NBC issues 6.0bn/- dividends to treasury

NBC Bank on Wednesday paid 6.0bn/- as dividends to the government an increase of over 30 per cent thanks to a stellar performance last year.

NBC Chief Executive Officer (CEO) Theobald Sabi said favourable business climate enable them to made a good profit that warranted to the increase in the dividends from 4.5bn/- in 2021.

“The bank’s performance reflects an ideal business environment that allowed us to reach our customers conveniently,” Mr Sabi said:

“We will continue to invest in technology, expand our footprints and improve our processes to meet and exceed our customers’ expectations.”

NBC Chairman Dr Elirehema Doriye, said the lender pre-tax profit grew by 36 per cent to 81.9bn/- last December.

“We look forward to a more promising future where we can deliver the best experience to our customers and create unmatched values for our shareholders,” Mr Doriye said.

The profit growth allows the bank to set aside 20bn/- as total dividends hence 6.0bn/- to the government.

Treasury Registrar Nehemiah Mchechu said when receiving the dividend cheque, noting that the amount will boost the government’s collection baskets and help fund strategic projects.

“We are pleased to see our investments [in NBC] paying off,” Mr Mchechu said.

Additionally, the bank apart from providing dividend, also invested more than 1.1bn/- in community initiatives through its Corporate Social Responsibility in the health and education sectors at the grassroots.

Also, recently, the lender managed to rise 200m/- through the NBC Dodoma Marathon 2022 to support the fight against cervical cancer.

NBC is also the main sponsor of the country Premier Soccer League ‘NBC Premier League”.