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NATIONAL BANK OF COMMERCE

PRESS RELEASE
NBC ANNOUNCES ITS HALF YEAR 2014 RESULTS
Profit Before Tax PBT! "a# $ro%& '( 122) fro* T+# ,'i--io& i& Ha-f o&e
201. to T+# 1.'i--io&& i& Ha-f o&e 2014/ 0ri1e& '( i&2rea#e i& a##et i&2o*e
%"i2" "a# $ro%& '( 3) fro* "a-f o&e 201.! a# %e-- a# -o% i*4air*e&t o&
-oa&# a&0 a01a&2e# %"i2" i# 1,2) 'e-o% "a-f o&e 201.5
C6#to*er 0e4o#it# "a1e $ro%& '( ,) fro* T+# 17.12 tri--io& i& 81 to T+#
17.30 tri--io& i& 82
9ar e# Sa-aa*7 A6$6#t 13
t"
2014
The National Bank of Commerce on Thursday last week announced its financial results for the
second quarter of 2014 whereby its total assets increased from Tshs. 1. Trillion in !arch 2014
to Tshs. 1." Trillion in the second quarter that ended in #une 2014 which is an increase of $% .
The increase is mainly dri&en by the 'rowth in our customer liabilities( which increased )% year*
on*year from Tshs. 1($ Trillion in the first half of 201+ to Tshs. 1("* trillion as at +0
th
#une 2014.
To com,liment the ,erformance of the last si- months( NBC has introduced e-citin' and
inno&ati&e ,roducts into the market. ./n our quest to make bankin' easier for our customers in
our 0ourney to become the leadin' bank in Tan1ania( we ha&e introduced new ,roducts to
su,,ort our ambition of hel,in' customers achie&e their ambitions 2 in the ri'ht way(3 said
!1in'a !elu( NBCs !ana'in' 4irector.
Customer de,osits increased by 4.+% year*on*year from Tshs 1(+25 billion in the first half of
201+ to Tshs 1(+)" billion as at +0 #une 2014. The 6oans to 4e,osits 7atio 2 647 stood at
44.% as at +0 #une 2014 which is well within the re'ulatory limits.
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Net interest income increased 1$% year*on*year from Tshs $1($24 million to Tshs $$($04million
as at +0 #une 2014. /n the ,ast year non interest income rose ".$% from Tshs 24($+$ million to
Tshs 2(+)1 million as at +0 #une 2014.
8n a year*on*year basis( 9rofit Before Ta- :9BT; increased 122% from Tshs $())+ million to
Tshs 1+(0)1 million on the back of fa&ourable &ariances on income from in&estment of the
reca,italised funds as well as reduction in im,airments due to an im,ro&ement in the asset
book.
/n her statement to the ,ress on !onday( !i1in'a !elu said that recently( NBC has automated
its 7eal Time <ross =ettlement by usin' the /nternet bankin' ,latform. This enables NBCs
cor,orate clients to con&eniently initiate online transfers from their locations 24>"( for both local
:T/==; and cross border :=?/@T; ,ayments. This new ser&ice is fast( secure( and con&enient
online bankin'.
!i1in'a added that followin' NBCs acquisition of an /nsurance Brokera'e 6icense in early
2014( this added 'eneral insurance co&er ,roducts such as Aehicle( @ire( 9ro,erty and Theft to
the banks ,roduct mi-. /n B,ril 2014( NBC introduced @ree Credit 6ife /nsurance :@ree 6oan
/nsurance; to consumer borrowers. The key benefit of this insurance co&er is that in case of
death or ,ermanent disability( the outstandin' loan balance will be settled by insurance.
/n !arch 2014( NBC introduced NBC 4irect( which is a ser&ice offerin' that is com,iled of a
collection of &arious ,roducts ,acka'ed to'ether and offered as a bundle at a fa&ourable fee.
The ,roduct is offered in three different ,acka'es( <old( =il&er and Bron1e with the lowest
,acka'e bein' char'ed a monthly fee of less than TC= $(000 ,er month.
NBC 4irect is a one*sto, sho, solution for salaried em,loyees( who do not ha&e to ,ay multi,le
fees and si'n multi,le documents for multi,le ,roducts( with NBC 4irect you si'n one document
and ,ay one fee for all ,roducts included in the selected ,acka'e.
.The ,roduct which is offered in three different ,acka'es includes Cero minimum o,enin'
balance on all accounts with the lowest ,acka'e includin' a free initial debit card as well as free
funeral insurance co&er. 8ther ,acka'es include @ree BT! Transactions on all NBC BT!s( @ree
/nternet Bankin' and !obile Bankin'( @ree =tandin' 8rder to NBC Bccounts( @ree Balance
/nquiry D !ini*=tatements as well as Bccident /nsurance Co&er(3 she added.
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Bmon' other bankin' ser&ices( NBC customers can also send money to their lo&ed ones who
do not ha&e bankin' account throu'h the banks Cash 9o,ote ,roduct. 7eci,ients are able to
withdraw funds from their nearest NBC BT!.
/n #uly( NBC u,'raded its /nternet Bankin' ,latform( which now enables customers to access
their accounts and transact anywhere and anytime( throu'h the NBC 8nline Bankin' ser&ice
offerin'.
E0itor# Note/
NBC is one of the most re,resented retail bank in the country with o&er 4$ years e-,erience in
,ro&idin' financial ser&ices. B,art from offerin' traditional bankin' ser&ices( NBC also ,rides
itself with an e-,anded branch network of $2 branches and o&er 2)0 Aisa enabled BT!s. The
bank also ser&ices o&er 2$0 9oints of =ales strate'ically located throu'hout the country. NBC
has em,loyed o&er 1+00 staff.
For *ore i&for*atio& 4-ea#e 2o&ta2t/
7ukia /ddi !tin'wa( Bctin' Eead of !arketin'( Communications D Cor,orate Bffairs
National Bank of Commerce.
FmailG Rukia.mtingwa@nbctz.com
EN95
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