Last week, NMB scooped the top award for
overall tax compliant client and the second largest taxpayer with
61bn/- paid to state coffers in the 2011 financial year.
The bank was also awarded a certificate of merit during the 6th Taxpayers Day organized by the Tanzania Revenue Authority (TRA) held in Dar es Salaam.
According to the annual report of the
bank released in Dar es Salaam, the net interest income during the
period under review jumped to 203.94bn/- compared to 131.63bn/- posted
in the preceding year.
The bank’s loans, advances and
overdrafts have jumped to 1.21tri/- in the year ended September 2012,
stated the bank’s statement.
For example, in the three months marking
the quarter ended September, the NMB managed to increase loans, advances
and overdrafts to 33.15bn/-.
Lending activities is the bank’s core
business.
However, the gross loans and advances to total deposits ratio
slipped slightly to 58.58 per cent from 61.30 per cent recorded in June,
this year.
Also the non-interest income increased to 73.78bn/- in the
year ended September 2012 compared to 66.20bn/-recorded in the previous
year.
The foreign currency dealings and
transactions rose to 6.89bn/- in the period under review compared to
4.82bn/- recorded in 2011. The fees and commissions edged upward to
66.05bn/- in September, this year compared to 51.76bn/- posted in 2011.
Similarly, the bank’s operating income
rose to 119.14bn/- compared to 79.94bn/- recorded in the previous year.
The NMB’s investment in government securities shot up to 532.51bn/-
compared to 486.29bn/- of 2011.
In the meantime, customer deposits have
climbed to 2.61tri/- , equivalent to 7.43 per cent increase compared to
2.013tri/-, a 3.32 per cent growth recorded in the quarter ended June,
this year.
Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko in Dar es Salaam
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