threshold of 55 percent.
This ranks NMB among the most efficient banks in Tanzania and across the East African region.
Notably, the ratio of non-performing loans dropped to 2.9 percent from 3 percent in 2023, remaining well within the regulatory limit of 5 percent and below the industry average.
This improvement reflects enhanced credit quality management and prudent risk oversight.
“This dividend payout is a strong testament to the progress and execution of our strategy, our firm governance principles, and the continued trust shareholders place in our future,” said Board Chairman Mr David Nchimbi.
Mr Nchimbi further noted that the Board, through its commitment to prudent governance and accountability, will continue to drive the bank’s long-term growth and deliver sustainable value to its shareholders.
Commenting on the bank’s performance, NMB’s Chief Executive Officer, Ms Ruth Zaipuna, said the year 2024 was exceptional for NMB Bank.
“We registered significant milestones aligned with our strategic objectives, which translated into enhanced stakeholder value, operational excellence, and this record dividend payout. The approval by shareholders is a clear reaffirmation of our commitment to resilient and result-oriented growth,” she said.
She extended her gratitude to the Government, financial regulators, customers, shareholders, and staff for their unwavering support and trust.
“I am sincerely thankful for being part of this journey, and we look forward to building on our shared success by deepening this unique collaboration for sustainable progress and enhanced stakeholder value.”
