NMB Bank Plc’s Managing Director, Ineke Bussemaker said in Dar es Salaam last Friday that the 560 agents it has countrywide add to a 175 physical branches serving customers in all regions of the country.
She said agency banking is an alternative channel for distributing NMB banking services where by the bank has appointed existing merchants and retailers to provide a range of basic banking services to customers.
“It has become an essential component in bringing the NMB services closer to the people and it will expand the distribution network and improve the bank’s profitability and customer convenience,” Bussemaker said.
Through NMB Wakala network, it complements the bank’s current branch network of 600 ATMs countrywide.
“To date, NMB agency banking has processed over 550,000 transactions worth 166bn/- in deposit and withdrawals over the channel for cash deposit, cash withdrawal, mini statement and balance enquiry,” the MD pointed out. Recently Cardless deposit was introduced and already has shown success.
“In 2016, NMB intends to double its NMB Wakala agents and will focus more on transforming the bank to a digital banking service provider,” noted Bussemaker.
NMB Bank has an indirect agency banking channel via Maxcom where its customers can go for cash-in, cash-out and account enquiries via approved MaxMalipo agents.NMB will grow its direct agency banking channel.
National Microfinance Bank Plc has over two million customers, about 175 branches and over 600 ATMs and has presence in more than 95 percent of the country at district level.
Listed at Dar Es Salaam Stock Exchange, the bank’s main shareholders are Rabobank with a 34.9 percent and the government with 31.9 percent.
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