The National Microfinance Bank (NMB),
the country’s largest bank in terms of profitability, has posted a
staggering net profit of almost 100bn/- for its operations last year,
mainly pushed up by net interest income.
The profit,
which is the highest in the history of the bank, was mainly attributed
to net interest income that generated 278.45bn/- last year against
185.17bn/- in 2011.
The revenue from loans proceeds was
driven up by expansion of the loan portfolio, which grew to 1.35tr/-
from 1.24tr/- of the previous year to push up loan to deposit ratio by
almost 2.0 per cent to 60.52 per cent.
While prudent lending seems to
have helped the bank to lower its level of non-performing assets (loans)
or NPLs to 2.36 per cent from 3.43 per cent.
The NPLs were down by almost 10bn/- to
32.7bn/-. In the last 12 months the bank increased seven new branches to
bring the total number of branches to 147 across the country, hence
push up NMB's total workforce by slightly over 5.0 per cent to 2,783 at
end December.
The bank assets grew by 6.86 per cent to
2.79tr/- while customer deposits reached 2.27tr/- at the end of last
year. NBM share price traded on Thursday at the Dar es Salaam Stock
Exchange (DSE) higher by almost 2.0 per cent to 1,160/- since the year
began.
The profitability level pushed up
earning per share (EPS) to 195/- from 144/-. In 2005, the bank was
privatised and partly divested its shareholding 49 per cent to a
consortium led by the Coˆperatieve Centrale Raiffeisen-Boerenleenbank BA
(‘Rabobank Group’).
In 2008, the government offloaded its 30 per cent
shares to the general public in an initial public offer (IPO) and NMB
staff.
Source: The Daily News, www.dailynews.co.tz, reported by Abduel Elinaza in Dar es Salaam
0 comments :
Post a Comment