NMB Bank Tanzania recorded Q1 2022 attributable earnings of US$44m, up 55% from year prior.
- NMB Bank realised an annualised Return on Equity of 28% in Q1 2022.
- Net interest margin/total assets of 8.4% relative to 8.7% on loans up 16% at US$2.1bn.
- Payroll deduction loans amounted to 65% of lending.
- Non-performing loans declined to 3.7% from 5.0% year prior.
- Bad debt charge-off US$6m (1.1% of loans) compared to US$10m (2.1% of loans) year prior.
- Cost income ratio declined to 42% from 48% year prior.
Wholesale/corporate banking has been loss making with a US$47m loss in 2020 and any reduction will boost NMB’s earnings. The 2021 segment information has not been released.
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